Bonk Price Prediction: BONK surges 51%, surpassing PEPE, but ahead of a massive airdrop, investors are flocking to this new Solana Meme coin.

adminMarch 1, 2024

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Bonk price has surged 51% in the last 24 hours. Traded for $0.00002117 As of 4:46 a.m. EST, trading volume had increased 73% to $871 million.

This is the result of Solana-based meme coins surging ahead of PEPE in terms of market capitalization. BONK’s market cap is now over $1.4 billion, with PEPE lagging behind at $1.2 billion.

Bonk price strength, breaking out of falling wedge

Bonk price chart analysis Source: Geckoterminal.com — BONKUSD Chart Analysis Source: Geckoterminal.com

Since mid-December 2023, Bonk price has been falling within the range of the descending wedge pattern. However, the price appears to have been trading in the $0.000014 range and the bulls have won the contest.

BONK bulls regained price control by breaking above the upper bound of the descending wedge, indicating continued bullish momentum.

BONK is generally bullish and is trading above its 9-day exponential moving average (EMA), indicating a buy signal that could push the price higher.

Additionally, the Relative Strength Index (RSI) is moving north into overbought territory at 79, indicating strong buying pressure.

BONK Mcd

The Moving Average Convergence Divergence (MACD) also supports bullish sentiment as the moving average line (blue) crosses above the signal line (orange), indicating a bullish crossover. A bullish crossover is a signal for buyers to increase their holdings and encourage new buyers to enter the market.

The green bar in the histogram also supports this by rising above the zero line, showing positive momentum.

Bonk Price Prediction

Bonk price analysis shows bullish momentum driven by price breakouts and trading above the falling wedge pattern. Moreover, BONK is trading above the 9-day EMA, which means more buying is needed and the price is likely to rise even further.

With this, the bulls are aiming to push the price higher to target the next resistance level at $0.000035.

However, RSI has already entered overbought territory at 79, indicating a possible correction. In this case, the price would return to the support level of $0.00000976, acting as a buffer against downward pressure.

However, despite the surge in Bonk prices, some investors are turning to Smog, another Solana meme coin. Smog plans to gift holders the largest airdrop in cryptocurrency history.

Buy Smog Tokens: The Next Big Giveaway

smog has gained impressive traction within the meme coin community this month following its fair launch on the Jupiter DEX on February 7th. The project has already amassed over 30,000 holders, over 68,000 cross-platform communities, and has built a market capitalization of over $43 million.

Smog price chart. Source: dexscreener.com

Smog has surged and we are expecting a rally beyond last week’s ATH set. Analysts are predicting that this could be the next Solana meme coin, and Solana’s intention to dominate the meme coin sector can be seen in its slogan: “One meme coin rules them all.”

one #memecoin To rule them all! 🚀
Get ready for the best moment #airdrop Distributed in History #Solana. 💰
join #smog From Jilly! 🔥
Profile link 🔗 pic.twitter.com/vsn4p5cSF4
— Smog (@SMOGToken) February 8, 2024

The project aims to deliver the largest airdrop in history, and the team has already allocated 35% of Smog’s 1.4 billion token supply to the airdrop.

To qualify for the airdrop, the easiest way is to purchase and hold Smog tokens. There are also gamified ways to collect airdrop points by performing and completing various tasks managed by Zealy. Zealy has over 11,000 airdrop members who have already completed over 700,000 quests.