Bonk, Pepe, and KangaMoon Outshining Ethereum on ETF Approval Day

Pepe, Bonk, and Kangamoon are outshining ETH despite the ETF approval. Kangamoon raises $7 million in presale.

After months of intense scrutiny for its potential approval, the Ethereum ETF has now been approved by the US Securities and Exchange Commission (SEC). However, the effect of the approval has not been felt on the Ethereum price with the leading memecoins such as Bonk, Pepe, and KangaMoon outshining the token in the past day. 

KangaMoon token surges amidst CMC listing

Even though Ethereum ETF has come to fruition, the Ether token is still lagging behind Bonk, Pepe, and KangaMoon since the approval in terms of bullish momentum. Particularly, KangaMoon has appreciated by a massive 400%, projecting it as one of the promising memecoins to invest in. With the token listed on CoinMarketCap, more investors are now coming into the presale.

Buoyed by its huge community of over 32,000 users and active holders of over 10,000, KangaMoon has raised about $7 million in presale. Many analysts project it to be one of the promising memecoins to buy. As one of the trending memecoin of 2024, KangaMoon’s native token, KANG is on the path of toppling Solana based memecoins like Bonk and Dogwifhat. 

Notably, KangaMoon’s unique vision blends two critical elements of GameFi and SocialFi which allows users to engage in activities in the ecosystem and win prizes. With this, users can earn from play-to-earn gaming and also by engaging in KangaMoon social media campaigns such as the ongoing Kangameme context.

As part of measures to multiply investors’ earnings, there is an option for staking assets for a certain period. In return, users get as much as double the amount they stake. As the presale is coming to an end, KangaMoon has confirmed its listing on BitMart with other CEX exchanges to follow at a later date. As an Ethereum-compatible token, the Ether ETF approval can also bring the best in KangaMoon.

Ethereum price declines despite ETF approval

The Ethereum ETF was approved on May 23, 2024, but its success has not lifted the ETH price. While the token climbed by 16% in the past month and moved too close to the $4k threshold, it has not shot up since the news of the approval, with ETH declining by 3% in the past day.

However, Ethereum market cap and its trading volume serve as consolation with both hitting new highs. As a result, analysts believe the present dip is temporary and that Ethereum will soon bounce back. With an Ethereum price prediction of more than $4k, investors may consider holding their ETH assets

Bonk Price increases amidst ETF signing

In contrast to Ethereum’s lack of traction, Bonk has moved steadily in the past week, going up by 40% based on market stats. This is a continuation of its one-year price increase which currently stands at more than 9000%. However, a big concern is the Bonk market cap which has continued to decline.

While Bonk may be down in market cap, its trading outlook looks great. With several of the key market indices showing green signs, the token may be set to continue along its monthly projection. With the Bonk token remaining within the touch of its ATH record, the token might set a new all-time high record this year. 

Pepe token leads, outshine ethereum surge

Pepe coin also leads across different charts, increasing by almost 1000% in one year. It has continued on the path with a monthly surge of 90%. The token also has an improved lead in the past day, gaining a new all-time high record of $0.00001535.

Zooming in, Pepe is extensively bullish across many market indices. With Pepe’s market cap set to hit $6 billion anytime soon, the token is massively pumping and is among the best memecoins to buy ahead of the altcoin season. 

Conclusion

With Pepe, Bonk, and KangaMoon surges across the past day outshining that of Ethereum even despite the approval of its ETF, the tokens are set for huge progress in the forthcoming bull run. However, they may not be able to match the Ethereum rally in the coming weeks if the ETF turns out to add more benefit to Ether. 

To learn more, visit the Kangamoon website or join their telegram community.