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All cylinders are firing in the crypto market today as prices surge across the board.
However, projects like Bonk, Pepe, and HarryPotterObamaSonic10Inu (BITCOIN) have provided outsized gains.
Let’s take a closer look at the five top performers.
Bonk
Bonk has taken the market by storm today with a sweeping 25% increase.
A double-whammy of bullish market conditions and a burn proposal by the project’s treasury have propelled its growth.
The Bonk DAO announced the proposal on Tuesday, with plans to destroy 84 billion BONK tokens.
This will lower Bonk’s total supply, thus improving its tokenomic outlook and making it more appealing to investors.
The tweet revealed that this is the amount of tokens sent to the DAO from the Bonk trading bot.
This combination of a meme coin allure and trading bot utility has proved beneficial, with Unipcs attributing it to Bonk’s “incredible strength.”
Bonk is currently trading at $0.00002658. In addition to its 25% uptick today, it is up 2% this week and down 4% this month.
This is a significant lead on its Solana-based peer, Dogwifhat, which is down 35% this month.
Pepe
Pepe is another meme coin that caused a splash today.
It is up over 12% in the past 24 hours, with its relative strength stirring anticipation for further gains.
Pepe’s 24-hour trading volume has skyrocketed, currently at $1.1 billion. This makes it the most-traded meme coin and the tenth most-traded cryptocurrency.
And by market cap, it is the third-largest meme coin and 24th-largest cryptocurrency.
This trading volume to market cap ratio shows that traders are paying close attention, so there’s a good chance its price growth will continue.
Pepe’s recent strength comes as Ethereum spot ETF applicants file their S-1 documents to the SEC, signifying the launch of Ethereum ETFs is a step closer.
JUST IN: All spot #Ethereum ETF applicants filed updated S-1’s
• Fidelity
• VanEck
• Franklin
• 21Shares
• Grayscale
• BlackRock— Watcher.Guru (@WatcherGuru) July 8, 2024
Pepe’s position as Ethereum’s front-running meme coin means it could massively benefit from liquidity inflows following the ETF launches.
WienerAI
As mentioned, the root of Bonk’s success is a cryptocurrency trading bot and the revenue it has brought in.
WienerAI features a similar concept but raises the bar with AI integrations.
Furthermore, the token is undergoing a presale, so investors can buy it at the lowest price. So far, it has raised over $7 million.
The presale will fund the development of an AI-powered crypto trading bot. The bot’s features are more sophisticated than Bonk’s.
It’s comparable to ChatGPT for trading. Users can ask it questions or set out criteria. The bot will then scan the market for the best trading opportunities.
And once users are happy they have a winning trade, they can automatically execute it from the WienerAI interface.
The bot is instant, MEV-resistant, fee-free, and noon-friendly. It’s a revolution in on-chain transacting, masked behind a meme coin exterior.
There are also staking rewards at play, enabling buyers to compound their investments.
The current WienerAI presale price is $0.000726, but this will rise throughout the ICO.
HarryPotterObamaSonic10Inu
HarryPotterObamaSonic10Inu (ERC20) is the meme coin with a confusing name and equally baffling underlying concept.
But this has not stopped meme coin degens from piling in since its launch in 2023. That’s evident in its market cap, which is north of $100 million.
HarryPotterObamaSonic10Inu is one of the top meme coin gainers today, with its price up 12%.
That said, it remains at a 57% discount from its peak in March.
Glancing at the project’s website, it adopts a mystical and clunky user interface.
It’s an outlandish concoction of several different concepts and has no clear message or purpose.
But within the counter-culture landscape of meme coins, this is working in its favor.
It is currently trading at $0.1108, at break even this week and down 13% this month.
The project’s 24-hour trading volume is $3.8 million, up 21% today.
Mog Coin
Mog Coin is another meme coin that has seen big gains today. However, unlike Bonk and WienerAI, this project is focused on pure memetics.
It is a cat-themed cryptocurrency on the Ethereum and Base networks.
The project aims to become a “culture-defining force in the crypto ecosystem.”
One way it is doing this is with an official clothing line of t-shirts, hoodies, and hats.
MOG is currently up by 17% today. Moreover, it has been one of the top-performing meme coins across a higher time scale, up 36% this month.
This has garnered significant attention on social media.
“MOG is recovering and looking pretty strong. Its price has recovered above its March ATH again. Its chart is the absolute best out of all the major memes,” said trader Eddie on X.
Currently, Mog holds a $533 million market cap and a $36 million 24-hour trading volume.
