BONK and DOGE Holders Under Pressure Due to Price Fluctuations LNEX Up 58%

The weakening momentum in the broader cryptocurrency market has an impact on the meme coin market as well. Notably, Bonk BONK $0.000016 24h volatility: 11.5% Market cap: $1.24 B Vol. 24h: $228.87 M is facing an extended market consolidation that has led to over 16% price decline in the past month. While this is not exactly the same for Dogecoin DOGE $0.18 24h volatility: 5.5% Market cap: $27.34 B Vol. 24h: $1.68 B , the legacy meme coin is also facing a mild price fluctuation.

Meanwhile, stealing the spotlight is a fast-rising presale star Lunex Network (LNEX), which recently delivered about 58% ROI to early backers. Aside from the speedy progress made in its presale, Lunex Network is drawing enormous attention because of its unique DeFi platform that aims to streamline cross-chain transaction processes. Let’s find out how.

Lunex Network’s Streamlined Process to Speed Up Crypto Transaction

For Lunex Network (LNEX), It is not enough to increase transaction throughput. Instead, it aims to streamline the process involved. While this speeds up transaction time, it also ensures that the process involved is less cumbersome as in the case of most existing DEX platforms. As such, Lunex Network allows users to swap and transfer crypto assets in one attempt, completely anonymously and at a very cheap cost.

However, there is more to this DeFi protocol. Another enticing feature of Lunex Network is its revenue share model. While this is rarely available in most DEX platforms, it allows Lunex Network to allocate a portion of its exchange’s revenue to repurchasing the native LNEX token from the open market, part of which are subsequently redistributed amongst token holders.

Furthermore, the DeFi platform also caters for institutional users, offering over 65+ RPC nodes for all Web3 development needs. This is also accompanied by a B2B merchant payment gateway, which when integrated, allows businesses to to accept crypto payment, and convert to fiat and vice versa. While the native $LNEX token powers its entire operations, it is currently selling out at an ample price of $0.0019 in the fifth presale stage, while providing 58% ROI for early buyers.

BONK Price Risks Further Decline Below Resistance Level

Solana-based meme coin, Bonk (BONK) has been navigating a noticeable price retracement in the past month, losing over 16% of its value during the same period. While it made multiple attempts to remain above its monthly entry point of $0.000024, BONK price has been facing a progressive decline in the past two weeks.

Currently trading within a weekly price range of $0.000022 and $0.000020, BONK price is at risk of falling below its resistance level of around $0.000020. Meanwhile, Bonk’s technical analysis including its moving averages points to a strong sell signal, which suggests that the current trend may persist for a while.

However, the Bonk community has remained highly optimistic, with 80% of over 12K community members on CoinMarketCap voting in favor of a bullish price trajectory. This optimistic stance can be attributed to many factors including Bonk’s off-chain activities and its generally bullish year-to-date price outlook which reflects over 3020% increase.

Dogecoin Price Exhibits Bullish Momentum Despite Minor Setback

Unlike Bonk, Dogecoin (DOGE) has been able to maintain a relatively bullish outlook in the past month and week respectively. Although the slowing bullish momentum in the broader crypto market had its effect on DOGE price, the legacy meme coin maintains a generally bullish outlook.

Currently trading within a weekly price range of $0.14 and $0.17, DOGE price reflects about an 18% increase in the past week, which further contributed to its nearly 50% monthly price gain. Meanwhile, the recent price surge contributed significantly to DOGE token’s YTD price recovery.

Having made a giant stride out of its consolidation zone below $0.10, DOGE token has registered a nearly 150% increase in the past year. Interestingly, this trend is projected to continue throughout this Q4 considering DOGE’s technical analysis, including moving average points at a strong buy.

Can Lunex Network Outperform Dogecoin and Bonk This Q4?

Unlike Bonk, Dogecoin price trajectory suggests a sustained bullish momentum, which translates to more profits for token holders. However, Lunex Network appears to hold more potential given its presale status.

With a steady increase in price as the native LNEX token progresses through additional presale stages, early backers are bound to make enormous profits this Q4. Besides, interested participants can also join the ongoing giveaway and stand a chance to win part of the $500K worth of prizes to be shared among early backers.

For more on Lunex Network and its cashback offer, visit the website or social media accounts.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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