As Bonk crashes 9% in the past 24 hours, BONK holders are abandoning the coin in favor of an unlisted crypto with better profit potential.
This article will provide an analysis of BONK’s current price trends and look to see whether a newer meme coin, PEPU, represents a more promising investment opportunity at this time.
$BONK Time for the big green weekly candle? pic.twitter.com/vSwJKVnLRP
— frumza (@frumza) July 22, 2024
Despite some bearish price action, opinions on the market’s next direction remain mixed.
BONK Price Analysis: Will The Leading Solana Meme Coin Sink or Swim in Coming Weeks?
As BONK price fights to reclaim footing above moving average resistance, BONK is currently trading at a market price of $0.000031 (representing a 24-hour change of -9.35%).
This comes amid a -10.45% retracement on the short-time frame, following strong rejection at the overhead $0.000033 price level.
The price correction move has sent the price back into troubled form beneath the localized resistance of the 20DMA, which has suffocated price action over the weekend.
Yet, with well-defended support at $0.00003, BONK bulls are maintaining technical structure as they target a break high.
With 20DMA resistance currently standing at $0.0000315, this is the key level to watch in a short time frame.
Meanwhile, a glance at the RSI indicator is also revealing. Momentum cooling down amid the localized retreat has left the indicator reading neutral at 49.33 – a potentially bullish clue.
Overall, it seems likely that the 20DMA will be decisive in the short time frame, with any further rejection likely to trigger another substantial drop in BONK price.
Yet, while BONK holders look shakey, another project is jumping from win to win as it unlocks impressive traction within retail investment markets.
Here’s How Pepe Unchained Could Supercharge Your Portfolio in Q3 2024
The incubation is in progress
pic.twitter.com/vXHSV9h368
— Pepe Unchained (@pepe_unchained) July 21, 2024
Being at the cutting edge is key in the ever-changing volatility of meme coin markets, and this realization has fuelled substantial growth in meme coins at the presale phase in recent months.
Standing out at the front, pack leader Pepe Unchained appears poised to be the next major pump once it reaches its highly-anticipated DEX listings.
Currently trading at a market price of $0.008596 – PEPU represents an absolute steal at these levels, given its utility and future market value.
The presale is clearly resonating with investors, as Pepe Unchained has already raised a magnificent $4,841,505 – and is rapidly closing in on $5M.
But wait a second – what is Pepe Unchained?
Pepe Unchained is a simple coin with a huge purpose.
Delivering scalable layer-2 blockchain to the PEPE ecosystem in the same way that Shibarium delivered layer-2 functionality to Shiba Inu last year.
Just imagine: you could be a pioneering investor at the forefront of layer-2 scaling for meme coin developers who want to build in the PEPE ecosystem.
With such utility, this coin speaks for itself, so don’t miss out on this early-bird opportunity – 100x gains could await.
Buy PEPU Here
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