Crypto Express

07/11 04:28

BONK : Memecoins recalibrate as risk sentiment

With the memecoin market turning risk-on, capital rotation has been picking up pace. 

With Bitcoin [BTC] breaking into price discovery, traders are now cycling into high-beta plays, chasing asymmetric upside. 

PEPE is starting to front-run this rotation. It posted an 11% move in under 72 hours. Meanwhile, BONK retraced by nearly 8% after tagging the $0.000023 supply wall – A level where realized profits surged to a five-month high of $11.7 million.

On the other hand, PEPE kicked off July with nearly 10k new addresses, pushing total holders to an all-time high of 11.42 million.

In fact, this on-chain expansion aligned with a clean breakout above the $0.000010-level, while PEPE/BTC printed a bullish reversal.

Therefore, with BONK fading off its supply wall and risk capital rotating back into high-beta meme plays, PEPE may technically be primed to lead the next momentum cycle.

#HTX 12th-Anniversary Carnival#Share Your Thoughts on Popular Assets in June#Claim1,200 USDT in the Monthly Creation Challenge# Israel’s attack on Iran.#US May CPI data

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