Demex Daily #140: BONK and WIF Surge on Solana Amid Market Dip

What’s Interesting Today:

Solana meme coins BONK and WIF have recorded significant price increases in the last 24 hours, despite a broader market downturn that has seen a 2.30% drop in the global crypto market cap. BONK has seen a 13.5% rise following a community-approved proposal to burn over 278 billion tokens, contributing to a scarcity that buoyed its price. Technically, BONK shows signs of bullish momentum, with potential resistance and support levels identified. Meanwhile, WIF also posted an 8.5% increase without any major news driving the price, suggesting a more speculative market movement. Both coins exhibit technical indicators that suggest ongoing bullish trends despite recent volatility.

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Galxe has launched a new GAL Staking feature with a $5M rewards pool through the Galxe Earn platform, aiming to enhance community engagement and governance. This feature allows users to stake GAL tokens and gain access to unique airdrop campaigns and exclusive rewards, such as whitelist spots and gated airdrops, offered in collaboration with partners like Arbitrum, Polyhedra, and Merlin. Additionally, Galxe has introduced a governance model shift where voting rights are exclusive to GAL stakers, promoting deeper community involvement in decision-making. The platform has been designed to provide a user-friendly and transparent staking experience, aligning with Galxe's commitment to fostering a decentralized and user-driven ecosystem.