BONK and WIF are under immense sell-off pressure as they fail to hold onto recent gains with LNEX skyrocketing 308%, pulling the light of the limelight into the DeFi space.
Intense sell pressure on the crypto market had gains made by the likes of BONK, meme coins that had been trading upwards, becoming unbearable. On the other hand, DeFi’s new entrant LNEX has caused much excitement due to its price, having rallied as much as 308%. Overviewing the struggling cases of BONK and WIF as well as that of LNEX’s success will set the possible future trajectory into 2025.
LNEX Price Brings 300% ROI, and the Rally Isn’t Over Yet
Lunex Network or LNEX is one of the most discussed tokens in the DeFi space. It is a solution to some of the burning issues in the space of decentralized finance, built on cross-chain capabilities, allowing users to buy, sell, and swap all kinds of crypto assets easily across more than 40 blockchains. Since many exchanges have cumbersome KYC processes, access is much easier to such exchanges.
Several more features give Lunex its lead among all other platforms; some of those include more than 50,000 crypto pairs, low-priced transactions, a strong asset management system, and multi-currency staking. Lastly, the standout feature of this token is of profit-sharing model, offering the LNEX holders an incentive; this is, being a deflationary token that sees all its transaction fees settled in LNEX increases demand in its price value.
The LNEX presale has been very successful so far as some early investors can already witness its success due to the high returns, seeing an impressive 308% return, taking its price up from $0.0012 to $0.0049. It managed to reach above the $5.6 million milestone already and still increasing to likely target its possible sum of $6 million. In addition, this amount reflects its brighter prospects going into the bull cycle soon.
Bonk Pare Off Gains: Can the Bulls Spark a Comeback?
Bonk (BONK) is a meme coin that operates on the Solana network, and it’s fighting an uphill battle as its price is under pressure. Since the last rally, BONK has tumbled down to $0.00002962, raising red flags that its bearish run might not end anytime soon. At the moment, BONK’s price remains below the 100-day SMA, meaning bears are winning.
BONK’s Relative Strength Index (RSI) has also dipped below the neutral level, meaning the bullish pressure is waning. If BONK cannot stay above the support level of $0.00002962, then the downtrend might head further down to the level of $0.00002320.
But in case the price stabilizes and bounces back at this important support level, it may see a rally to the resistance point at $0.00004002. On breaking above the said level, there could be a change in the trend, thus taking the coin upwards to around $0.00006247.
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Dogwifhat (WIF) falls by over 25% in 7 days
Another meme currency is now falling even harder than Dogwifhat (WIF) with WIF now down over 30% over the last month and losing over 25% of its value in the last seven days alone. Even positive news such as the Binance US listing for December 11 could not get things moving for the WIF.
Technical indicators reveal that WIF is bearish since its RSI has penetrated the bearish region and remains below 50%. Therefore, it becomes oversold. However, there could be a relief rally. Still, this may not be sustainable if the buying interest in WIF continues to be uninterrupted. Trading below the 100-day SMA will enhance the bearishness even further. There may be a breakout above the resistance at $2.3. There could be a rally towards $2.6.
Can Lunex Network Dethrone BONK and Dogwifhat?
With the ongoing sell-offs and decreasing interest from investors, Bonk and Dogwifhat have something to choose between; Lunex Network is at it again to take over the DeFi space. As the user base continues to grow, the innovative DeFi solutions, increase momentum, and Lunex is now on its way to dethroning the reign of BONK and Dogwifhat. The Lunex presale has already grown so much, and if it continues to attract investors, it may soon surpass meme coins like BONK and WIF in popularity and market capitalization.
Conclusion: As people approach the new year, the cryptocurrency market remains volatile, with BONK and WIF struggling to maintain their gains under heavy sell-off pressure. On the other hand, Lunex Network has grown remarkably with a 308% value increase and presents a solid roadmap for more of such performance. As investors are seeking stable and profitable opportunities, Lunex will outshine both BONK and WIF in the coming months. For now, Lunex presents exciting new choices in the DeFi space with much potential above its meme coin counterparts.
Also Read: Tron (TRX) Becomes The Most Profitable Cryptocurrency In The Top 50: Here’s Why
