BONK And PEPE Break Resistance: Is The Memecoin Market On The Move?
Release: 2024/04/23 03:19 Reading: 929
The post BONK And PEPE Break Resistance: Is The Memecoin Market On The Move? appeared first on Coinpedia Fintech News
The recent Bitcoin halving has boosted institutional trust in the market, leading to gains across major cryptocurrencies and meme-inspired coins. Charts currently indicate that most cryptocurrencies and meme coins are performing well, with the overall cryptocurrency market capitalization at $2.43 trillion. The meme coin sector specifically has reached a market cap of $56.3 billion, marking a 0.21% increase over the past 24 hours.
BONK And PEPE Lead Memecoin Rally
In the past 24 hours, the cryptocurrency market has experienced an uptrend after Bitcoin's fourth halving event. The price of Bitcoin surged past $66,000, prompting increased buying interest in several meme coins, notably Bonk and Pepe, which are leading the surge.
According to Coinglass data, sellers liquidated significantly as Bonk witnessed a total liquidation of over $650K and Pepe price saw liquidation of nearly $2.3 million, creating increasing volatility on the price chart.
This past weekend, after rapid meme coin activity on Solana and Base, it was Bitcoin's turn to shine, achieving a new milestone in the process.
For the first time, Bitcoin miners earned more from transaction fees than from block rewards in a single 24-hour period. On Saturday, following the halving and the debut of the token minting protocol Runes, miners collected $80.74 million in fees compared to $26.28 million in bitcoin rewards.
Bonk Price Analysis
BONK price has successfully rebounded above the support of $0.000014, breaking above immediate Fib levels. Currently, buyers are aiming to send the price toward the resistance of $0.000025. As of writing, Bonk price trades at $0.00002019, declining over 1.4% in the last 24 hours.
src="/uploads/20240425/1714038129662a2571c6400.png">
The rebound may approach the descending resistance line, an important threshold to monitor. If buyers surpass this hurdle, the BONK/USDT pair might extend to the $0.000029 level, and then the $0.000042 level.
Should the support between $0.000014 and $0.000012 weaken, intense selling interest from the bears is anticipated. If this support fails, the pair could experience sharp declines, potentially descending to the critical $0.00001 support level.
Pepe Price Analysis
PEPE price has been skyrocketing in recent hours due to increasing buying demand near the recent low of $0.0000049. As a result, buyers are now aiming for a new higher high in the coming hours in order to stabilize above Fib levels.
src="/uploads/20240425/1714038129662a2571c6400.png">
If the price ascends and stays above the $0.000009 level, the momentum could shift in favor of the buyers. This might lead to a gradual increase to $0.00001, possibly followed by a push toward $0.000015.
Should the price drop below $0.0000049, the PEPE/USDT pair might begin a downward trend toward $0.0000036. Although this price could serve as substantial support, a breakthrough by the bears could result in a complete retracement of the most recent rally, potentially bringing the price down to $0.0000016.
Recent news
More>- 6 Best Cheap Crypto to Buy Now Under 1 Dollar November 25 – Arbitrum, Mina, Chiliz, Theta Fuel 11-26
- Pepe and Shiba Inu Face Strong Bearish Pressure: Is the Memecoin Market Losing Momentum? 11-26
- Meme coin prices dip; traders move to $40M Pepe Unchained ICO for massive potential gains 11-26
- Whale Moves 308B BONK Tokens to Coinbase Before Big Burn Event 11-26
- Why BTFD Coin, Pepe Coin, and Bonk Coin Are Top Meme Coins 11-26
- Missed the Pepe Coin Frenzy? This New Best Meme Coin is Here to Realise Your Dreams 11-26
- From Underdog to Top Dog: This Solana-Based Token Could Outperform Pepe by 100x This Year! 11-26
- Top 5 Crypto That Have Surpassed Their ATH In Recent Days! 11-26
- Best Wallet Soars Past $1M In Private Sale As Public Presale Starts Today For Web3 Wallet Built For 2024 Bull Run 11-26
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com