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The Honk price has soared 144% in the last 24 hours to trade at $0.0237 as of 1:30 a.m. EST on trading volume that jumped 129% to $7.5 million.
HONK, a meme coin newly introduced on the Solana blockchain, made its market entrance earlier this week, showcasing a playful goose mascot that has captured the attention of individual investors, contributing to its rising popularity.
Experiencing substantial growth in its first two days of trading, HONK’s market capitalization has already reached $9.7 million, with a weekly performance surge of 634%.
“The main goal of HONK is to escalate its rivalry with BONK to a whole new level and leverage the power of memes to catapult itself to the top of the memecoin space on the Solana blockchain,” says a description of the token on CoinMarketCap.
Honk Price Faces Resistance, Can The Bulls Sustain The Momentum?
The Honk price experienced a short consolidation period after a hike that saw investors profit massively to the $0.020 resistance point.
However, the bulls have amassed enough energy to drive the price upward and break out of the consolidation stage.
The resistance level at $0.031 has stopped the bulls from further profiting as the price level has been tested about three times. This has allowed the bears to exert pressure, causing a decline in the price.
The 50 Simple Moving Average (SMA) is also bullish, establishing itself as a support for the price.
The relative strength index indicates a rebound at the 50-neutral level. If the bullish momentum sustains, the RSI could surge back to the overbought level.
Honk Price Prediction
The overall trend for Honk is bullish, with rebounding on the 50 SMA. With sustained bullish momentum, the bulls could reach a $0.04 high, surpassing the current resistance level at $0.031.
However, if the price slips below the 50 SMA, this may force the bulls to find a haven at the $0.012 support zone.
If you’re on the hunt for tokens with similar potential to Honk, Sponge V2 presents precisely that opportunity. Many investors are already incorporating SpongeV2 into their portfolios after its predecessor, Sponge ($SPONGE), soared 100x after launch last year.
Sponge V2 Poised For 100X Gains; Justin Sun Holds Sponge
Sponge V2 aims to emulate the remarkable achievement of Sponge V1, which enjoys a support base of 13,000 holders and secured listings on more than ten exchanges, including LBank, Toobit, CoinW, BTCEX, and BitMart.
10 exchanges not enough? 😉#SpongeV2 will be listed on BIGGER AND BETTER exchanges! 🔥
You’re not ready for what’s coming next 👀#SpongeV2 #MemeCoin #Presale pic.twitter.com/LdXRYu65Z8
— $SPONGE (@spongeoneth) January 23, 2024
Tron founder Justin Sun bought $SPONGE last year that’s now worth more than $90,000, helping boost sentiment toward the token. This is after showing his interest in trading meme coins and promising projects in a May 2023 post on X.
I've decided to begin actively trading meme coins and promising projects through my public address. Please note, I will personally bear all potential losses from these trades, and any profits made will be donated entirely to charity.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 11, 2023
Sponge Token: Staking, Rewards, And ‘Sponge Racer’ P2E Game Ahead
If you are holding $SPONGE, you can stake your tokens and earn $SPONGEV2, with appealing annual percentage rates reaching as high as 270%. The total value of staked SPONGE tokens has now surpassed 5.9 billion.
Exciting news, #SPONGERS! 🔥🔥
There are now over 5,627,448,685 $SPONGE tokens staked with a value of $5,445,468.33 🤯🧽🧽
Stake your tokens now to enjoy our current APY of +280%!
GO GO GO 🚀#SpongeV2 #Crypto #100x #Bullish pic.twitter.com/PsD2Sycxjj
— $SPONGE (@spongeoneth) January 22, 2024
The Sponge team will also unveil “Sponge Racer,” a play-to-earn (P2E) game that is poised to attract new investors and players. The game will be available for all, featuring a free and paid version.
The captivating Bikini Bottom, where you can gather Sponge tokens while engaging in thrilling underwater adventures, serves as the game’s power source. This creates opportunities to explore iconic settings and unlock rewarding incentives.
🎮🌟 Get set to explore the unique #PlayToEarn game in #SpongeV2!
Play, enjoy, and earn $SPONGE! 🧽
Visit our website to get involved before it's too late. 🤯⏰ #P2E #Bullish #MemeCoin #Web3 pic.twitter.com/bI8DLlgfA9
— $SPONGE (@spongeoneth) January 16, 2024
ClayBro, a crypto YouTuber boasting over 116K subscribers, says $SPONGEV2 has the potential to mirror the 100x surge of the original $SPONGE last year.
To join, you can start by visiting the official Sponge V2 website, and link your digital wallet to swap your ETH or USDT for V2 tokens. You can also buy directly using your bank card.
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