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Brett and Bonk are set for a showdown in October, while Pepe Unchained aims to disrupt the memecoin market with its unique L2 blockchain.
Brett and Bonk have become two of the most iconic memecoins in 2024, but which will emerge as the winner in October?
That’s the question that we’ll be answering in this article.
High liquidity, low competition – Brett is primed for explosive growth
October, sometimes called ‘Uptober,’ is historically a bullish month for cryptocurrencies.
And in bullish periods, the memecoin sector often makes the biggest gains. Take today, for example. The total crypto market cap is up 2.3%, but the memecoin market cap is up 4.2%.
So given what we know about October, this is an exciting time for memecoin fans. But which will perform best – Brett or Bonk?
Each has a unique market position in its respective domain. While Brett is the largest memecoin on the Ethereum layer 2 blockchain Base, Bonk is the second-largest memecoin on Solana.
There’s a strong bull case for both.
In Brett’s favor, it essentially has a monopoly over Base. With a $863 million market cap, it’s almost 10x bigger than second-in-command Degen, which is worth $89 million.
Moreover, Base does not have a native token. This means that many traders who want exposure to Base will invest in Brett.
For the uninitiated, Base was created by centralized exchange Coinbase, which provides Brett with a lot of credibility.
Furthermore, since Base is an Ethereum layer 2, moving funds between Base, Ethereum, and other layer 2s is effortless. Therefore, it has potential for huge capital inflows, much of which could be directed to Brett.
And on price action, analyst Nate notes that Brett is about to break out from a descending channel, which could enable a significant upward rally.
Moving to Bonk, its position on Solana cannot be understated. Solana is a monster in the memecoin industry, with its market cap jumping 11% today.
In crypto’s last bullish period, Q1 of 2024, Solana-based memecoins made huge gains.
However, this comes with a caveat. The Solana memecoin vertical is highly competitive. CoinGecko tracks 520 memecoins on Solana, compared to 109 on Base.
There are also tens of thousands more on Solana that CoinGecko does not track. This heightened competition might make is harder for Bonk to grow.
Another factor to consider is that Solana is a monolithic blockchain, which largely means liquidity is fragmented from the rest of the industry.
As mentioned, Base is connected to the Ethereum ecosystem, opening the chain to hundreds of billions of dollars in liquidity.
Still, analysts believe that Bonk is bullish based on its price chart. Trader Alan suggests it has found its bottom and will soon begin an upward ascent – first reclaiming its macro mid-range – which could enable further growth.
Ultimately, Brett’s monopolistic market position, coupled with the huge liquidity of the Ethereum ecosystem, provides an upper hand and could enable it to catch Bonk in October.
Based on Bonk’s current market cap, Brett must rally by 54% to catch it.
However, another new meme coin holds a similar position to Brett, except with a few key differentiators that could produce more gains.
The project is called Pepe Unchained, and it’s the first Pepe-themed memecoin with its own blockchain.
Pepe Unchained raises $15M for L2 project
There is a huge gap in the market. Ethereum layer 2s are taking off, but none accommodate the ‘degen’ community.
Most memecoin activity takes place on the Ethereum chain or alternative layer 1s like Solana and Tron.
However, Pepe Unchained fixed this with the first memecoin-focused Ethereum layer 2 blockchain.
Imagine trading memecoins or interacting with memecoin-related applications while enjoying low fees and high speeds.
What’s more, users could do it from the comfort of their Ethereum wallet. That’s what Pepe Unchained is enabling.
The memecoin market is worth over $45 billion, and use case is an industry first. As such, it’s garnering lots of attention.
The project has raised $15 million, and analysts think much more gains will come. For example, Meme Coin Max says that it could 100x in price.
“This one is different. Pepe has its own blockchain,” he said.
Pepe Unchained’s presale is ongoing. However, once the token launches, the ‘Pepe Chain’ will also launch, alongside features like staking, an Etheruem bridge, a block explorer, and a DEX.
The current presale price is $0.00984, but this is expected to rise throughout the campaign with the next increase in 12 hours.
For more information, visit the Pepe Unchained presale website.
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