The Ongoing Bull Run Looks Set to See a New Set of Leaders as Several Coins Saw a Notable Spike in On-Chain Activities That Could Push Their Prices to Notable Highs

The cryptocurrency market remains active, with currencies such as Shiba Inu, PEPE, BONK, and Rexas Finance emerging as market leaders in their own areas.

The cryptocurrency market continues to see a lot of activity, with some coins like Shiba Inu, PEPE Coin, BONK, and Rexas Finance (RXS) emerging as the top gainers in their respective segments.

Shiba Inu (SHIB) has been making headlines with a 6,000% increase in its burn rate. As a token burn reduces the circulating supply of SHIB, it may lead to an increase in demand and price. Furthermore, massive whale accumulation and strong community support have helped propel SHIB by 50% over the last month, bringing it to a price of $0.00002668 with strong technicals. Notably, several crypto influencers, like Carl "The Moon," have shown their long-term belief in SHIB with lofty price targets. Since earlier this year, Shibarium Layer-2 has been launching meme coins into the mainstream crypto market, and their popularity can be attributed to their adaptability. According to technical indicators, we can expect a potential price breakout for SHIB as it aims to reach the $0.00005 mark before the year ends.

PEPE Coin (PEPE) has had a rollercoaster of a movement, seeing drastic price swings over recent weeks. Despite a 30% drop from its peak in November, many are expecting a return to those levels due to bullish chart patterns like the falling wedge formation. Currently trading at $0.00001824, reaching the elusive $1 mark will take a lot of market activity, and many experts find it unlikely given PEPE's massive supply and speculative nature. However, the coin's listing on major exchanges like Coinbase and Robinhood has increased awareness and brought in retail investors. Notably, its ability to maintain attention in a crowded meme currency market implies that a breakout is still possible as long as it gains enough traction.

Finally, among the new meme coins, BONK has quickly gained popularity, attracting the attention of meme coin investors worldwide. Notably, its trading volumes on Upbit have outpaced even established tokens like Solana (SOL) and Ethereum (ETH (CRYPTO:ETH))—a testament to BONK's growing presence in the market. Recently breaking its all-time high of $0.00004781, BONK is presently consolidating above it, indicating potential for additional upward movement. Interestingly, with substantial engagement from both Western and Asian markets, BONK has emerged as a leading contender in the meme coin category. As the cryptocurrency continues to gain attention and trading activity remains high, it is poised to test its next resistance level of $0.00005941 and set new price milestones.