Honk price plunged by 37% in the past 24 hours, trading at $0.008509, and trading volume plummeted by 48% to $1.5 million.
Honk has emerged as a formidable competitor to Bonk in the vibrant Solana ecosystem, drawing inspiration from the beloved Untitled Goose Game meme, known for its playful and mischievous goose character.
Despite the recent decline, Honk has shown remarkable resilience, with prices surging 81.10% over the past week.
This gain outperformed other comparable cryptocurrencies in the Solana ecosystem, which saw their overall value increase by 16.2%.
Honk price bulls anticipate a bullish trend reversal.
HONKUSDT chart analysis. Source: Tradingview.com
HONK price showed that bulls pushed the price higher to reach the $0.03141 resistance level before the bears forces caused the price to decline.
However, the position where the price formed a falling wedge pattern at $0.00808 indicated a bullish trend reversal signal, which was viewed by traders as a signal of a bullish trend reversal.
If the bullish momentum persists, bulls have the potential to send the price flying above the upper boundary of the descending wedge pattern, confirming the expected bullish move.
However, the bulls must overcome the resistance at the 50-day simple moving average, which is an immediate resistance level for the Honk price.
The Relative Strength Index (RSI) is rising, rebounding from the oversold zone of 30 levels and is currently at 36, close to the midpoint of 50. If the bullish momentum further strengthens, the RSI has the potential to surge to the overbought zone of 70 levels.
Honk Price Prediction
Honk price is showing a bullish reversal in the falling wedge pattern. In this case, the bulls are likely to push the price higher with a target of $0.0234. However, the bears are likely to continue their decline in the falling wedge pattern.
Meanwhile, a surge in memecoins on the Solana blockchain has attracted interest from investors around the world, promising lucrative returns on investment. SMOG is one of them, and it has been growing rapidly since it was listed on Jup Dex this week.
Everyone is talking about Jupiter and the JUP airdrop, but is the $SMOG airdrop the next big crypto giveaway?
The SMOG token quickly gained popularity and achieved significant growth after it was listed on the JUP exchange and quickly received new funding.
Analysts believe that SMOG has the potential to surpass other meme coins such as BONK, FIRE, MYRO, and WIF. In the past 24 hours, SMOG price surged by 212% to a trading value of $0.0588.
Don’t miss out on the biggest airdrop ever, buy SMOG now.
After witnessing Jupiter’s massive $700 million airdrop, which brought impressive returns to investors, the $SMOG token is now expected to offer a larger and more attractive airdrop opportunity.
The SMOG team described it as the “largest airdrop event ever,” with 35% out of a total token supply of 1.4 billion being used for it.
Additionally, 50% of the total supply has been used for marketing purposes, 10% is for future exchange listings, and 5% is for post-listing liquidity.
Holding just $SMOG token means you are eligible to participate in the upcoming airdrop event. In addition, you will also be eligible to receive a portion of the community rewards generated by the event, further incentivizing you to hold tokens.
Jacob Bury, a cryptocurrency analyst and YouTuber, mentioned SMOG in one of his videos and said that the coin could potentially bring a 100x return on investment.
In order to be eligible for the upcoming historic airdrop event, you can purchase SMOG tokens through its official website.
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