The altcoin market is thriving today, and XRP, Bonk, and Pepe Unchained are three of the tokens displaying the most strength.
Sentiment is high as Bitcoin holds steady under $100K. Traders are moving capital to altcoin markets to maximize their potential for gains.
XRP Smashes 2021 Bull Market High
XRP has surpassed its 2021 peak with an 14% rally in the past 24 hours.
It’s currently trading at $1.89, leaving a 50.7% gap to catch its seven-year-standing all-time high (ATH) from 2018.
The recent move is fueled by a regulatory “greenlight” after Trump’s win in the US election. Trump is expected to usher in a more favorable regulatory environment for the industry, and it’s already playing out in real-time.
SEC Chair Gary Gensler announced he’ll resign on 20 January – the same day Trump is inaugurated. He’s expected to be replaced by crypto-savvy SEC commissioner Paul Atkins.
Gensler’s department from the SEC will see the agency’s long-standing lawsuit against XRP founder Ripple Labs finally put to rest.
As a bonus for the XRP price, Bitwise recently filed for an ETF that would include ten cryptocurrencies, including XRP. The others are Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), Cardano (ADA), Avalanche (AVAX), Chainlink (LINK), Bitcoin Cash (BCH), Polkadot (DOT), and Uniswap (UNI).
The launch of crypto ETFs has historically benefitted the underlying asset price. With Trump taking office, it will be interesting to see how this unfolds.
Bonk Is Solana’s Top Dog Again
Bonk is showing all the signs of cryptocurrency gaining long-term momentum. Last week, it flipped Dogwifhat to become Solana’s most valuable meme coin, and WIF hasn’t been able to regain its throne since.
Bonk was Solana’s top meme coin in the first innings of Solana’s meme coin season (late 2023-early 2024). However, Dogwifhat’s rise enabled it to surpass Bonk and even Pepe at one point.
But now, Bonk is back on top. It has pumped 3.9% in the past 24 hours and 120% this month. It remains down 7% this week, but investors aren’t panicking thanks to its huge rally this month.
In fact, traders anticipate much more gains ahead. Freedom By 40 says Bonk is preparing for a rally toward a new ATH, targeting $0.000025 as an end goal.
Bonk’s strength reflects a broader market appetite for meme coins, which has been prevalent since Pepe’s emergence in April 2023.
Is Pepe Unchained the Next Breakout Star?
New meme coins continue to launch and expand the meme coin mania, and the latest to do it is Pepe Unchained.
The project is undergoing a presale where it has raised close to a record-breaking $60 million. And it’s already getting more searches than Pepe coin on Google.
There’s good reason for it – Pepe Unchained is far from a run-of-the-mill meme coin.
They’re building an Ethereum layer 2 blockchain called Pepe Chain, which will enable people to launch meme coins and meme coin-related apps in an ecosystem that is built for it.
The Pepe Chain will be 100x faster and a lot cheaper than the Ethereum main network. It will also come with a no-code meme coin generator, a blockchain explorer, a dedicated Ethereum bridge, a decentralized exchange, and staking.
Its presale success reflects immense market demand. And the token is preparing to launch on tier-1 exchanges. The presale ends in 13 days.
Once it lists on exchanges, millions of new investors will have access to it, which could bring in far more capital inflows than what we’ve seen in the presale.
Top analyst ClayBro says its price could rise 100 times higher than it is today after launching on exchanges.
However, within just 13 days left of the presale, prospective buyers must act fast.
Investors can buy the presale on the project’s website or using the Best Wallet app’s Upcoming Tokens feature.
