The Rise of Meme Coins: SNEK and BONK
The meme coin market has seen a surge in the past week, with Cardano’s Snek (SNEK) and Solana’s Bonk (BONK) experiencing significant gains. These meme-inspired coins have attracted retail investors looking for the next Dogecoin or Shiba Inu.
SNEK Surges After Investor FOMO Boosts Forgotten Meme Coin
SNEK holders have had a great week, with the coin’s price rising almost 170% since last Friday. It is now trading at its highest value since June. Over $3.5 million worth of SNEK exchanged hands in the past 24 hours, indicating renewed interest and hype surrounding the token.
BONK Price Explodes Over 5,500%, Hitting All-Time High
The BONK meme coin on Solana has seen even more parabolic price action than SNEK. It has skyrocketed over 5,500% since the start of November, hitting an all-time high. BONK is now the third-largest meme coin globally, surpassing Pepe (PEPE) coin.
Could an Ethereum-Based Meme Coin Could Explode Next?
With meme coin mania spreading to networks like Cardano and Solana, attention turns to whether an Ethereum-based project could be the next big thing. Ethereum’s recent rally is starting to benefit existing meme coins like Pepe (PEPE). Some investors believe that Ethereum’s strength could provide an opportunity for a relatively unknown project to break out in a similar fashion to SNEK or BONK.
Meme Kombat and Wall Street Memes: Potential Candidates
Meme Kombat and Wall Street Memes are two potential Ethereum-based meme coin candidates. Meme Kombat offers an AI-powered battle arena and a staking protocol for investors. Wall Street Memes is inspired by the GameStop short squeeze and has already climbed the ranks of top meme coins on CoinMarketCap.
Hot Take: The Future of Meme Coins
The rise of SNEK and BONK highlights the growing popularity of meme coins in the crypto market. As investors continue to seek out the next big thing, attention may shift to Ethereum-based projects like Meme Kombat and Wall Street Memes. The viral potential of these coins could attract a surge of interest from internet communities if Ethereum continues to gain ground.
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