3 Trending Altcoins in Nigeria in the Last Week of July

The last week of July witnessed a significant price decline in the cryptocurrency market, with Bitcoin (BTC) trading within a tight consolidated range. This weak performance dampened the broader market sentiment, pulling many altcoins lower.

Despite the caution, the interest of retail investors in Nigeria – one of Africa's most vibrant cryptocurrency markets – remained strong. On-chain and social data revealed that Bonk (BONK), Sui (SUI), and Pepe (PEPE) emerged as the top three trending altcoins in the country during the last week of July.

BONK

According to Ayotunde Alabi, CEO of Luno Nigeria, the Solana-based meme coin BONK is one of the most popular assets in Nigeria this week. The recent revival in meme asset demand has pushed BONK's value up over 150% in the past 30 days.

Alabi told BeInCrypto that BONK's growing popularity could be related to the broader altcoin price surge. However, its appeal to Nigerian investors is also driven by affordability and price appreciation potential. In a market where many top coins seem overbuyed, low-priced tokens like BONK offer investors an opportunity to enter early and leverage potential momentum.

"The interest may be based on broader altcoin momentum, but investors may also be attracted by the low entry price and long-term growth potential," Alabi pointed out.

This meme coin is trading at 0.00003 USD at the time of writing, up 7% in the past 24 hours. BONK could continue rising to 0.000038 USD if buying pressure is maintained. If it breaks through that resistance level, the altcoin could reclaim its YTD high of 0.000040 USD.

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On the other hand, if demand weakens, BONK's price could drop to 0.000034 USD.

SUI

This week, layer-1 (L1) coin SUI is another altcoin trending among Nigerian traders. According to Alabi, SUI's persistence and strengthened presence in Nigeria may be related to its expanding ecosystem and increasing institutional recognition.

With major names like Grayscale and VanEck supporting the token through new Investment Vehicles, the CEO says Nigerian investors are paying more attention to its long-term potential.

He added that SUI's Total Value Locked (TVL) increase over the past month indicates growing acceptance and capital confidence in the network's infrastructure. According to defillama, this figure is currently 2.148 billion USD, up 25% since the beginning of July.

This TVL increase reflects broad market participation and shows that more users and developers are actively engaging in the Sui ecosystem.

SUI is currently trading at 3.99 USD. If network activity remains high, demand for SUI coin will increase, pushing its price to 4.09 USD. If it breaks this level, it could trigger a move up to 4.29 USD.

However, if profit-taking continues, the coin's value could drop to 3.68 USD.

PEPE

Despite a slight decline during the week, PEPE remains on the radar of Nigerian traders. According to Alabi, the coin has benefited from the meme coin revival, with an increase of around 18% in the past 30 days.

He explained that the strong performance of established tokens like Dogecoin (DOGE) – up around 30% in the same period – has helped restore market confidence in smaller meme coins like PEPE.

PEPE is trading at 0.000012 USD at the time of writing, recording a 5% increase in the past 24 hours. If buying pressure intensifies, the meme coin's price surge could reach 0.000014 USD.

Conversely, if sellers regain the advantage, they could push the downtrend to 0.0000107 USD.