PEPE and BONK coin, two popular meme-based tokens, have experienced a nearly 10% surge in value over the past week. With a market capitalization exceeding $1 billion, their popularity has helped them withstand market downturns.
Following their recent listing on Transak, a prominent Web3 payment platform, CryptoCrypto delves into whether this move could fuel a significant uptrend in their prices.
PEPE Experiences a Boost in Network Engagement
By being listed on Transak, which streamlines and secures the process of entering the Web3 space, both PEPE and BONK coin stand poised for growth, making them more accessible to both new and experienced crypto enthusiasts.
An analysis by CryptoCrypto reveals a notable increase in the number of addresses holding PEPE, rising from 240,000 in mid-July to 275,000 currently.
This rise indicates a growing confidence among investors, showcasing a bullish sentiment even amidst market fluctuations – as evidenced by BONK coin’s recent 5% climb to $0.00001996 in the last 24 hours.
Despite this positive movement, BONK coin’s transaction volume has not seen a significant surge. While the total number of transactions has surpassed one million, the daily volume remains below average.
Nevertheless, with Transak striving to onboard users into DeFi, tokens like PEPE and BONK coin serve as a friendly entry point for newcomers.
Keeping this in perspective, CryptoCrypto delves into the DeFi environment, analyzing the potential influence of this listing on staking activities.
Optimism Reigns Among Bulls for BONK Coin’s Future Performance
Operating within the Solana blockchain, ranked third in Total Value Locked (TVL) at $5.3 billion, BONK coin has amassed a staking volume of $43 million, indicating a rising interest in leveraging BONK within the DeFi ecosystem.
As observed earlier, BONK’s volume has witnessed a sharp decline from almost half a billion post-listing to $188 million currently.
Yet, bullish investors have been successful in preventing a setback, propelling BONK coin closer to its previous resistance level at $0.00002201.
Conversely, PEPE has demonstrated a higher growth rate, showing greater resilience against volatility and approaching its previous resistance at $0.00000950.
In conclusion, both PEPE and BONK coin are gaining momentum among investors, reflecting positive sentiment regarding their future price movements.
Ultimately, beyond the listing, much hinges on Bitcoin’s performance, particularly in the long term – sustained positivity in the network could propel both tokens past their prior resistance levels.