Bonk price has gained over 11% in the past 24 hours and is currently trading at $0.00001164 as buyers re-enter BONK’s chart.
BONK Challenged by New Solana Meme Coin HONK
Although the former underdog managed to surpass BONK in the past 24 hours, growing by nearly 52% to trade at $0.01936, BONK’s price has grown by 10,535% year to date since its launch on December 25, 2022, so HONK still has a big gap. HONK’s price has surged by 6,75% since its launch on January 19. Currently, BONK ranks 86th among the top cryptocurrencies by market capitalization, while HONK ranks 2,294th.
Bonk price breaks above stronger bearish trendline
Bonk price has managed to break above the medium-term downtrend line in the past eight hours. This is a major bullish development as the meme coin has been suppressed by this trendline since December 15, 2023.
As a result, the price of BONK could rise to $0.0000192765 in the next few days. If the buying pressure continues, it can push the price of Bonk to $0.0000290295 in the near term. This bullish view may be confirmed if the meme coin closes 3 consecutive 4-hour candles above $0.0000128480 in the next 24 hours.
On the other hand, within the next 48 hours, this bullish view might be invalidated if the price breaks below the $0.0000088550 support level. In this alternative scenario, the Bonk price might drop towards the $0.0000031115 support level within the next few days.
Buyers may continue to push Bonk prices higher
Technical indicators on BONK’s 4-hour chart show that buyers currently have the upper hand and may try to push Bonk prices higher in the coming days. The relative strength index (RSI) line is above its simple moving average (SMA) line. This technical signal suggests that bulls have an advantage over bears.
The positive trend of BONK may also continue in the next 48 hours, which is suggested by the Moving Average Convergence/Divergence (MACD) indicator. Currently, the MACD line is crossing above the MACD signal line upwards, which shows that the bullish trend of BONK is strengthening. If these technical signals are validated, the Bonk price may soon surge to the $0.0000192765 resistance level.
While BONK is competing with HONK, Sponge V2 is also sweeping the Meme coin market as a pre-sale product.
Hey $BONK…
We're coming to find you.
#BONK
#SpongeV2
#SPONGE
#PEPE
#MemeCoin
#Crypto
#Alts
pic.twitter.com/ZjLYW0MLR3
— $SPONGE (@spongeoneth)
January 25, 2024
Seeking to repeat success 100 times
Sponge V1 created a 100x return for early investors in the bear market of 2023, even reaching a peak market cap of $100 million. Following this success, the Sponge team gave investors a second chance to reap huge gains by introducing Sponge V2.
#SpongeV2
: Because sometimes you just need to absorb the moisture quietly
What are you waiting for?
#Crypto
$SPONGE
#Presale
# Bullish
pic.twitter.com/LFpfaOOKFh
— $SPONGE (@spongeoneth)
January 24, 2024
To ensure this new meme coin can replicate the performance of its predecessor, the team has lined up multiple exchange listings and even added a racing game where players can earn tokens by playing.
Not only will this expose the coin to a wider trading audience, it will also introduce a level of utility not common to most meme coin projects.
Provide investors with multiple opportunities to make money
Sponge V2 is not only a speculative trading opportunity with the potential to earn 100x returns, it also provides other earning opportunities for token holders. One of these earning opportunities is the project’s lucrative staking program, which currently offers investors an annualized rate of return of 269%.
In addition to this, the racing game that will be introduced to the Sponge community will also allow players to earn more Sponge V2 tokens.
Visit or purchase Sponge V2
here
.
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