BONK and PEPE Soar and Crash: Holders Look to DeFi Tokens for Relief

BONK and PEPE both soared on meme-fueled hype earlier this year but now face significant drops that leave holders looking to DeFi tokens for relief.

Meme coins like BONK and PEPE soared earlier this year, fueled by hype and soaring prices. But as the initial buzz fades, both coins have faced significant drops, leaving many holders searching for a lifeline in DeFi tokens.

Despite early gains of 2,400% for BONK and 1,120% for PEPE, a heavy sell-off has cut their values in half. Now, both coins trade at a fraction of their former highs, prompting investors to question each project’s future and pivot toward finding a more stable path in the market.

This shift in focus highlights a broader market sentiment. Even popular meme coins, once thought to be immune to severe corrections, are now feeling the sting as the bull run grinds to a halt. While high-risk assets can yield impressive returns during bull runs, the downside is equally steep. Holders of BONK and PEPE, feeling the brunt of recent losses, are hunting for tokens with more tangible value and real-world use cases.

Let’s dive deeper into how BONK and PEPE are faring and where else investors are looking for stability in 2023.

BONK Searches for a Lifeline in DeFi

After peaking at an all-time high of $0.0000590547, BONK has struggled to maintain momentum, dipping toward $0.00001622. On the weekly chart, a bullish engulfing candlestick hints at a possible rebound.

The team behind BONK remains optimistic that a double-digit climb could reestablish trust among holders. Still, skeptics warn that meme tokens often hinge on sentiment rather than strong fundamentals.

On the surface, many Bonk holders now eye DeFi platforms, hoping to regain lost ground through staking or liquidity pools. Some believe that pivoting to DeFi-based returns might offset future price dips. However, even this approach carries risks in a volatile market.

Compared to Bonk’s unpredictable path, Remittix (RTX) has caught the eye of those hunting for a more grounded DeFi option, fueled by practical payment use cases rather than memes.

PEPE Banks on Ethereum’s Future for Recovery

PEPE, regarded as Ethereum’s second-largest meme coin, soared in popularity but has lost nearly half its value. Its fate is tied, in part, to Ethereum’s own underperformance, as ETH has fallen 5% over the past 12 months while major rivals like BNB and XRP surged. Some supporters see a potential breakout in the works, pointing to bullish divergence signals on PEPE’s chart.

Still, PEPE relies on a strong Ethereum rebound to kickstart any real price surge. If ETH weakens further, Pepe might drop toward key supports at $0.0000060 or $0.0000038. That uncertainty has spurred holders to investigate DeFi tokens for a more reliable yield.

Against this backdrop, many compare PEPE’s shaky future to the steadier progress of Remittix, which offers quick crypto-to-fiat payments rather than hype-driven speculation.

A New DeFi Token Rises Above the Noise

As BONK and PEPE holders try to salvage positions, one standout DeFi token has investors buzzing: Remittix. Priced at $0.0628 after a 318% jump, Remittix has already raised over $12 million and sold more than 460 million tokens.

Where meme coins rely on crowd sentiment, Remittix focuses on practical, cross-border finance. Its platform converts crypto into local currencies almost instantly, bypassing the fees and delays of traditional banking.

Imagine a neighborhood café in Southeast Asia that sources specialty beans from farmers across multiple countries. Tracking exchange rates and bank transfers typically eats up profits. With Remittix, the café can accept digital assets for faster payments, then auto-convert them into local currency to pay suppliers.

This everyday convenience helps explain Remittix’s growing popularity among those who want something more dependable than meme coins.