The meme coin market, which kicked off the year on a high note, has, in recent weeks, recorded massive losses. On-chain data now reveals that traders are giving up on top meme coins Pepe (PEPE) and Bonk (BONK) and shifting to Rollblock (RBLK). The revenue sharing model of RBLK has fastened the attention of the traders as it allows the generation of passive income.
Top Traders Cash in on Pepe (PEPE) As Price Plunges
Looking back at May, one of the most popular tokens in the meme coin market was Pepe (PEPE), which had its value increase by nearly 300%. Since setting an ATH of $0.00001717, the price of Pepe coin has been on a sharp decline, losing more than 38% of its value to drop to the $0.0000100 range.
Along with the price decline, on-chain data shows that traders have been on a major sell-off. Lookonchain reported that a top trader capitulated and sold all his Pepe holdings worth $1.27 million. This massive sell-off highlights the bearish trend among traders holding the meme coin.
Bonk (BONK) Declines, Gives Up Gains
Similar to Pepe, Bonk (BONK) is one of the top meme coins that had a very strong start of the year. In the year 2024 alone, the meme coin has established two ATHs, the latest of which was at $0.00004574. Nonetheless, the meme coin has since that time been on a downward trend and most of its gains have been wiped out.
Since its ATH, the price of Bonk has dropped by 56% and has been contained within the $0. 0000200 region. Because of the massive price decline Bonk has recorded over the last few weeks, traders and investors have been liquidating their positions in search of more promising altcoins, of which Rollblock is now number 1.
Investors Turn To Rollblock (RBLK) for Gains and Passive Income Generation
Contrary to traders capitulating because of the meme coin market decline, Rollblock (RBLK) has seen a surge in new investors. Over the last few weeks, Rollblock has welcomed over 3,000 new users as its RBLK token has been one of the best altcoins in the market, rallying by 40% while other cryptos are facing a decline.
There is another interesting aspect that has been pulling investors towards Rollblock and that is its unique approach towards revenue sharing. Out of the weekly revenue that Rollblock makes, up to 30% will be used to buy back the RBLK token from the market. 50% of each transaction will be sent to the burn address to enhance the scarcity and value of RBLK, and the other 50% will be distributed to the RBLK stakers. This means RBLK will be able to offer some of the most lucrative staking rewards on the market, something that has really caught investors’ eyes.
Market experts believe this model could make RBLK the best crypto to buy because it increases the value of RBLK while attracting more users to buy and HODL RBLK. Another reason why there has been a lot of hype around RBLK is its online gambling platform powered by GambleFi.
Thus, Rollblock is introducing a new protocol that will solve the problem of transparency, effectiveness, and fairness in the casino and online gambling industry worth $450 billion. The Rollblock casino is operational, and this means that people are capable of making profits. The Rollblock team has also come up with a $20k prize giveaway for the users who engage in betting on the current Euro 2024 football championship. You are required to join their discord community should you wish to participate.
In Conclusion
While the prices of Pepe and Bonk have been dropping, traders are dumping them while investors are flocking to Rollblock (RBLK). Besides being one of the best altcoins in the recent crypto market downturn, experts are confident that the specific application of Rollblock will push the price of RBLK higher. Now, RBLK is considered the best crypto to buy because it has the potential to 50x.
Discover the Exciting Opportunities of the Rollblock (RBLK) Presale Today!
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The post Traders Capitulate on Meme Coins As Market Forms Downturn, Moving From Pepe (PEPE) and Bonk (BONK) to Rollblock (RBLK) for Revenue Generation appeared first on CaptainAltcoin.
