PEPE and Bonk Experience Drop in Value
In a recent market flash crash, the prices of various cryptocurrencies plummeted. Meme coins, in particular, took a hard hit, with PEPE and Bonk seeing significant drops.
While the overall market is recovering, PEPE and Bonk continue to struggle. PEPE has experienced a 9.58% decline this week and a 10.35% decline this month.
Bonk, on the other hand, has seen a 26% drop this week and a staggering 66% drop from its all-time high on December 15th.
Potential Buying Opportunities
Despite these selloffs, some analysts believe that they may present buying opportunities.
ZaZa, a trader, suggests that PEPE is currently trading at its lowest point and predicts that it will soon reach $0.0000025. Currently, PEPE is trading at $0.000000123.
Mirage, another trader, believes that Bonk may recover after its sell-off and could potentially reach $0.00004 and later $0.0000113.
Sponge V2 Gains Attention as it Nears Launch
Sponge V2 is gaining traction as investors look forward to its launch. Sponge V2 is an improved version of the original Sponge meme coin and features a play-to-earn racing game that allows holders to earn free cryptocurrency.
The team behind Sponge V2 aims to absorb liquidity from new meme coins and provide the community with a second chance at success.
Currently, Sponge V2 is only available through its buy-and-stake campaign on the Sponge.vip website. It will later be listed on major exchanges.
Hot Take: Potential for Sponge V2 to Rally
Sponge V2 has the potential to rally due to its unique play-to-earn utility. With the upcoming launch of its racing game, holders can earn free cryptocurrency while providing tangible value to the SPONGEV2 token.
Analysts remain optimistic about Sponge V2, especially with the anticipation of spot Bitcoin ETFs potentially being approved on January 5th.
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