Looks like the meme coin party isn’t over just yet.
Bonk Price Surges as New Meme Coin PlayDoge Hits $5.5M Milestone in ICO
This article was published more than a year ago. Some information may no longer be current.
SHARE
Solana-based token Bonk (BONK) is leading the comeback with a sharp rally in the past 24 hours.
Meanwhile, a new project called PlayDoge (PLAY) is turning heads with its own success – raising over $5.5 million in its ongoing ICO.
BONK Roars Back with 13% Price Surge
Bonk is back making headlines.
This dog-themed coin has surged 13% in the past day, now trading at $0.000026.
That represents a significant jump from Friday’s low – showing there’s still life in this fan-favorite token.
What’s interesting is that BONK is now approaching a key resistance level that stopped it last Tuesday.
It’s also on the verge of breaking through its 50-day exponential moving average (EMA) – a bullish sign for those who follow the charts.
And BONK’s trading stats are also impressive.
Spot volumes have shot up by 159% in the past day, hitting $564 million.
That makes BONK the 4th most traded meme coin globally – flipping Shiba Inu ( SHIB).
Open interest is up, too, climbing 32% in the past day.
It seems like traders are jumping in, looking to capitalize on the bullishness.
It remains to be seen whether this is just a temporary spike or the start of a sustained rally, but for now, BONK is the talk of the town.
Meme Coins Rally After Bitcoin Rejects $55,000
It’s not just BONK having a good day – most meme coins are seeing green.
PEPE is up 13%, DOGE has climbed 4%, and newcomer PEIPEI has jumped 10%.
Only TURBO is struggling, down 4% in the past 24 hours.
This rally has pushed the meme coin sector’s total market cap to $42 billion.
Spot trading volumes have surged too, hitting $5.4 billion.
That’s a sharp uptick in activity.
So, what’s driving this sudden burst of energy?
It looks like Bitcoin is playing its role as market leader – after briefly touching $55,000 yesterday, it has rebounded by 4%.
And as often happens in crypto, Bitcoin’s movements are influencing the entire market.
When BTC moves, others follow – meme coins included.
Additionally, the Crypto Fear & Greed Index hit a low of 27 earlier today.
Often, when there’s overwhelming fear in the market, investors actually opt to dive back in, looking for opportunities to buy low and profit from any rebound.
Ultimately, these two factors are driving the current meme coin bullishness.
PlayDoge ICO Hits $5.5M Milestone After Project Goes Viral on Social Media
Newcomer PlayDoge is also cashing in on the positivity.
The project just hit a major milestone, passing $5.5 million in ICO funding.
Not bad, considering PlayDoge’s ICO only launched on May 28.
Right now, early investors can snag PLAY tokens for $0.00517 each.
But the price will increase in two days when the next stage kicks off, so those seeking the biggest discounts will have to act fast.
The main reason for PlayDoge’s early success is that it combines retro vibes with modern crypto trends.
Picture a Play-to-Earn game that’s like Tamagotchi but with crypto rewards.
Players nurture a virtual pet, but instead of just having fun, they’ll earn real PLAY tokens.
And let’s talk about the enormous buzz on social media.
PlayDoge’s Twitter and Telegram channels are growing fast, with people around the world piling in to learn more about the project.
It’s a great sign, considering PlayDoge’s key features are still under development.
No wonder YouTuber star Crypto Mischief described it as the “next big crypto game.”
So, with BONK on the rise and the meme coin market heating up, PlayDoge seems in a perfect position to benefit.
This is a sponsored brand spotlight content post. Learn how to reach our audience here. Read disclaimer below.
