Analyst Says Solana-Based Memecoin Going Much Higher, Sees PENGU Facing ‘True Test’ After April Surge
A closely followed crypto strategist believes one memecoin running on Solana (SOL) is not yet done rallying, even after posting over 60% gains this month. Pseudonymous analyst Altcoin Sherpa tells his 245,000 followers on the social media platform X that he’s bullish on Bonk (BONK) following the altcoin’s breakout of an accumulation zone on the three-day chart. The trader shares a chart suggesting that BONK can rally to as high as $0.0000262 after taking out its resistance at $0.0000142. “BONK is going much higher (I have a bag). Looks good on the charts as well. Think I’m going to add to my position if I get a small dip.” Source: Altcoin Sherpa/X At time of writing, BONK is trading for $0.0000182. Turning to the native asset of the non-fungible token (NFT) project Pudgy Penguins (PENGU), the trader says the altcoin needs to print a bullish higher low setup at around $0.0065 to start reversing its multi-month downtrend. Otherwise,...