As a seasoned crypto investor with a keen interest in meme coins, I’m thrilled to see the recent price surge of two notable assets, Bonk Inu (BONK) and Pepe (PEPE). The daily and monthly price increases of these Solana-based tokens are truly impressive.
TL;DR
- Solana-based meme coin Bonk Inu saw a 15% daily and 45% monthly price increase. Its market capitalization is nearing $2.5 billion, surpassing Floki Inu.
Pepe (PEPE) is another meme coin making the headlines, hitting a new all-time high after a 110% monthly ascent. Its market cap exceeded $6 billion, making it the third-largest in its cohort.
BONK Surpasses its Rival
As an analyst, I’ve noticed an uptick in the cryptocurrency market recently, fueled by optimistic anticipation that the SEC will approve Ethereum-based Exchange Traded Funds (ETFs) by the week’s end. Consequently, Ethereum (ETH) has been one of the top performers, experiencing a 6% daily growth and a substantial 30% surge over the past month.
Although it isn’t the only asset thriving, with other investments surpassing its growth. A clear illustration is Bonk Inu, a meme coin built on the Solana platform. Its price soared by 15% in the past 24 hours and an impressive 45% over the last month. Currently, the token trades at approximately $0.00003683, reaching its highest value in nearly three months.
The market value of BONK is approaching 2.5 billion dollars, making it the meme coin with the fifth largest market capitalization, surpassing Floki Inu’s current value of 2.2 billion dollars.
Based on the perspective of certain market analysts, BONK‘s price surge is far from over. The user X at Crypto Chase stated that this asset underwent a “bullish breakout” following two months of price stabilization. In their opinion, a possible correction could present an excellent chance for purchases.
PEPE is the Rock Star
BONK is not the only meme coin making the headlines recently, with Pepe (PEPE) claiming much of the glory. The frog-themed asset hit an all-time high on May 22 only to see that record beaten today (May 23).
Currently, PEPE is valued at approximately $0.00001438 according to CoinGecko’s data, marking a substantial 110% increase in value over the past month. The meme coin’s market capitalization surpassed $6 billion, ranking it as the third-largest meme cryptocurrency and the 24th-largest digital asset overall.
As a researcher studying meme coins, I’ve observed that these digital assets can experience significant price surges of over ten percent within a short timeframe. While this characteristic is inherent to their nature, it also comes with risks. Memo coins are infamous for their volatility, which can result in substantial losses for inexperienced traders. To help you navigate this ecosystem safely, I strongly recommend watching our educational video to learn about common mistakes and how to avoid them.
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2024-05-24 00:20