The cryptocurrency market has been facing challenges for some time now. Following the Federal Reserve’s announcement regarding the interest rates, the price of BTC started to decline, despite positive inflation data. It dropped from $70,000 to $58,500. While the price is still above $60,000, some analysts predict that it may fall to $54,000. So, what’s happening with meme coins like BONK, PEPE, SHIB, and the highly discussed altcoin Ethereum?
BONK Coin Price
BONK, which gained significant attention towards the end of 2023, is one of the most prominent meme coin projects on the Solana network. However, things are not looking good for BONK at the moment due to the airdrop frenzy associated with SAGA phones. Stay updated with the latest technology news on NEWSLINKER.
As of now, BONK has experienced a 6.32% drop in the last 24 hours, with its price at $0.00002274. While the outlook for the next 7 days shows a 13% increase, the 30-day outlook reveals a disappointing 43% drop.
BONK’s market cap has fallen to $1.55 billion, and the 24-hour trading volume has also seen a 36% decrease, reaching a value of $178 million. This decline indicates a decrease in interest in both cryptocurrencies and BONK.
Pepe Coin Analysis
One of the biggest surprises of 2023 was PEPE, the third meme coin to shake the market after DOGE and SHIB. PEPE emerged during a relatively quiet period in the market and significantly increased the activity on the Ethereum network.
In March, alongside the market rise driven by BTC, PEPE made a second impressive appearance, reaching new all-time highs. However, since then, PEPE has experienced sharp price declines and continues to struggle today.
After a 6% drop in the last 24 hours, PEPE is currently trading at $0.00001162, with its market cap falling to $4.890 billion. PEPE’s trading volume has also dropped by 5%, falling below $500 million.
Ethereum Price in TRY
Since the end of May, Ethereum, the second-largest cryptocurrency by market cap, has been frequently mentioned. Despite a 0.55% increase in the last 24 hours, Ethereum’s price is still far from the levels of $2,900 seen before May 23.
Ethereum’s market cap remains at $407 billion, indicating that the critical level of $400 billion is being defended. Additionally, the 24-hour trading volume has increased by 5.39%, reaching $12.6 billion. In terms of TRY, Ethereum’s price is currently at 111,800 TRY.
There are rumors circulating that spot ETFs might be approved in the middle of next week, which could result in significant price movements similar to what we’ve seen with BTC.
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Disclaimer: The information provided in this article should not be considered as investment advice. Investors should be aware that cryptocurrencies carry high volatility and risk, and should conduct their own research.
