💥💥💥 Pepe, #Bonk surge despite sell-off in #Memecoins🤑🤑
PEPE and BONK have defied the broader crypto market downturn, showing notable gains over the past 24 hours. Analyst Michael van de Poppe suggests a market rebound is possible due to key macroeconomic events this week, including the Consumer Price Index (CPI) release, the Federal Open Market Committee (FOMC) meeting, and the Federal Reserve’s interest rate decision.
PEPE's Performance:
- PEPE reached a low of $0.00001163 on June 11 but bounced back to around $0.000013, marking an 8% increase over the past 24 hours. If support holds, further upside is possible.
BONK's Performance:
- BONK, Solana's first dog-themed memecoin, is currently priced at $0.00002872, up 6% in the past 24 hours. Although it reached an all-time high of $0.00004547 in March, it is down 17% over the past week. Today’s bounce could lead to further gains.
Market Outlook:
- Despite Bitcoin's decline and pressure on other altcoins, van de Poppe believes a bullish reversal is likely, especially after the FOMC meetings. The resilience of PEPE and BONK amidst market declines highlights the dynamic nature of the crypto market, particularly in the meme coin segment. Investors should closely monitor these developments given the upcoming macroeconomic events.
Source - coinjournal.net
