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The Ponke price surged over 14% in the last 24 hours to trade at $0.3914 as of 7:40 a.m. EST as investors frantically buy the Solana token.
This recent uptick in the PONKE price comes after the centralized exchange Crypto.com announced it has opened deposits for the crypto.
The exchange also announced that trading for the meme coin is live within its mobile app. Traders are able to buy PONKE using over 20 fiat currencies.
The Ponke Price Breaks Multiple Resistance Levels
4-hour chart for PONKE/USD (Source: GeckoTerminal)
Bulls pushed the Ponke price above the resistance level at $0.3214 to flip the mark into support. In the 24 hours that followed, buyers continued to accumulate the crypto, resulting in it overcoming the next technical barrier at $0.3820 as well.
Should PONKE maintain a position above $0.3820 for the next 8 hours, the altcoin might have the foundation needed to keep climbing in the short term. This could then lead to the Ponke price breaching the $0.4477 barrier and potentially soar to as high as $0.5067 in the upcoming couple of days.
However, PONKE breaking below the $0.3820 mark within the next 8 hours might invalidate the bullish thesis. In this alternative scenario, traders could start to realize their profits to force the Ponke price lower in the following 24 hours. Bears might subsequently pull the altcoin’s price down to the aforementioned $0.3214 price point.
The Ponke Price Is Approaching A Key Technical Barrier
Traders and investors will want to take note of the fact that the Ponke price is trading near the upper boundary of the Bollinger Bands indicator on the 4-hour chart. PONKE tried to break this technical barrier twice in the past 24 hours, but both attempts were unsuccessful. Therefore, the Ponke price getting rejected by this level again could lead to a correction.
Meanwhile, the Moving Average Convergence Divergence (MACD) line is positioned bullishly above the MACD Signal line on the 4-hour chart. Traders usually see this alignment as an indication that a crypto is in a short-term positive cycle.
Although the orientation of the MACD and MACD Signal lines gives the impression that the Ponke price will rise in the coming 24 hours, the narrowing gap between the two lines tells a different story.
With the margin between the two technical indicators shrinking, it seems PONKE’s bullish momentum is losing steam. This might also be an early sign of the altcoin’s positive cycle coming to an end. If these bearish signs are validated, the Ponke price could soon lose the $0.3820 support.
While bulls try to push the Ponke price higher, an investor frenzy has erupted around Solana meme coin rival Sealana (SEAL) with its airdrop less than six days away.
A True Degen Project
Sealana (SEAL) is staying true to its meme coin roots and does not come with grand promises or claims of the next technical innovation that will revolutionize the nascent digital asset space.
Instead, the crypto relies on its growing community and the hype around Solana meme coins to gain traction in the market.
This approach has paid off so far, with the crypto raising more than $6 million via its ICO. Sealana’s socials have experienced impressive growth as well, while the development team actively shares memes on the project’s X page to build anticipation for SEAL’s upcoming launch.
With a following on X of more than 12K and a Telegram channel that boasts over 11K members, SEAL has the strong community backing needed to make a splash in the crypto market.
In a recent video, YouTuber Matthew Perry, with more than 223k subscribers, says SEAL “might be a gem.”
Upcoming Airdrop Triggers FOMO Wave
Investors are rushing to buy SEAL before its upcoming airdrop, which is set to take place on July 2 at 1:00 p.m UTC. Buyers will have until July 1, 1:00 p.m. UTC to become eligible for the distribution event. Any tokens purchased in the 24 hours after this deadline will only be claimable after the first airdrop.
The #Presale has ended! 🚨 The #Airdrop will commence on Tuesday, July 2nd at 1 PM UTC! 🕙🦭
Don't worry you can still buy $SEAL before the airdrop begins! 🚀💸 #Sealana is more excited than a fat guy at McDonalds to whale $SEAL into your wallets! 💰 More info comin’ soon! 🔥 pic.twitter.com/9Mafi9u060
— Sealana (@Sealana_Token) June 25, 2024
There is still time to acquire the token at ICO prices before the airdrop and SEAL’s subsequent DEX listing. To get in on the opportunity at this ground stage, investors can utilize the simple buy widget embedded on the project’s official website.
Selling for $0.022, SEAL can be bought using either ETH, USDT, BNB, SOL or bank card.
Purchase SEAL here before its airdrop and DEX listing.
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