The cryptocurrency market has been struggling for a while. Recently, after the interest rate decision announced by the FED, the BTC price started to decline despite positive inflation data, dropping from $70,000 to $58,500. While the price remains above $60,000, some analysts suggest it could fall to $54,000. So, what is happening with meme coins like BONK, PEPE, SHIB, and the highly discussed altcoin Ethereum?
BONK Coin Price
BONK, which made a significant impact at the end of 2023, is one of the most notable meme coin projects on the Solana network. However, things do not look good for BONK today, as part of the airdrop frenzy that came with SAGA phones.
As of the time of writing, BONK has seen a 6.32% drop in the last 24 hours, with its price at $0.00002274. While the 7-day outlook shows a 13% increase, the 30-day outlook reveals a disappointing 43% drop.
BONK’s market cap has fallen to $1.55 billion. The 24-hour trading volume also saw a 36% drop, resulting in a value of $178 million. This decline indicates a decrease in interest in both cryptocurrencies and BONK.
Pepe Coin Analysis
One of the biggest surprises of 2023 was PEPE, the third meme coin to shake the market after DOGE and SHIB. PEPE emerged during a quiet period in the market and significantly increased the Ethereum network’s activity.
In March, alongside the BTC-driven market rise, PEPE made a second impressive appearance, setting new all-time highs. However, PEPE has since experienced sharp price declines and continues to struggle today.
After a 6% drop in the last 24 hours, PEPE is trading at $0.00001162, with its market cap falling to $4.890 billion. PEPE’s trading volume also dropped by 5%, falling below $500 million.
Ethereum Price in TRY
Since the end of May, Ethereum, the second-largest cryptocurrency by market cap, has been frequently mentioned. Despite a 0.55% increase in the last 24 hours, Ethereum’s price remains far from the $2,900 levels seen before May 23.
Ethereum’s market cap remains at $407 billion, indicating that the critical $400 billion level is being defended. Additionally, the 24-hour trading volume increased by 5.39%, reaching $12.6 billion. In terms of TRY, Ethereum’s price is currently at 111,800 TRY.
There are rumors that spot ETFs might be approved in the middle of next week, which could lead to significant price movements similar to those seen with BTC.
