Bonk (BONK), Sui (SUI), and Pepe (PEPE) are fueling altcoin activity in Nigeria’s cryptocurrency market, propelled by distinct catalysts including affordability, institutional support, and memecoin resurgence.
Bonk, a Solana-based meme coin, surged over 150% among Nigerian investors attracted to its low entry price and speculative appeal. Currently trading at $0.00003, Bonk’s accessibility has positioned it as a popular choice for local traders amid market volatility.
Sui has secured significant institutional backing from asset managers Grayscale and VanEck, driving notable ecosystem growth. Network activity surged with total value locked (TVL) climbing 25% to $2.148 billion, reflecting robust adoption of its blockchain infrastructure.
Pepe capitalized on renewed memecoin enthusiasm, gaining 18% over the past month. Its performance aligns with broader momentum in the memecoin sector, influenced partly by established assets like Dogecoin (DOGE).
Market analysts project potential upward trajectories: BONK could reach $0.000040 with sustained momentum, SUI may test $4.09 resistance, and PEPE has potential upside to $0.000014 under favorable conditions.
These altcoins demonstrate Nigeria’s resilient crypto market, maintaining investor interest despite recent broader market pullbacks.