Bitcoin News Today: Pepe Bonk Shiba Inu Rebound Amid High Circulation Support

Late trading sessions on the crypto market witnessed a notable rebound in three of the most-watched meme coins—Pepe (PEPE), Bonk (BONK), and Shiba Inu (SHIB)—despite initial sharp declines overnight. While all three tokens faced intraday pressure, robust holder support and high circulation levels helped stabilize their positions and prevent further losses.

Pepe (PEPE) saw its market cap dip before settling at $4.2 billion, following a 1.91 percent drop. The 24-hour trading volume declined by over 20 percent to $941.6 million, signaling reduced short-term liquidity. However, the token’s circulating supply remains near maxed out at 420.68 trillion tokens, held by over 480,000 addresses. This distribution model has historically provided a buffer against sharp sell-offs, with holders absorbing volatility and stabilizing the asset [1].

Bonk (BONK), a prominent meme coin on the Solana network, traded at $0.00002075, down 1.23 percent for the day, with a market cap of $1.67 billion. Despite a 25 percent drop in 24-hour trading volume to $284 million, the token’s high circulation rate—80.83 trillion out of 88.87 trillion—provided a structural advantage in maintaining its floor price. The token’s overnight fall to around $1.57 billion was quickly countered by steady buying pressure during the day, indicating strong support from the Solana-based community [2].

Shiba Inu (SHIB), which had dipped below $7.0 billion in market cap during the night, clawed back to $7.24 billion by the end of the session. Trading at $0.00001229, SHIB recorded a modest 0.44 percent drop for the day, with a 24-hour volume of $315.2 million, down 13.91 percent from the previous period. The token’s full circulation—589.55 trillion out of 589.55 trillion—has historically supported its liquidity and provided a baseline for price stability, allowing it to absorb short-term shocks while maintaining its market position [3].

The market’s mixed signals reflect broader uncertainties in the altcoin space, with the altcoin index still languishing at 26, indicating a prolonged consolidation phase. While SHIB showed signs of a bullish golden cross in its technical indicators, BONK remains under bearish pressure with multiple sell signals intact [4]. Analysts note that despite the strong rebounds seen in these tokens, long-term price action will depend on broader market conditions, particularly as over $14.6 billion in Bitcoin and Ether options are set to expire on Deribit, potentially influencing volatility and investor sentiment [5].

The resilience displayed by PEPE, BONK, and SHIB underscores the importance of strong community backing and high token circulation in mitigating short-term market pressures. As the market braces for potential shifts in the wake of major derivatives events, these meme coins continue to serve as barometers of investor confidence within the broader crypto ecosystem.

Source:

[1] Pepe Price Prediction: PEPE Flipping Shiba Inu On Hold ...

https://www.cryptopolitan.com/pepe-flipping-shiba-inu-on-hold-while-the-new-altcoin-dominates-investor-interest/

[2] Cryptos and memes experience heavy losses today

https://www.facebook.com/groups/btcindia7/posts/43108181****6107/

[3] Altcoin season index chart

https://www.bitget.com/price/altcoin-season-index

[4] Shiba Inu Price Prediction: Bullish Golden Cross Appears

https://cryptonews.com/news/shiba-inu-price-prediction-bullish-golden-cross-appears-shib-could-10x-your-money-from-here/

[5] $14.6 billion Bitcoin and Ether options expiry exhibits bias ...

https://www.cryptopolitan.com/14-6-billion-bitcoin-ether-options-expiry/