- 2024 could revive BONK and PEPE coins as they aim for new price peaks
- BONK’s roller-coaster ride continues, but its expanding user base hints at potential 2024 highs.
- Crypto analyst draws parallels between PEPE’s current trajectory and Dogecoin’s performance in 2020.
The crypto world is abuzz with the latest developments surrounding meme tokens, specifically Bonk Coin (BONK) and Pepe Coin (PEPE). Recently, BONK, a prominent meme coin in the Solana ecosystem, witnessed a 29.9% decline over the past week.
Moreover, BONK was still under selling pressure at press time, valued at $0.00001118, a 7.13% decline from the 24-hour high.
BONK/USD 24-hour price chart (source: CoinStats)
Initially gaining momentum as a promising cryptocurrency at the end of 2023, BONK’s journey has been a roller coaster of highs and lows. Despite a brief surge in price, on-chain data from Dune Analytics indicates a decrease in Bonk coin transactions, possibly fueling this latest price drop. However, the coin’s user base continues to expand, recently surpassing 109,800 users.
Pepe Coin’s Potential Upswing
In contrast, Pepe Coin (PEPE) is garnering optimistic forecasts from crypto analysts. Crypto Kaleo draws parallels between PEPE’s current trajectory and Dogecoin’s performance in 2020.
The crypto analyst claimed that as Ethereum experiences growth, expectations are high for PEPE to follow suit, potentially reaching a staggering market cap between $5 and $10 billion. This growth trajectory could position Pepe Coin as a top contender in the cryptocurrency market.
Prospects for Bonk Coin in 2024
Despite its recent setbacks, Bonk Coin has had a remarkable journey, with a 9,000% surge in 2023. Its unique positioning as the first Solana-based memecoin and its utility in the Solana ecosystem have contributed to its popularity.
While BONK has receded from its all-time high, market analysts remain optimistic about its potential, anticipating a new peak in 2024. This could result in a significant price increase, elevating BONK as a promising altcoin investment.
Pepe Coin, like BONK, has experienced its share of market fluctuations. After a 1,100% increase in the early stages of its launch in 2023, PEPE faced a downturn, dropping significantly from its all-time high.
However, the team behind Pepe Coin is focused on integrating practical utility into the token, which could revive its value. This move might set the stage for another remarkable price surge for Pepe Coin in 2024.
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