Following a Transak development, both PEPE and BONK surged impressively, now closing in on a critical price range.
- BONK coin and PEPE have both experienced significant surges in their price actions. In addition to Bitcoin’s influence, the recent Transak listing has played a part.
Popular meme-based tokens PEPE and BONK coin have surged nearly 10% in the past week. With a market cap exceeding $1B, their popularity has kept them resilient amid market downturns.
Now, with their recent listing on Transak, a leading Web3 payment platform, AMBCrypto investigates whether this move could trigger a substantial rally in their value.
PEPE saw a surge in network activity
With Transak’s listing, which simplifies and secures onboarding to Web3, both PEPE and BONK coin are poised to surge, becoming more accessible to new and seasoned crypto users alike.
AMBCrypto analyzed this development and noted a significant uptick in PEPE-holding addresses, rising from 240K in mid-July to 275K at press time.
Source : IntoTheBlock
This increase signals growing confidence among stakeholders, with a bullish outlook despite market downturns – evidenced by BONK coin’s 5% rise to $0.00001996 in the last 24 hours.
Despite this uptick, BONK coin’s transactional volume has not seen a significant jump. While the total transaction count has surpassed 1 million, the daily volume remains below average.
However, as Transak aims to onboard users into DeFi, tokens like PEPE and BONK coin provide an approachable entry point for beginners.
With this in mind, AMBCrypto examined the DeFi ecosystem, exploring the potential impact of the listing on staking activity.
Bulls are optimistic about BONK coin’s future gains
As part of the Solana blockchain, which ranks third in Total Value Locked (TVL) at $5.3 billion, Bonk coin’s staking volume has reached $43 million. This reflected a growing interest in utilizing BONK within the DeFi ecosystem.
As noted earlier, BONK’s volume has sharply declined from nearly half a billion post-listing to $188 million at press time.
Source : Santiment
However, bulls have managed to stave off a pullback, bringing BONK coin closer to its previous rejection level at $0.00002201.
In contrast, PEPE has showcased a higher growth rate, demonstrating greater resilience against volatility, also closing in on its previous resistance at $0.00000950.
In summary, both PEPE and BONK coin are gaining traction among stakeholders, reflecting optimism about their future price action.
Ultimately, beyond the listing, much depends on Bitcoin action, particularly in the long run – sustained optimism in the network could see both tokens surpass their previous rejection levels.
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