🕒 Posted on: 7/26/2025 8:45:27 AM UTC

Bonk, Sui, and Pepe Dominate Nigeria's Crypto Buzz as Meme Coin Frenzy Grows

Introduction: Nigeria’s Resilient Crypto Market Defies Broader Pullback

The final week of July saw a subdued performance in the broader cryptocurrency market, with Bitcoin (BTC) trading in a tight consolidation range. Many altcoins followed suit, reflecting cautious investor sentiment. However, Nigeria—one of Africa’s most active crypto markets—remained an exception.

On-chain and social data reveal that Bonk (BONK), Sui (SUI), and Pepe (PEPE) emerged as the top three trending altcoins in Nigeria during this period. Despite market-wide hesitancy, retail traders in the country continued to show strong interest in these assets, driven by affordability, speculative potential, and ecosystem growth.

This article explores why these three tokens are dominating Nigeria’s crypto buzz and what their recent performance signals for the market.

Bonk (BONK): The Solana Meme Coin Capturing Nigerian Traders’ Attention

Why Bonk Is Trending

Bonk, a Solana-based meme coin, has seen a remarkable surge in demand among Nigerian investors. According to Ayotunde Alabi, CEO of Luno Nigeria, BONK’s popularity stems from its low entry price and perceived upside potential.

In a market where many established altcoins appear overbought, BONK offers speculative traders an opportunity to enter early and capitalize on potential momentum. Over the past 30 days, BONK’s price surged by more than 150%, making it one of the best-performing meme coins in Nigeria.

Price Analysis and Key Levels

At press time, BONK trades at $0.00003, up 7% in the last 24 hours. If buying pressure continues, analysts suggest it could rally toward $0.000038, with a potential retest of its year-to-date high at $0.000040.

However, if demand weakens, BONK may dip to $0.000034, testing lower support levels. Given its volatile nature, traders should monitor market sentiment closely before making decisions.

Sui (SUI): Institutional Backing Fuels Nigerian Interest

Growing Ecosystem and Institutional Support

Unlike meme coins like BONK and PEPE, Sui (SUI) is a layer-1 blockchain project gaining traction due to its expanding ecosystem and institutional validation. Alabi notes that Nigerian investors are increasingly drawn to SUI because of endorsements from major firms like Grayscale and VanEck, which have introduced investment vehicles tied to the token.

Additionally, Sui’s Total Value Locked (TVL) has grown by 25% since early July, reaching $2.148 billion, according to DefiLlama. This indicates rising confidence in the network’s infrastructure and adoption by developers and users alike.

Price Outlook for SUI

Currently trading at $3.99, SUI could climb toward $4.09 if network activity remains high. A decisive break above this level might push it toward $4.29. Conversely, profit-taking could lead to a pullback toward $3.68.

Pepe (PEPE): Riding the Meme Coin Revival Wave

Market Sentiment Boosts PEPE’s Appeal

Pepe (PEPE), another meme coin trending in Nigeria, has benefited from the broader resurgence of interest in meme-based cryptocurrencies. Alabi highlights that established tokens like Dogecoin (DOGE)—which gained roughly 30% in the same period—have helped renew confidence in smaller meme assets like PEPE.

Over the past 30 days, PEPE recorded gains of around 18%, reinforcing its position as a speculative favorite among Nigerian traders.

Key Price Levels to Watch

PEPE is currently priced at $0.000012, up 5% in the last 24 hours. If bullish momentum continues, it could target $0.000014. However, if selling pressure intensifies, it may retreat to $0.0000107.

Comparing BONK, SUI, and PEPE: What Sets Them Apart?

While all three tokens are trending in Nigeria, they cater to different investor preferences:

  • BONK: A high-risk, high-reward meme coin appealing to speculative traders due to its low price and volatility.
  • SUI: A more structured blockchain project with institutional backing and growing DeFi adoption—ideal for investors seeking long-term growth potential.
  • PEPE: A meme coin benefiting from broader market trends but still subject to extreme volatility typical of the category.

Each token represents a distinct segment of the crypto market—meme coins vs. infrastructure projects—highlighting Nigeria’s diverse retail trading interests.

Conclusion: What’s Next for Nigeria’s Crypto Market?

Despite broader market stagnation, Nigerian traders continue to show strong interest in altcoins like BONK, SUI, and PEPE—each for different reasons:

  • Meme coins (BONK & PEPE) thrive on speculative demand and social media hype.
  • Layer-1 projects (SUI) gain traction due to institutional support and ecosystem growth.

For investors watching these trends:

  • Monitor meme coins for short-term volatility but exercise caution due to their unpredictable nature.
  • Track SUI’s TVL and institutional developments for signs of sustained growth potential.
  • Stay updated on broader market sentiment shifts that could impact these assets differently.

As Nigeria remains a key player in Africa’s crypto landscape, understanding local trends provides valuable insights into emerging global crypto movements. Keep an eye on these tokens as they continue shaping retail trading behavior in one of the world’s most dynamic markets.

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