Bonk Price Prediction: BONK Pumps 11% Amid New Honk Challenge, But Experts Say This Presale Might Be The Next Meme Coin King

The Bonk price surged more than 11% over the past 24 hours to trade at $0.00001164 as of 9:00 am EST as buyers re-enter BONK’s charts.

BONK Challenged By New Solana Meme Coin

The token’s rise comes as a new meme coin, HONK, is attempting to challenge BONK for Solana meme coin supremacy. During the last 24 hours, the underdog managed to outperform BONK, and registered a gain of almost 52% to trade at $0.01936. 

To date, BONK has exploded by more than 10,535% since it launched on Dec. 25, 2022, so HONK still has a lot of ground to make up. Honk has so far soared 675% since its launch on Jan. 19. BONK is also currently ranked at number 86 in terms of cryptos with the biggest market caps, while HONK is down at number 2,294.

The Bonk Price Breaks Above Stronger Bearish Trend Line

TradingView Chart

4-hour chart for BONK/USDT (Source: TradingView)

The Bonk price managed to break above a medium-term negative trend line on its charts in the last 8 hours. This is a major bullish development as the meme coin has been held down by this trend line since Dec. 15, 2023.

BONK could rise to as high as $0.0000192765 in the next couple of days as a result. Continued buy pressure could then boost the Bonk price to as high as $0.0000290295 in the short term. A potential confirmation of this bullish thesis may be if the meme coin closes 3 consecutive 4-hour candles above $0.0000128480 in the next 24 hours.

On the other hand, a break below the $0.0000088550 support level in the next 48 hours could invalidate this bullish thesis. In this alternative scenario, the Bonk price may drop to the subsequent support at $0.0000031115 in the following couple of days.

Buyers May Continue To Boost The Bonk Price

Technical indicators on BONK’s 4-hour chart show that buyers currently have the upper hand, and may attempt to boost the Bonk price higher in the coming couple of days. The Relative Strength Index (RSI) line is positioned above its Simple Moving Average (SMA) line. This technical flag indicates that bulls have an upper hand against bears. 

BONK’s positive trend may also continue in the next 48 hours, as suggested by the Moving Average Convergence Divergence (MACD) indicator. Currently, the MACD line is breaking away above the MACD Signal line, which signals that BONK’s bullish trend is growing stronger. If these technical flags are validated, the Bonk price may soar to the $0.0000192765 resistance level soon.

While BONK battles it out with HONK, Sponge V2 is a presale that’s also taking the meme coin market by storm.

Looking To Repeat Its 100X Success

Sponge V1 was able to generate 100x returns for early-stage investors during the 2023 bear market, and even reached a peak market cap of $100 million. Following this success, the Sponge team is looking to give investors a second chance at substantial gains through the introduction of Sponge V2.

To ensure the latest iteration of the meme coin is able to replicate the performance of its predecessor, the team have lined up multiple exchange listings and have even added a play-2-earn racer game.

Not only will this expose the meme coin to a broader trading audience, it will also introduce a level of utility that is not commonly associated with the majority of meme coin projects.

Offering Investors Many Earning Opportunities

Sponge V2 is not just a promising 100x speculative trading opportunity, it also offers token holders other opportunities to earn. One of the earning opportunities is the project’s lucrative staking program, which is currently giving investors an annual percentage yield (APY) of 269%.

In addition to this, the play-to-earn racer game that will be introduced to the Sponge community soon will allow players to earn more Sponge V2 tokens as well.

Visit or buy Sponge V2 here.

Related Articles:

  • SEC Delays Decision On Grayscale’s Spot Ethereum ETF, Asks If It’s Susceptible To Manipulation And Fraud
  • Donald Trump Holds $1 Million In TRUMP Meme Coin After 15,000% Gain
  • PRESALE CRYPTO LIST: Top Upcoming Cryptocurrencies to Invest in 2024

Comments

Post a Comment

Popular posts from this blog

Barry Silbert deletes old tweets amid GBTC selloff

Under-fire Digital Currency Group founder Barry Silbert has apparently deleted a raft of his old tweets . According to his X (formerly Twitter) account, Silbert signed up in October 2011, however, at the time of writing, his timeline shows no tweets or replies older than January 5 this year. Luckily for die-hard Silbert fans, X user Pledditor has screenshotted some of his “greatest hits.” Looks like @BarrySilbert has deleted all his old tweets The good news? I have screenshotted some of his greatest hits pic.twitter.com/GLWPbCf5mN — Pledditor #FixTheFilters (@Pledditor) January 15, 2024 Read more: Former DCG advisor Larry Summers on list of Jeffrey Epstein’s ‘Harvard friends’ Among the messages saved by Pledditor is a classic in which Silbert brands himself a “ complete and total professional failure ,” and one in which he advises Dogecoin holders to convert it to bitcoin. It’s not clear what prompted Silbert’s Social Media cull but he’s currently taking Social Media ...
Read more

Trader Issues Warning on Solana Rival That’s Up 247% in One Month, Updates Outlook on LDO and One Other Altcoin

Image
A widely followed crypto strategist warns that a Solana (SOL) competitor that’s up more than 3x in the last 30 days is flashing signals that it may have printed a short-term top. The pseudonymous analyst known as Altcoin Sherpa tells his 205,700 followers on the social media platform X that while layer-1 blockchain Sei (SEI) is still in an uptrend, it starting to show signs of bullish exhaustion. “Why it looks good: -consolidation and highly bullish high time frame market structure -still bullish on all time frames -EMAs (exponential moving averages) all catching up + other alts looking strong Why it doesn’t: -could be an exhaustion pump here and last big move up -could be rotation from others (SOL/SEI/etc/) to ETH season also known as ARB/LDO/OP -dying volume/some signs of distribution here.”  Source: Altcoin Sherpa/X At time of writing, SEI is trading for $0.785, up over 247% from its 30-day low of $0.226. The trader is also keep...
Read more

Nuant becomes a member of the OpenWealth Association

On January 18, Nuant joined the OpenWealth Association, contributing to advancing digital assets risk management within Swiss banking, WealthTech, and traditional finance, per the information shared with Finbold. In doing so, Nuant recently joined traditional finance entities such as Credit Suisse, LGT, VP Bank, and WealthTech firms like Assetmax and InvestSuite. This strategic partnership represents a noteworthy progression in crypto investment risk management within Switzerland’s financial sector. The OpenWealth Association aims to establish, uphold, and implement open Application Programming Interface (API) standards within the global wealth management community. This commitment aims to facilitate seamless financial data exchange among institutions. Nuant as representative of the CeDeFi sector Cryptocurrency Anthony Scaramucci says Bitcoin to skyrocket to $170,000 by 2025 Cryptocurrency Donald Trump says he’ll ‘never allow a CBDC’ if elec...
Read more