Pepe and Bonk Prices Fall As Traders Eye New Meme Coin Opportunity
It has been a disappointing week for top meme coins, with Pepe and Bonk experiencing deep sell-offs.
Meanwhile, the emerging Sealana is stealing the thunder as its presale cruises past the $3 million total raised mark.
Pepe and Bonk Dive While Leading Meme Coins Struggle
It is not only Pepe and Bonk that are down this week. Every top ten meme coin has declined except DOG•GO•TO•THE•MOON and Cat in a Dog World.
However, after displaying relative strength in recent months, Pepe and Bonk have started to show cracks.
Currently priced at $0.0000142, Pepe has booked double-digit losses this week, down a whopping 13%. That’s amplified by its 7% sell-off today and 1% in the last hour. Nevertheless, it remains at a significant premium this month, up 62%.
The frog-themed meme coin currently holds a $5.9 billion market cap and a $1.3 billion 24-hour trading volume, down 16% today.
Despite its underwhelming performance this week, analysts expect Pepe to resume its uptrend shortly.
Woods.ai suggests Pepe may see a modest pullback to around $0.000014, but this will set the stage for its next leg up.
$PEPE almost ready to fly, look for the frog coin betas. Memes be memeing
pic.twitter.com/wDpByFfhVj
— woods.ai (@robw00ds) June 3, 2024
Moving to Bonk, the project has suffered the same fortune as Pepe this week, down by 17%. And like Pepe, its bearish momentum shows no signs of easing, with its price down over 6% in the past 24 hours.
But zooming out, Bonk is in a less favorable position than Pepe, booking just an 11% gain this month.
It is currently priced at $0.00003192, with a $2.1 billion market cap and a $506 million 24-hour trading volume.
However, analysts remain optimistic, with Cloudz suggesting that traders will regret not buying more BONK at its current price.
Meanwhile, TraderKoz anticipates a deeper retracement to $0.000028, followed by a bounce and uptrend continuation.
But while Pepe and Bonk have struggled this week, a new meme coin contender has entered the market at full steam and is backed for outsized gains.
The project is Sealana, and its presale recently crossed the $3 million total raised mark.
Analysts Think New Meme Coin Sealana Can Provide 100X Returns After Raising $3M
The Solana meme coin domain has provided no shortage of life-changing opportunities in recent months, and prominent industry figures think Sealana is next to explode.
Currently undergoing a presale, investors can buy before the token launches on exchanges.
But with $3 million in the books, the project’s notoriety is ramping up, and time is running out to buy.
For some perspective, Solana’s most successful presale, Book of Meme, raised $2 million and then became the fastest meme coin to reach a $1 billion market cap after its exchange launch.
These are big boots to fill for the new seal-themed token, but analysts certainly think it could cause a stir.
“Sealana could give you 100x returns,” said well-known commentator CryptoBoy in a recent video.
One of Sealana’s strengths is its hilarious meme game. With unapologetic references to Donald Trump, South Park-inspired escapades, and a witty origin story, the project encapsulates the essence of degen meme coin culture.
This distinguishes Sealana from its meme coin peers and is likely the primary driver of its early success.
However, the team has not announced a presale hard cap, so the campaign could end at any time. As such, prospective investors should act quickly to avoid missing out.
Visit Sealana Presale