Bonk (BONK) and Pepe (PEPE) Face Losses as Meme Coin Market Shifts to New Players
Release: 2024/02/05 02:09 Reading: 960
TLDR
- Bonk was down 70% from its all-time high in December 2023, and Pepe was down 79% from May.
- NuggetRush exhibits constant progress, as evidenced by the ongoing presale sales of over 168 million tokens.
- Myro is a community-driven project with a consistent and sustained uptrend.
Bonk (BONK) and Pepe (PEPE) have previously enjoyed the spotlight because of their positive price actions but now face losses. Over the last two weeks, Pepe crashed by 24%, and Bonk plunged 19%, per CoinGecko data. Now, experts are turning to new meme coins with potential to broaden their investment portfolios and reduce losses.
Two such new players are NuggetRush (NUGX) and Myro (MYRO), whose performances have defied the ongoing bearish market correction trend. Unlike the usual meme coins with little to no utility, NuggetRush flips the script by unveiling a community-owned play-to-earn (P2E) game that hands over decision-making control and data access to the users. Myro, on the other hand, is a Solana-based meme coin that has been on an impressive monthly rally.
The following section covers why the meme coin market is shifting to these new players amid Bonk and Pepe’s declines.
NuggetRush (NUGX): Meme Coin With An Engaging P2E Gameplay
NuggetRush, a relatively new blockchain ICO, has emerged as a notable competitor to PEPE and BONK due to its sustained and steady growth. The presale has rapidly gone from the initial round to the current fifth and last round, with each NUGX token valued at $0.018. NUGX continues at its fast selling rate, with less than 22% of the tokens allocated for the presale left.
This top blockchain ICO has sold over 168 million tokens and raised over $2 million, promising the earliest investors a hundredfold return. These records reveal the market’s confidence in its utility and proposition. Also, NuggetRush aims to propel its market capitalization to an impressive $100 million, making it the best DeFi crypto with the capacity for huge returns.
In NuggetRush, there are several ways to generate revenue. Its engaging P2E gameplay enables players to explore new territories and mine gold and minerals. By incorporating a Game Finance (GameFi) model, the virtual rewards can be exchanged for real-world assets like cash and gold, making this best DeFi project rewarding and entertaining in real-time. Gamers can also collect character NFTs (non-fungible tokens) and RUSHGEMS, which will return an annual percentage yield (APY) of up to 20% upon staking.
Bonk (BONK): Crashes 70% After Attaining Peak Price
Bonk has diminished significantly since reaching an all-time high (ATH) price on December 15, 2023. Since then, the crypto has struggled to break free from its pivotal resistance levels. BONK‘s sharp decline can be attributed to its reduced trading activity and possibly the overall price corrections in the market following the developments after Bitcoin’s (BTC) ETF (exchange-traded fund) approval.
Bonk is down 30% over the last month and 19% in 14 days. If this bearish condition continues, the meme coin will have a long way to go to compensate for its December losses. Now, investors seek small-cap emerging meme coins like NuggetRush and Myro with utility and profitability potential.
Pepe (PEPE): From Hype To Gradual Descent
Born from meme culture, Pepe has gained remarkable popularity and a devoted community that extends its influence beyond humor into the blockchain sector. While this frog-themed crypto was initially associated with rags-to-riches stories when it launched early last year, it lacks fundamental value, a well-defined roadmap, or utility beyond amusement. The value of PEPE primarily relies on speculation, making it subject to market sentiment.
Like Bonk, Pepe has also experienced significant price losses since this year. PEPE‘s declining trend is especially pronounced as it is 79% down from its ATH and has had a 24% drop in price in the past 14 days.
Myro (MYRO): The Community-Centric Token
Myro, launched in October 2023, is the third-largest meme coin powered by the Solana (SOL) blockchain. It is a community-driven project dedicated to making cryptocurrency accessible and fun for everyone. MYRO embodies a revolutionary ethos designed for simplicity, security, and accessibility.
MYRO‘s market capitalization is nearing $98 million, and the community envisaged a $100 million market cap goal before the week concluded. This performance results from its impressive price rally, as Myro is up by more than 278% in 30 days.
Conclusion
As Bonk and Pepe‘s value faces losses, the community has observed NuggetRush and Myro as new players with innovative offerings. NuggetRush is rebranding the conventional narrative of meme coins by merging unique features like NFT staking, crypto investment, artisanal mining, and impact gaming to create a revolutionary gaming ecosystem. Investors seeking meme coins with potential have discovered NuggetRush’s outstanding positioning and are bulk-buying the presale for gains.
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