Next Cryptocurrency to Explode: BONK, PEPE, PEPU, UOS, and CHR Dominate the Gainers List

Although cryptocurrency prices have been falling for a while, the overall feeling in the market remains positive. Recently, Bitcoin (BTC) has been struggling

Bitcoin (BTC) has been struggling to regain the $60,000 level for a while now, and Ethereum (ETH) is striving to stabilize at $3,000. However, identifying the next cryptocurrencies to explode might take some work as most funds are attracted to pumping assets. Today’s article explores the performance of cryptocurrencies that have dominated the gainers list in the last 24 hours. The objective is to identify coins with some potential and inform investors and traders about each token.

Next Cryptocurrency To Explode

Today’s article discusses the performance of potentially explosive cryptos that investors should add to their watchlist. It also includes a special mention of Pepe Unchained, a new Pepe-themed meme coin launched on its Ethereum Layer 2 blockchain. Within minutes, it attracted over $150,000 in investments. The details of its presale and the performance of the top-performing cryptos today are shared below.

1. Bonk (BONK)

Amid growing interest in the Solana ETF, the Solana-based meme token BONK has seen significant gains, leading today’s crypto market. Over the past 24 hours, BONK’s value has surged by 24.34%, reaching $0.00002665, aiming to recover last week’s losses.

Initially, BONK faced a bearish trend with support at a low of $0.00002. However, a proposal to reduce token supply boosted investor sentiment, increasing market capitalization by 24.26% to $1.83 billion.

According to CoinMarketCap, BONK has outperformed other Solana network meme coins like WIF, BOME, and SLERF. The rise in interest is due to several developments, including BONK’s addition to the on-chain data provider Xangle. Investors can now access real-time information about BONK, from circulation to exchange listings, all in one place.

BONK DAO has received a proposal to BURN ~84B BONK from its Treasury representing the Q2 amount of BONK sent to the DAO from BONKBot.

All BONK locked on BonkRewards is now able to vote on community proposals.

Voting:https://t.co/akvJAfpCcM

— BONK DAO (@bonk_dao) July 8, 2024

The Bonk DAO account on X also announced a request to burn over 84 billion BONK tokens from its Treasury. BONKBot gave these tokens to the DAO in Q2, which can now be used to vote on community initiatives.

Market analysts noted a 158.09% increase in trading volume, reaching $562.24 million, indicating renewed investor interest post-announcement. While the proposal awaits final community vote approval, its immediate market impact is clear. This follows an April precedent when the BONK DAO approved a burn of 278.39 trillion BONK tokens with a 99.9% approval rate. Previous token burns have typically led to positive price adjustments, showing investor confidence in the token’s management and strategy.

2. Pepe (PEPE)

The PEPE price has rebounded strongly from its monthly lows after failing to maintain support at $0.00000925. This has drawn significant buying interest, pushing the price close to $0.00001. However, the trading volume is still a limiting factor as the buying momentum is fading. Consequently, the price may stay within a consolidated range for a while before experiencing significant movement.

On Monday, meme coins saw a strong rally, with popular tokens like Bonk and Pepe among the top performers in the market. The frog-themed Pepe token was the second-best performer, with holders seeing profits of over 15% in the last 24 hours. The Ethereum-based token also increased its trading volume by 63% to $1.15 billion, the highest among meme coins.

The PEPE price has been moving upward within a parallel channel for several months. Recently, a bearish trend pushed the price below the support level. However, instead of continuing to fall, the price started to rebound. The RSI also reversed after hitting the lower limit. Meanwhile, the MACD is close to a bullish crossover, indicating that buying pressure may soon increase. Until then, the price might stay stable before experiencing a significant rise beyond $0.000012.

3. Pepe Unchained (PEPU)

Pepe Unchained ($PEPU) surpasses expectations by raising over $2.85 million in presale funds. On Saturday, the new meme coin, which operates on its own blockchain built on Ethereum, had already crossed the $2.5 million mark. It then added another $250,000 within 24 hours