Dogecoin, Bonk struggle to keep up as holders switch to new memecoin

Pepe, Floki surge while Dogecoin and Bonk lag. Investors turn to KangaMoon for market leadership.

Some big names in the meme coin market, like Pepe and Floki, have been going off over the last few weeks. However, memecoin titans Dogecoin (DOGE) and Bonk (BONK) have failed to keep up with the rising momentum. As a result, many investors are switching to the new memecoin, KangaMoon (KANG), which has shown the potential to lead the market for the rest of the year.

Dogecoin outpaced by Pepe and Floki, risk further rejection

While Dogecoin  remains the most recognizable name in the memecoin space,  it has been outperformed by the likes of Pepe and Floki in the last few weeks. Over the last 60 days, the Dogecoin price has plunged by 25%, while those memecoin titans have recorded double-digit gains.

It could become even worse for DOGE investors as the pseudonymous market analyst Credible has posted a warning. Based on Credible, the next big move in Bitcoin could very well cause the value of Dogecoin to fall. Another analyst has made conclusions similar to those of the first one, and according to Ali Martinez, the major level of interest in the DOGE is at $0.1700, which is a key resistance level.

Bonk momentum slows, loses 5th place

After its hot start to the year, the price of Bonk (BONK) has been sluggish over the last three months compared to other top memecoins. The declining momentum of Bonk can be seen in the declining trading volume for the meme coin. 

With the uprising of top memecoins, Bonk has now lost its position as the fifth biggest memecoin. Bonk now has a market cap of $2.4 billion while priced at $0.000035. As BONK fails to keep up with the surging memecoin market, many investors have moved to the more promising new coin, KangaMoon.

KangaMoon, the new memecoin turning heads

Unlike BONK and DOGE, KangaMoon has been one of the top memecoins to invest in over the last few months. While the price of KANG has surged by 400% this year to hit its current price of $0.025, KangaMoon has been attracting a lot of attention in the memecoin space for its unique new ecosystem.

KangaMoon is doing things differently from conventional memecoins, fusing P2E, NFTs, metaverse, and GameFi into its ecosystem. The aim is to create a vibrant community like other top memecoins but give them an opportunity to earn passive income. Users can enter into daily, weekly, and monthly competitions to win KANG and other exciting prizes.

To boost community engagement, KangaMoon has created a new protocol known as Social-Fi. With this, KangaMoon rewards its users based on their engagement and activity level on the platform. With the opportunities KangaMoon has onboarded over 32k users already. The growing recognition has also led to KANG being listed on top aggregator platforms, CoinGecko and CoinMarketCap.

The leading centralized exchange, BitMart has also announced that it will list the KANG token very soon. The presale has raised over $7.5 million, which shows how much belief the memecoin community has in the KangaMoon initiative. As a result, crypto experts have forecasted that the price of KANG could surge from $0.025 to hit a 2024 high of $1, making it one of the top memecoins to invest in now.

In Conclusion

After dominating the memecoin market for different periods, Dogecoin and Bonk have seen their momentum drop over the last few months. This drop coincides with the rising interest in KangaMoon. KANG has emerged as one of the top memecoins to keep an eye on because of the unique ecosystem it brings that other established memecoin titans lack.

To learn more, visit the official Kangamoon website or follow the project via Telegram.