Bonk Up 150% in 30 Days as Nigeria's Altcoin Momentum Drives Sui TVL Up 25% and Pepe Gains 18%

Bonk (BONK) has emerged as a focal point in Nigeria’s cryptocurrency market, surging over 150% in the last 30 days amid broader market caution. The Solana-based meme coin’s affordability and speculative appeal have driven its popularity, particularly among retail investors seeking accessible entry points. Luno Nigeria CEO Ayotunde Alabi attributes BONK’s rise to its low price point and the broader altcoin momentum, which has positioned it as a favored speculative asset in a market where high-value cryptocurrencies are seen as overbought [1].

BONK’s current price of $0.00003 has shown resilience, with a 7% gain in the past 24 hours. Technical analysis suggests potential for further growth, with key resistance levels at $0.000038 and a possible extension to $0.000040 if momentum continues [2]. However, the token’s volatility remains a concern, as weakening demand could push its price down to $0.000034 [3].

Parallel to BONK’s surge, Sui (SUI) has gained traction in Nigeria due to institutional backing and ecosystem expansion. The layer-1 blockchain’s total value locked (TVL) has increased by 25% since early July, reaching $2.148 billion, according to DefiLlama [4]. Institutional investors such as Grayscale and VanEck have introduced new products supporting SUI, enhancing its credibility and attracting long-term investors. SUI’s price trajectory, currently at $3.99, appears tied to network activity and capital inflows, with analysts forecasting potential resistance levels at $4.09 and $4.29 [5].

Pepe (PEPE) has also benefited from the broader memecoin revival, gaining 18% over the past 30 days. Its performance aligns with renewed investor confidence in niche tokens, fueled by the strong showing of established memecoins like Dogecoin (DOGE). Trading at $0.000012, PEPE has seen a 5% rise in the last 24 hours, with technical indicators suggesting a possible rally to $0.000014 if buying pressure persists [6].

The interplay of affordability, institutional validation, and memecoin cycles underscores the diversity of factors shaping Nigeria’s crypto landscape. BONK’s speculative appeal, SUI’s ecosystem growth, and PEPE’s social media-driven momentum reflect distinct yet interconnected trends. Alabi notes that while speculative enthusiasm drives short-term gains, sustained success for these tokens will depend on broader market conditions and institutional confidence [7].

Nigeria’s crypto market has demonstrated resilience despite a wider market pullback, with retail and institutional investors alike capitalizing on these altcoin opportunities. However, the volatility inherent to these assets necessitates careful risk management, as price movements remain heavily influenced by sentiment and liquidity shifts.

Source:

[1] [Bonk (BONK) Gains Attention in Nigeria Amid Market Caution and Altcoin Trends](https://en.coinotag.com/bonk-bonk-gains-attention-in-nigeria-amid-market-caution-and-altcoin-trends/)

[2] [BONK Price Analysis](https://en.coinotag.com/bonk-bonk-gains-attention-in-nigeria-amid-market-caution-and-altcoin-trends/)

[3] [BONK Price Analysis](https://en.coinotag.com/bonk-bonk-gains-attention-in-nigeria-amid-market-caution-and-altcoin-trends/)

[4] [SUI TVL](https://en.coinotag.com/bonk-bonk-gains-attention-in-nigeria-amid-market-caution-and-altcoin-trends/)

[5] [SUI Price Analysis](https://en.coinotag.com/bonk-bonk-gains-attention-in-nigeria-amid-market-caution-and-altcoin-trends/)

[6] [PEPE Price Analysis](https://en.coinotag.com/bonk-bonk-gains-attention-in-nigeria-amid-market-caution-and-altcoin-trends/)

[7] [Bonk (BONK) Gains Attention in Nigeria Amid Market Caution and Altcoin Trends](https://en.coinotag.com/bonk-bonk-gains-attention-in-nigeria-amid-market-caution-and-altcoin-trends/)