Pepe and Bonk Prices Surge Over 30% Amid $400 Million Liquidation: What to Expect Next
Release: 2024/05/21 23:48 Reading: 333
Pepe and Bonk Prices Surge Over 30% Amid $400 Million Liquidation: What to Expect Next
The memecoin market is experiencing a surge in activity, with Solana-based meme coins witnessing substantial price gains. The anticipation of a potential spot Ethereum ETF approval by the SEC has fueled buying demand in the crypto market, driving up meme coin prices. Pepe and Bonk have witnessed a remarkable surge of over 30% in just 24 hours. However, analysts anticipate mixed signals in the coming hours.
Market Liquidation Nears $400 Million
The crypto market has experienced significant buying pressure in the past 24 hours. Bitcoin (BTC) has surpassed the $70,000 mark, while Ethereum (ETH) approaches the $4,000 milestone. Data from Coinglass reveals that total market liquidations have exceeded $390 million.
Solana Meme Coins Rise
Solana (SOL) meme coins have emerged as notable gainers. Pepe has reached a new all-time high, while Bonk leads the rally with a robust 30% increase.
Pepe Price Analysis
Pepe is currently facing bearish pressure following a selloff from its recent high of $0.00001281. The price attempts to fall below the EMA20 trend line, but buyers are actively defending the decline. At present, Pepe trades at $0.00001212, marking a surge of over 30% in the past 24 hours.
src="/uploads/20240522/1716345286664d59c64062a.png">
Buyers aim to keep the price above the 20-day EMA ($0.00001034). Success in this endeavor could lead to a recovery towards the high of $0.0000128. This level is critical for bears to defend, as a breakout could trigger a further rise towards the overhead resistance zone between $0.000015 and $0.000017.
Conversely, a break and close below the $0.00001-$0.000008 support zone would confirm a bearish pattern. The pair could then decline towards the strong support at $0.0000055. The RSI indicator is trending upwards towards the overbought region, suggesting a potential correction.
Bonk Price Analysis
Bonk price has exhibited an uptrend, with bulls propelling it above the overhead resistance of $0.000029. Bonk currently trades at $0.0000323, reflecting a surge of over 27% in the past 24 hours.
src="/uploads/20240522/1716345286664d59c64062a.png">
The bulls are targeting a move towards $0.00003693, and a successful breakout could pave the way for a rise to $0.000047. However, bears may offer stiff resistance at these levels.
The EMA20 trend line is a key level to monitor. A strong rebound from this level would indicate buying on dips, increasing the likelihood of breaking the psychological resistance at $0.000037. On the other hand, a sharp decline below the 20-day EMA would suggest that bulls are exiting, potentially triggering a correction to the 50-day SMA at $0.00002275.
The RSI indicator on the 4-hour price chart is rising and currently trades around 70, which could indicate a bearish correction.
Recent news
More>- Crazy Biden (CRAZBIDE) Memecoin Will Explode Over 19,000% Before Exchange Listings, While Shiba Inu and Dogecoin Lag 11-22
- 5 Memecoins Poised for Gains Under Trump’s Crypto-Friendly Agenda 11-22
- Must-Buy Altcoins for Massive Gains Ahead of Bitcoin’s $100K Surge! 11-22
- 3 altcoins under $1 set to explode like the Dogecoin and XRP price 11-22
- The 4 Top Cryptos for Long-Term Investment: How Polkadot, Dogecoin, XRP & BlockDAG Stack Up 11-22
- The 4 Top Cryptos for Long-Term Investment: How Polkadot, Dogecoin, XRP & BlockDAG Stack Up 11-22
- Donald Nukes Ukraine Solana Memecoin Will Skyrocket 15,000% Ahead of Exchange Listing, As Shiba Inu and Dogecoin Underperform 11-22
- Shiba Inu Coin Price Set To Surge, As Pepe And New Meme Coin Trend Globally 11-22
- Bonk (BONK) Sets New ATH. Which Bullish Memecoins Are Next? 11-22
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