The Bonk price has dipped by 3% in the past 24 hours, slipping to $0.00001374 as the crypto market holds tight to a total cap of $2 trillion.
Despite today’s loss, BONK remains up by close to 33% in the last seven days, and while it’s flat in the past month it’s also up by an impressive 1,200% in the last 12 months.
Bonk’s past performance means that traders shouldn’t discount the meme token as a potential vehicle for big profits, even if it hasn’t enjoyed any dramatic gains across the month as a whole.
Yet investors may also consider other, newer meme tokens, with two in particular – Sponge (SPONGE) and Smog (SMOG) – ready to begin listing on new exchanges in the next few weeks.
Bonk Price Surges 33% in 7 Days
After several weeks of stagnation, it seems that BONK is gathering some momentum, which could continue intensifying in the near term.
Its relative strength index (purple) has settled at around 60, after buyers pushed it from below 40 more than a week ago.
BONK’s 30-day average (yellow) has also recently picked up after declining since the New Year, signalling what may possible be the beginning of a new bullish period for the coin.
Given that the meme token is 60% down from its all-time high of $0.00003416 (set in mid-December), it would certainly be plausible to say that it has corrected enough and should recover soon.
Yet it may be rash to conclude that it will return to something like its former strength, with its 24-hour trading volume still 92% down from its peak in December.
And as we’ve noted before, it has been quite a while since a whale came in with a big BONK buy, suggesting that it’s struggling to recreate earlier interest.
GM Friday and everyone living it!
FRYday, another busy & productive week but my brain is not at all fried. BONK rumours…
– Potential BONK listing on Revolut
– Anyone not sell way back after airdrop?
– ShibashadesL[io]ve pic.twitter.com/YL1C5lovyN
— Clvb (@ClvbSpace) February 16, 2024
This may change, however, if yesterday’s reports regarding a Revolut listing for Bonk are true.
If so, such a listing could reignite interest in BONK, helping to attract retail and larger investors alike.
If not, BONK may struggle to recapture its former glories, even if an increasingly bullish market may help it enjoy recurring modest rallies.
From its current price, it could potentially reach $0.000020 in the next few weeks, with a Revolut listing possibly even pushing it towards 0.000030.
2 New Meme Coins That May Also List on Binance
Traders should remember that meme coins are far from being in short supply at the moment, with several more promising meme tokens standing out from the crowd.
Two particularly exciting new tokens are Sponge (SPONGE) and Smog (SMOG), which have both listed on decentralized exchanges in the past couple of weeks.
Running on Polygon, Sponge (SPONGE) recently launched the second version of its token, which features an improved staking model.
📣 Attention, #SPONGERS!
Here is some important information to remember about $SPONGE V2!$SPONGE V1 has officially been discontinued, and V2 has been launched on #Polygon! 🔥
Learn more about the token details below 👇https://t.co/TCdxgXx40w
🧵1/3 pic.twitter.com/YZzXOlKmHY
— $SPONGE (@spongeoneth) February 6, 2024
Its new staking model offers up to triple-digit yields, which vary according to how many stakers there are and on how long they’ve staked tokens.
It will also be the native token for an upcoming P2E racing game set in the Sponge universe, which will reward players according to how highly they rank on a global leaderboard.
It has risen by more than 130% since listing on Uniswap last week, making it one of the best-performing coins in the market over this period.
One other high-performing new meme coin is Smog (SMOG), which runs on the Solana blockchain and has recently listed on Birdeye and Jupiter.
Impressively, SMOG has rocketed by over 4,500% since listing last week, with investors falling over themselves to snap up the new token.
And the reason why it has managed to outperform so many of its rivals is that it features a novel and very bullish airdrop system.
One #Memecoin to rule them all! 🚀
Get ready for the greatest #Airdrop in history, distributed on #Solana. 💰
Join #SMOG on Zealy! 🔥
Link in Bio 🔗 pic.twitter.com/vsn4p5cSF4
— SMOG (@SMOGToken) February 8, 2024
Namely, Smog’s regular drops will reward holders in proportion to how many SMOG tokens they already hold.
As such, it incentivizes long-term holding, which in turn should boost its price over time.
This is why it has become one of the hottest new Solana-based meme tokens in the market, and along with SPONGE, it’s likely to rally vigorously as more exchanges list it.
Buy SMOG Here
Buy Sponge V2 Here
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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