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The Bonk price has pumped by 16% in the last 24 hours to trade at $0.00001497 as of 8:05 a.m. EST.
This comes as Lookonchain reports that a smart whale who previously earned millions trading Bonk (BONK) has again bought over three billion BONK tokens.
This smart trader who made ~$6.9M on $BONK spent 386 $SOL($40K) to buy 3.29B $BONK again today!
He accumulated 371.4B $BONK in 9 months at a cost of only 6,998 $SOL($276K) and sold half of the $BONK during the $BONK surge for 50,139 $SOL($5.2M).https://t.co/pOFRD2ndI8 pic.twitter.com/lkgGm13G0e
— Lookonchain (@lookonchain) January 9, 2024
Bonk Price Prediction
Looking at stats from 30-minute BONK/USDT charts, the Bonk price is en route to a recovery after its recent pump. The Relative Strength Index indicator has reverted to a northern trajectory, suggesting building bullish pressure on the meme coin.
The MACD indicator, on the other hand, is also reverting towards the green zone, showing fading bearishness.
The 50-period moving average has also exceeded the 200-period moving average to form a golden cross. This asserts bull dominance on the meme coin, with a Bonk price recovery looming in the short term.
30-minute BONK/USDT chart | Source: TradingView
Meanwhile, as the Bonk price heads toward a recovery, Sponge V2 is emerging as another meme coin alternative for investors. It ranks among the top presales of 2024 and the project has over $3.9 million in presale funds raised.
Bonk Price Prediction: Does Sponge V2 Have More Upside?
Sponge V2 (SPONGEV2) is born as a progression from the triumph of Sponge V1, introduced in May of last year and exploding 100x on launch.
Its ecosystem introduces play-to-earn games, and enticing staking incentives that form the nucleus of Sponge V2’s appeal.
Sponge V2’s tokenomics and practicality are a significant upgrade, too. A standout feature is the incorporation of play-to-earn gaming, empowering holders to accumulate additional SPONGEV2.
The enthralling battle and racing game captivates users and allocates tokens based on participants’ rankings. This places the token at a competitive edge in the gaming tokens arena.
💸🛌 Earn passive #SPONGEV2 rewards just by staking your $SPONGE!
Enjoy over 40% APY and watch your holdings grow.
It's never been easier! 🧽💦🙌 #CryptoStaking #MemeCoin #Alts pic.twitter.com/N0z2n4W9is
— $SPONGE (@spongeoneth) January 10, 2024
Launch Dynamics
As the interest in the original token continues to surge, the price of Sponge V2 looks poised for a meteoric rise. Crypto analyst Jacob Bury said recently that he sees the potential for Sponge V2 to do another 100x on launch.
Sponge V2 boasts appealing staking benefits and seamless game integration. Having already secured over $3.9 million in funding, its impending launch is expected to generate a huge buzz.
Get your Sponge V2 tokens here.
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