Bonk Price Up 29% in a Week; Could This New Solana Meme Coin Surge Next?

Please fol­low and like us:
Pin Share

As the broad­er cryp­to mar­ket turns bull­ish, Bonk has seen excep­tion­al results, pump­ing 7% today and 29% this week.

But with a mar­ket cap of over $800 mil­lion, traders are eager­ly search­ing for the next Solana meme coin to surge. One promis­ing con­tender is Smog, which soared 1,400% in its open­ing hours.

Bonk Follows as Solana Gathers Momentum

Bonk’s 29% uptick was enabled by SOL push­ing ahead, recent­ly flip­ping BNB to become the fourth largest cryp­tocur­ren­cy by mar­ket cap. Solana’s surge has result­ed in a 19% increase this week.

Grow­ing demand for SOL has ben­e­fit­ted Bonk’s price because it is native to the Solana blockchain.

The increase has pushed BONK above the 50-day EMA. Fur­ther­more, since break­ing above on Fri­day, it has con­sol­i­dat­ed which sig­nals a bull­ish trend con­tin­u­a­tion is likely.

How­ev­er, the Unit­ed States’ CPI fig­ures for Jan­u­ary have just been announced at 3.1%. This was high­er than expect­ed, with con­sen­sus antic­i­pat­ing 2.9% inflation.

Con­se­quent­ly, volatil­i­ty has ensued in the cryp­to mar­ket, with Bonk tak­ing a small dip. This may affect its chances of hold­ing the 50-day EMA in the days ahead.

Nev­er­the­less, long-term price pre­dic­tions remain bull­ish. Accord­ing to Trad­ingView ana­lyst The Trad­ing Wiz­ard, Bonk is poised for over a 2x move from its cur­rent price to $0.000033.

The Trad­ing Wiz­ard high­lights that Bonk recent­ly broke a descend­ing tri­an­gle chart pat­tern on the 4‑hour time frame and spec­u­lates a trend line retest before an explo­sive pump.

Mean­while, ana­lyst Baby­blockchain not­ed a dou­ble bot­tom pat­tern for­ma­tion and antic­i­pates a move toward $0.000017.

“BONK, Solana’s meme coin, exhibits resilience! Hold­ing above the $0.0000095 sup­port, it forms a dou­ble bot­tom pat­tern with three rever­sals. At the cur­rent $0.0000167 price, it aims for a 53% rise towards $0.0000178 resis­tance,” wrote the ana­lyst on X.

But with Bonk’s mar­ket cap already over $800 mil­lion, traders are active­ly seek­ing new alter­na­tives with more upside poten­tial. Cur­rent­ly, the hottest Bonk alter­na­tive is Smog, a mul­ti-chain meme coin that soared 1,400% in its open­ing hours.

New Meme Coin Smog Offering Airdrop, 42% Staking APY and Multi-Chain Functionality

While Bonk is Solana’s lead­ing meme coins, sev­er­al oth­er projects like Dog­wifhat and Myro have been snap­ping at its heels, see­ing out­sized gains in recent months.

But the lat­est meme coin hype, Smog, looks to take Bonk’s crown once and for all, pow­ered by a gen­er­ous air­drop and mul­ti-chain functionality.

Avail­able on Solana and Ethereum, Smog has access to a much deep­er liq­uid­i­ty pool, enabling price sta­bil­i­ty and organ­ic long-term growth.

Despite launch­ing on 7 Feb­ru­ary, it already holds a $24 mil­lion mar­ket cap. This illus­trates mas­sive com­mu­ni­ty inter­est, like­ly dri­ven by its airdrop.

35% of Smog’s total sup­ply is allo­cat­ed towards the air­drop. Based on its FDV of $42.5 mil­lion, this equates to $4.875 mil­lion worth of $SMOG.

There are numer­ous ways to gain air­drop eli­gi­bil­i­ty, the first being to buy and hold the token. Poten­tial par­tic­i­pants can learn oth­er ways to enter or increase their chances of win­ning on the Smog Zealy page.

Those who buy Smog on the Ethereum net­work can also stake their tokens to earn pas­sive rewards. The stak­ing APY is 42%, and so far, over two mil­lion Smog have been staked.

Solana Smog hold­ers can bridge their tokens to Ethereum using Portalbridge.com and stake them on the project’s website.

Vis­it Smog Website

Dis­claimer: The above arti­cle is spon­sored con­tent; it’s writ­ten by a third par­ty. Cryp­toPota­to doesn’t endorse or assume respon­si­bil­i­ty for the con­tent, adver­tis­ing, prod­ucts, qual­i­ty, accu­ra­cy, or oth­er mate­ri­als on this page. Noth­ing in it should be con­strued as finan­cial advice. Read­ers are strong­ly advised to ver­i­fy the infor­ma­tion inde­pen­dent­ly and care­ful­ly before engag­ing with any com­pa­ny or project men­tioned and do their own research. Invest­ing in cryp­tocur­ren­cies car­ries a risk of cap­i­tal loss, and read­ers are also advised to con­sult a pro­fes­sion­al before mak­ing any deci­sions that may or may not be based on the above-spon­sored content.

Read­ers are also advised to read CryptoPotato’s full dis­claimer.

SPECIAL OFFER (Spon­sored)

Binance Free $100 (Exclu­sive): Use this link to reg­is­ter and receive $100 free and 10% off fees on Binance Futures first month (terms).

Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published.