Bonk and Dogecoin Prepare for Rallies but Sudden Selling Pressure Pushes Meme Coins into Bearish Territory, Meanwhile Lunex Network (LNEX) Soars Through Presale after Raising $1.2 Million in Record Time

Bonk coin recently recorded a significant 34% increase over two weeks which was setting the stage for a massive rally. Even though Bonk is forming a giant triangle pattern, market experts believe Bonk investors aren't ready for a breakout yet.

Meme coins like Bonk (BONK) and Dogecoin (DOGE) might not be performing as well as expected, but new tokens entering the market are quickly gaining attention. One such token is Lunex Network (LNEX), which has already raised over $1.2 million in record time during its presale.

Meme Coins Struggle To Find Direction As New Tokens Soar Through Presales

Meme coins like Dogecoin (DOGE) and Tamadoge (TAMA) enjoyed massive gains throughout 2023, but as the year comes to an end, the hype surrounding meme coins seems to be fading. While some meme coins are still managing to trade in the green, others are facing heavy selling pressure.

Bonk (BONK) Investors Not Ready For A Rally Despite 34% Gain

After rallying by more than 34% over two weeks, investors might have been expecting Bonk (BONK) to finally prepare for another massive rally. Forming a giant triangle pattern, Bonk might be preparing for a breakout, but market experts believe investors aren’t ready for it just yet.

Priced at $0.0000223 after dropping by 2.79% over the last 24 hours, Bonk’s volume has also decreased by a significant 51.93%. This seems to be validating the bearish thesis forming around Bonk, especially since the meme coin is trading above its Simple Moving Averages on the BONK/USDT daily chart.

If the bearish momentum continues to build up, then traders can expect Bonk to crash down to the lower support at $0.00001747 before the end of the week.

Dogecoin (DOGE) Whales Book Profits As Community Sentiment Turns Bearish

Dogecoin (DOGE) did manage to record an impressive 10.47% increase over the last seven days, but investors are suddenly booking out. In the last 24 hours, Dogecoin investors liquidated $5.32 million worth of DOGE tokens, which is typically considered a sell signal.

Currently trading for $0.1402 after a small 0.29% intra-day increase, Dogecoin investors might be surprised to learn that DOGE’s volume has actually decreased by 22.36% over the last 24 hours. This usually suggests that investors are losing interest in Dogecoin, especially if investors decide to sell their tokens at a profit.

If profit-taking ensues, then traders can expect Dogecoin to crash down to the $0.09 support before the next candle closes.

Lunex Network (LNEX) Attracts Both Short And Long-Term Holders With Multi-Chain Trading Capabilities

Launched only a few weeks ago, several tokens have already emerged as the top gainers in October. One of these tokens is Lunex Network (LNEX), which has managed to raise more than $1.2 million in its presale stages, leaving a lasting impression on investors.

With the upcoming bull market, analysts are positive about this new decentralized finance (DeFi) project becoming the next growth crypto in 2025. The reason why Lunex Network is attracting both short and long-term holders is the platform’s multi-chain trading capabilities.

Launching a non-custodial ecosystem that is powered by the latest Web3 technology, Lunex Network allows traders to swap any two cryptocurrencies across 40,000+ different blockchains. If that wasn’t enough, then Lunex Network is offering this cross-chain interoperability at the lowest cost in the market.

Thanks to Lunex Network’s smart contracts, the platform is able to source liquidity from different networks and split the trade in the most efficient manner to offer the lowest transaction cost to traders. By using smart contracts, Lunex Network also removes all automated market makers and gives traders complete transparency and control over their digital assets.

To make things even better, Lunex Network’s revenue-sharing model gives back to long-term holders through weekly rewards. After generating revenue from sources like transaction fees and merchant listings, Lunex Network repurchases LNEX tokens from the open market through a buyback mechanism.

These tokens are then distributed to current stakers as rewards with up to 18% APY, which allows traders to earn a consistent passive income by investing in Lunex Network.

Lunex Network is currently in stage 4 of its presale and the LNEX token is selling for a low price of only $0.0017. As Lunex Network gains momentum in the upcoming bull market, analysts are expecting the token’s price to surge high before the end of the presale stages.

You can find more information about Lunex Network (LNEX) here:

Lunex Network Website | Lunex Socials