BONK Surges 150% in Nigeria Amid Altcoin Momentum and Low-Cost Appeal SUI TVL Rises 25% on Institutional Backing PEPE Gains 18% as Memecoin Trend Revives

Bonk (BONK) has surged in Nigeria’s cryptocurrency market amid a broader altcoin trend, drawing attention as a low-cost speculative asset. The Solana-based meme coin has risen by over 150% in 30 days, driven by its affordability and accessibility for retail investors. Ayotunde Alabi, CEO of Luno Nigeria, attributes BONK’s popularity to its low price point and the broader altcoin momentum, noting it offers an entry point for traders seeking early-stage opportunities [1]. Current trading at $0.00003, BONK has gained 7% in 24 hours, with technical analysis suggesting potential resistance levels at $0.000038 and $0.000040 if buying pressure sustains. Conversely, weakening demand could push the price down to $0.000034, reflecting the token’s volatility.

Sui (SUI), a layer-1 blockchain token, has also gained traction in Nigeria due to its expanding ecosystem and institutional backing. Total value locked (TVL) for SUI has increased by 25% since early July, reaching $2.148 billion on platforms like DefiLlama [1]. Institutional investors such as Grayscale and VanEck have launched new investment vehicles supporting SUI, enhancing its credibility and attracting long-term-focused investors. At $3.99, SUI’s price appears tied to network activity, with analysts forecasting potential resistance at $4.09 and $4.29 if demand holds, while a correction to $3.68 is possible if buying pressure wanes [1].

Pepe (PEPE) has benefited from the memecoin revival, gaining 18% in 30 days and reflecting renewed interest in the segment. Its performance aligns with broader memecoin trends, including Dogecoin’s (DOGE) 30% rise over the same period. Trading at $0.000012, PEPE has risen 5% in 24 hours, with technical forecasts indicating potential rallies to $0.000014 if momentum continues or a drop to $0.0000107 amid shifting dynamics [1].

Nigeria’s crypto market remains resilient despite a broader market pullback, with BONK, SUI, and PEPE representing distinct drivers of investor behavior. BONK’s speculative appeal stems from its low entry barrier, while SUI’s institutional validation and ecosystem growth signal long-term potential. PEPE’s resurgence underscores the cyclical nature of memecoin popularity, tied to social media trends and market sentiment. Alabi highlights that while these tokens offer opportunities, sustained growth depends on continued investor interest and macroeconomic conditions.

The altcoin momentum in Nigeria reflects a broader appetite for diverse crypto assets, particularly in a market where traditional cryptocurrencies are perceived as overbought. Retail traders are leveraging smaller capital outlays for high-risk, high-reward bets, emphasizing the importance of risk management amid volatile price action. Institutional backing for SUI and the memecoin revival for PEPE further illustrate the evolving landscape of investor preferences, balancing speculative enthusiasm with foundational value.

As these tokens continue to evolve, Nigerian investors must monitor market dynamics closely. BONK’s potential to reach $0.000040, SUI’s TVL growth, and PEPE’s alignment with memecoin trends collectively highlight the interplay of affordability, infrastructure development, and social media influence in shaping crypto markets.

Source: [1] [Bonk (BONK) Gains Attention in Nigeria Amid Market Caution and Altcoin Trends July 26, 2025] [https://en.coinotag.com/bonk-bonk-gains-attention-in-nigeria-amid-market-caution-and-altcoin-trends/]