The cryptocurrency market is experiencing a huge shift in investor mindset, with cash flowing from large-cap assets to memecoins. BONK, a relatively recent entry, has made significant gains, raising optimism for a new bullish rise. As investors seek bigger profits, memecoins are gaining traction.
These assets, with their lower market size and more volatility, provide a riskier but possibly more profitable investment option. As the market evolves, one question remains: Is ALGT next in line for a major price increase after the memecoins?
Bonk price Up 42% – Price chart shows no sign of slowdown
BONK, the meme coin, has been on a wild ride since its release on Christmas Day in 2022. It took about a year for the larger crypto community to take notice, but when they did, it surged to an all-time high of $0.000048 by March 2024. That was followed by a 40-day correction period where the price plummeted by 74.75%, leaving many wondering if the party was over. But BONK had other plans! On April 20th, 2024, it pumped again, rising by over 184% in just 38 days.
The latest green days for BONK have been particularly impressive, thanks to some positive news from the regulatory front. The US Securities and Exchange Commission’s ruling on Ethereum ETF applications was seen as a positive sign by the crypto community, leading to a rally for major cryptocurrencies like Bitcoin and Solana. BONK, being a Solana-based meme coin, rode the wave and saw its price soar. With its multi-utility features and growing popularity, BONK is one to watch in the crypto space.
Investors are looking for memecoins rotation after Bonk
While Bonk is on its way to retest its all-time high, it is unclear whether the token will be able to sustain itself for much longer. BONK offers several use cases, however, the majority of them are part of decentralized apps with a tiny audience. Many investors are seeking for a newer meme currency with a viable use case.
Multiple memecoins prices are up with Bonk price surge
Several memecoins prices, like PEPE and FLOKI, have benefited from Bonk’s price gain. Pepe’s price has risen by 24.65% in the last 24 hours, to $0.00001383. This surge has boosted its market capitalization to $5.82 billion, putting it at number 21 among cryptocurrencies. Investors appear to have moved to PEPE while exiting previous meme currencies such as Dogecoin (DOGE) and Shiba Inu (SHIB).
The recent surge by Floki price is $0.000237. Its price has increased by 13.21% in the previous 24 hours, indicating a strong rising trend. This latest price action has been backed by a high 24-hour trading volume of $447.87 million.
ALGT could be the next big thing after memecoin rally
Algotech (ALGT) is a decentralized cryptocurrency trading web system that uses artificial intelligence to provide superior performance and outcomes. Its AI algorithms automate trading techniques, allowing for faster decision-making based on exact market data. Algotech allows you to trade with a variety of cryptocurrencies, providing strong liquidity and exponential profit outcomes.
Despite declining cryptocurrency prices, Algotech continues to meet earnings objectives during its ongoing public presale. Investors have picked ALGT as a top presale coin, with presale participants promising a 275% price rise. Algotech’s unique features and capabilities make it an appealing alternative for both new and experienced investors.
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