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- BONK coin and PEPE have both experienced significant increases in their price actions.
- In addition to Bitcoin’s influence, Transak’s recent stock market listing has played a role.
Popular meme-based tokens PEPE and BONK are up almost 10% in the past week. With a market capitalization of over $1 billion, their popularity has kept them resilient during market downturns.
Now, with their recent listing on Transak, a leading Web3 payment platform, AMBCrypto is exploring whether this move could cause a substantial increase in their value.
PEPE saw a strong increase in networking activity
With the inclusion of Transak, which simplifies and secures access to Web3, both PEPE and BONK coins are poised to rise and become more accessible to both new and seasoned crypto users.
AMBCrypto analyzed this development and noted a significant increase in the number of PEPE addresses, from 240,000 in mid-July to 275,000 at the time of writing.
Source: IntoTheBlock
This increase signals growing confidence among stakeholders, with an optimistic outlook despite market declines – evidenced by the BONK coin’s 5% rise to $0.00001996 in the last 24 hours.
Despite this revival, the BONK coin is transactional volume hasn’t seen a significant jump. Although the total number of transactions has exceeded 1 million, the daily volume remains below average.
However, as Transak aims to engage users in DeFi, tokens such as PEPE and BONK coins provide an accessible entry point for beginners.
With this in mind, AMBCrypto examined the DeFi ecosystem and examined the potential impact of the listing on staking activity.
Bulls are optimistic about the future gains of BONK coins
As part of the Solana blockchain, which ranks third in Total Value Locked (TVL) with $5.3 billion, Bonk Coin’s stake volume has reached $43 million. This reflected a growing interest in using BONK within the DeFi ecosystem.
As previously noted, BONK’s volume has fallen sharply from almost half a billion post-listing to $188 million at the time of writing.
Source: Santiment
However, bulls have managed to avoid a pullback, pushing the BONK coin closer to the previous rejection level of $0.00002201.
PEPE, on the other hand, has shown a higher growth rate, showing greater resilience to volatility, and also aligns with its previous resistance at $0.00000950.
Read Bonk’s [BONK] Price forecast 2024–2025
In summary, both the PEPE and BONK coins are gaining popularity among stakeholders, reflecting optimism about their future price action.
Ultimately, a lot depends on Bitcoin’s action, especially in the long term. Continued optimism in the network could lead to both tokens surpassing their previous rejection levels.