Bonk, Pepe Breaks From Memecoin Trend

The market experienced a significant decline on 11th June, and memecoins were not spared from the downturn. However, in the last 24 hours, Pepe and Bonk

Memecoins, including Dogecoin (DOGE), experienced a downturn on 11th June, following the market trend. However, in the last 24 hours, some memecoins have shown signs of recovery.

An analysis of the memecoin rankings on CoinMarketCap showed significant declines in the value of most assets over the last seven days.

Dogecoin (DOGE), which has the largest market cap among memecoins, declined by over 15% over the previous seven days and nearly 1% in the last 24 hours.

However, further analysis showed that Pepe and Bonk had followed a different trend in the last 24 hours, showing signs of recovery.

Despite this short-term uptick, they remain in the red over a longer time frame.

The chart indicated that in the last 24 hours, Pepe has recovered over 8%, marking the highest recovery among the top-6 memecoin assets as of this writing.

Additionally, analysis showed that Bonk had the second-highest gains in the last 24 hours. The data indicated that it had recovered by over 7% as of this writing.

Similar to the frog-themed asset, Bonk’s decline remained in double digits in the last seven days.

An analysis of Pepe coin on a daily time frame showed that while the market was down on 11th June, it saw an increase.

The chart indicated that the memecoin’s value rose by over 5%, trading at around $0.00001137. As of this writing, it has increased again by almost 3%, now trading at around $0.0000131.

An analysis of Bonk on the daily time frame showed that, like Pepe, it saw a slight increase in the previous trading session.

However, it is in the current trading session that Bonk is experiencing a significant price increase.

As of this writing, Bonk was trading with an almost 6% increase. The chart indicated that it was close to climbing above its yellow line, which has served as resistance until now.

Despite the significant price increase, Bonk remained in a bearish trend, although this trend appeared to be weakening.