Pepe & Bonk Prices Continue to Rise as New Meme Coin ICO Nears $1m
Holders of Pepe (PEPE) and Bonk (BONK) are celebrating this week as both tokens have experienced remarkable price surges.
Meanwhile, the new meme coin project Scotty the AI (SCOTTY) is also generating massive momentum in its ICO and rapidly approaching the $1 million funding milestone.
PEPE Price Goes Parabolic as Trading Volumes Hit $1.9bn
PEPE has posted four bullish daily closes in a row, with a fifth looking highly likely.
The token is trading around the $0.0000033 level, which marks PEPEs highest value since May 2023.
Over the past five days, PEPE has rocketed 178%, giving investors a taste of the momentum seen during the tokens original bull run in 2023.
Helping fuel this price surge is a colossal increase in spot trading volumes, which have reached $1.9 billion in the past day.
This volume propels PEPE to the ninth position among the most-traded cryptocurrencies, passing market veterans like Dogecoin (DOGE) and BNB (BNB).
PEPEs surge is further fueled by an influx of smart money purchases.
According to data from Nansen, $1.7 million in investment rolled in over the past 24 hours, which is the fourth most for any crypto asset.
This suggests theres growing confidence in PEPEs prospects from major investors.
BONK Surges Amid Meme Coin Buying Frenzy
Its not just PEPE that has been rising fellow meme coin BONK is also experiencing a remarkable bull run.
Like PEPE, BONK has posted four consecutive daily closes and is now trading around the $0.000016 level.
During that time frame, BONK breached the key resistance level at $0.0000145, which hadnt been broken since early January.
Although there hasnt been a clear catalyst for the tokens rise, investors have still clamored to get involved in the uptrend.
Over $535 million worth of BONK traded hands in the past 24 hours an 88% increase from the previous day.
BONKs rise likely reflects the broader bullish sentiment surrounding meme coins.
According to CoinMarketCap data, the meme coin markets total value has surged above $27 billion, representing an enormous increase from last month.
PEPE and BONKs price spikes have helped reignite investor interest in the sector, which has also benefited from the positivity surrounding Bitcoins (BTC) bull run.
With the meme coin momentum showing no signs of slowing, there are likely to be further gains ahead for both established and under-the-radar tokens.
Scotty the AI Set for Lift-Off as AI-Powered Features Draw Huge Attention
One under-the-radar token that looks well-positioned to benefit is Scotty the AI.
Scotty the AI is a new meme-themed project hosted on Ethereum that combines AI technology with hilarious visuals.
The projects main features are ScottyChat and Scotty Swap, both fueled by the native SCOTTY token.
ScottyChat is a decentralized chatbot providing users with insights into crypto trends and breaking market news.
Scotty Swap is Scotty the AIs AI-powered DEX, aiming to simplify token swapping for beginner investors.
Both of these tools have caught the crypto communitys attention, with Scotty the AIs Telegram channel attracting over 3,500 members in recent weeks.
Adding to the buzz is that Coinsult has audited Scotty the AIs smart contracts giving it a layer of legitimacy that many new meme coin projects lack.
Unlike PEPE and BONK, SCOTTY isnt yet available on the open market.
However, the development team is hosting an ICO where investors can buy SCOTTY tokens at a discounted rate.
Tokens are currently on offer for just $0.0060, yet this price will gradually increase over time.
This setup has been received exceptionally well, with Scotty the AIs presale fast approaching the $1 million funding milestone.
With BONK and PEPEs price rise showing that investor appetite for meme coins is still strong, SCOTTY could be another winner when it lists on exchanges later this year.
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