Reasons we should understand these meme coins performing well across Solana & Avax hitting highs🔥
COQ' is a meme token that was launched on the Avalanche blockchain in November 2021. It claims to be the first Dynamic Reflection Token (DRT) that rewards holders with BNB every hour.
- > BONK is a Shiba Inu-themed token that was launched on the Solana blockchain in December 2022. It has gained a lot of popularity and price appreciation in the past few weeks, partly due to its airdrop to Solana NFT holders and artists, and partly due to the hype around Solana as an Ethereum challenger.
-> Both COQ' and BONK have seen impressive price increases in the past month, reaching their all-time highs on December 12, 2023. According to CoinMarketCap, COQ' reached $0.000000685853 with a market cap of $29,162,204, while BONK reached $0.00001675 with a market cap of not available.
Some of the factors that may explain why COQ' and BONK are pumping are:
The increasing demand for NFTs, DeFi, and other crypto innovations, requires high-performance and low-cost blockchain infrastructure.
The network effects and positive feedback loops that result from the growth of users, developers, projects, and capital in each platform.
The innovation and competition among different blockchain platforms, drive improvements in technology, security, and usability.
The speculation and FOMO (fear of missing out) fuel the crypto market cycles, especially for meme coins and tokens.
Also, you are advised to take caution when trading these meme coins to avoid loss due to their high volatility.
