Bonk Price Prediction 2024 – Is BONK a Buy?
The post Bonk Price Prediction 2024 – Is BONK a Buy? appeared first on Coinpedia Fintech News
With prices rising daily, it’s only a matter of time before the next parabolic meme coin season begins.
Bonk, Solana’s second-largest meme coin, has shown notable strength this week, pumping 11%. So is BONK a buy, or are there better options on the market?
Bonk Price Pushes Toward Highs as Traders Anticipate Further Upside
Currently trading at $0.00002688, Bonk has shown considerable strength recently as it recovers from a market-wide selloff.
It is trading at an almost 50% premium from its April lows and is up 22% from one month ago.
Analyst Expert Investments noted that Bonk’s recent uptick catapulted it to the upside of a wedge pattern, indicating that more gains could be on the horizon.
Based on the trader’s analysis, Bonk could advance toward $0.00006 in the coming weeks.
“BONK has broken out of the triangle with a decent volume. A continuation of the bullish move is expected,” the analyst wrote.
Similarly, WebTrend Analytics forecasts a move toward $0.00005 shortly. The analyst’s thesis is based on Bonk displaying similar price action that led to its previous all-time high (ATH).
The analyst explained, “BONK’s 4-hour chart exactly mirrors the previous local blow-off top. This is the craziest repeated pattern we have ever seen.“
He continued, “RSI, WSI, and price action are all exact matches. Compared to previous price action, it suggests we are moments away from another blow-off top.”
While there’s no doubt that these analyses spell a bullish outlook for Solana’s second-largest meme coin, other traders are considering all potential outcomes.
“Bonk has been strong off the lows and is at local range high. A shallow pullback or breakout is preferable from here. However, retracing back to the range low would be a tough look,” wrote renowned trader CryptoCred.
Based on this analysis, it is crucial that Bonk’s momentum continues from here because a retracement to its range low would be bearish.
Still, Bonk is currently in a favourable position, having recovered a significant portion of its recent downside.
However, another meme coin displaying massive momentum is Sealana. The project is a new Solana-based meme coin that recently surpassed the $200K total raised mark.
New Meme Coin Sealana Surges Past $200k – Next SOL Presale to Explode?
The Solana presale circuit has seen no shortage of hyper-profitable launches in the past months. Projects like Book of Meme and Slerf kickstarted the trend, both reaching unprecedented heights following their ICOs and printing countless millionaires in the process.
Then Slothana took the reins, where it raised over $15 million in a couple of weeks. However, the hottest project today is Sealana, a hilarious seal-themed meme coin that has swapped his sea-dwelling lifestyle to pursue meme coin riches.
A once-in-shape aquatic mammal, Sealana now embraces the degen trader lifestyle, living in his mom’s basement where he eats canned tuna and chips, hoping to one day leave the life behind for Lambos and vacations.
The playful new project has caused a stir in the market, with leading analysts and media outlets backing it as the next Solana presale to explode.
Prominent trader ClayBro said “Sealana is the next Solana meme coin set to rally,” and predicted it could 10x.
Meanwhile, leading media outlets like CryptoPotato, WatcherGuru, and CoinGape have featured the project, reflecting its impressive hype-garnering ability.
Indeed, the future looks bright for Sealana, but with no predetermined presale hard cap announced, potential buyers are racing against the clock to secure their purchase.
