Bonk Price Prediction as $600 Million Trading Volume Floods In – Are Whales Buying?
Bonk Tag Prediction as $600 Million Trading Quantity Floods In – Are Whales Buying for?
Long-established meme coin BONK is up 13.6% this day as 24-hour trading quantity hits over $646 million, essentially based on recordsdata by CoinGecko.
BONK is the Sixtieth preferrred cryptocurrency with a market cap factual north of $2.1 billion. This makes it the fifth preferrred meme coin by market capitalization, followed closely by FLOKI with $1.9 billion.
Dogwifhat (WIF) flipped BONK the day earlier than this day and has held onto its lead this day. WIF’s rally over the closing seven days has been essential stronger than BONK’s.
WIF rose 125% to $2.20 while BONK only rose 47% to alter fingers at $0.00003294 as of this writing.
Broadly speaking, cryptocurrencies are unruffled rallying laborious after posting a month of beneficial properties. Bitcoin rose 58% over the closing 30 days to alternate at $67,454, while Ethereum rose 68% to alternate at $3,948.
Over on BONK’s one-month chart seek we will discover a scheme to examine consistent prices unless the closing days of February, when a rally kicked off that peaked on March 4 at around $0.00004 earlier than falling relief.
BONK’s Relative Power Index (RSI) is coming near near 70, which is the threshold signaling when an asset is overbought.
As BONK Meme Slows, SPONGE Takes Off
BONK’s failure to raise up with Shiba Inu, Floki, Pepe and Dogwifhat this week only highlights the precarious nature of speculating on meme money, a volatile and speculative sector in an already volatile and speculative alternate.
Meme money delight in to present safe fundamentals in the occasion that they are attempting to live to issue the story to be extra than factual fads. Generally the strongest meme money delight in the strongest initiatives in the help of them.
Nonetheless, meme money most frequently provide minute fee outside their cultural capital. Dogecoin (DOGE) has a first-mover advantage and originality on its aspect. Shiba Inu is branching out as a community and offering extra utility, and Pepe and Dogwifhat are more energizing.
One meme token that combines freshness with utility and presents extra than laughs is SPONGE. it’s the native token for an racy recent ecosystem.
GM #SPONGERS! 🧽🧽🧽
Did someone enlighten moon? 🚀
Commerce $SPONGE on @dexscreener 👇https://t.co/mRRzvNqdpm#MemeCoin #Crypto #Altcoins #Bullish #100x pic.twitter.com/iVOCDTYMVz
— $SPONGE (@spongeoneth) March 8, 2024
It’s also for the time being rallying very laborious. In accordance with CoinGecko recordsdata, SPONGE is up 153% in the closing week and 57 in the closing 24 hours % as it trades for $0.003623 on the time of writing.
SPONGE is an ERC-2o fashioned token created on Ethereum. It fair recently upgraded (and migrated) to a V2 on Polygon, an Ethereum Layer 2 scaling resolution.
The team also presented a pair of key enhancements with the increase, along with a brand recent staking mannequin that offers a minimum yield of 40% APY.
This yield for the time being sits at around 531%, varied essentially based on the choice of stakes and tokens locked up.
SPONGE also powers an upcoming racing sport the build players compete in opposition to every other to carry out SPONGE rewards.
Aquire And Stake SPONGE On The Website
Disclaimer: Crypto is a excessive-possibility asset class. This article is equipped for informational functions and does not describe investment advice. It is seemingly you’ll lose your whole capital.
Source : cryptonews.com
