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The Honk price has surged 381% in the last 24 hours to trade at $0.0099 as of 05:57 a.m. EST, with trading volume climbing 50% to $5 million.
Honk, a new meme coin on the Solana blockchain, is being dubbed as the Bonk Killer, with the community behind it backing the token as the next big thing. But can it scale Bonk’s heights?
We know what the doge killer did on ETH ($SHIB)
I can’t fade the $BONK killer on SOL. $HONK just broke ATH 🚀🚀🚀🚀🚀@honk_sol congrats to the team and community!!!
— YourPOP (@Yourpop8) January 24, 2024
Honk Bulls Ride The Cup And Handle Pattern
The Honk price signals a continuation of a bullish trend as the price has formed a cup-and-handle pattern.
The support zone at $0.005 gave the bulls a footing to recover from the slight price decline.
The Honk price bulls have shown resilience despite the pullback at the $0.00977 resistance, rebounding at the $0.008 support zone, forming the handle part of the pattern, to drive the price up to new resistance levels.
HONK is also trading above the 50-day and 200-day simple moving averages (SMAs), affirming the bullish momentum with the golden cross forming at $0.002.
The Relative Strength Index (RSI) indicates a rebound at 51, still over the 50-midline level at 55. If the momentum continues, the RSI could reach the overbought level of 70.
Honk Price Prediction
The general trend for the Honk price remains bullish. The cup and handle pattern further cements the ground for the bulls to drive the price up, targeting the $0.0132 mark.
However, if the bullish momentum does not sustain itself, bears could take control, driving the price slightly down to the $0.008 support zone.
As the Honk price continues to surge, investors are also flocking to the Sponge V2 presale in the belief it may among the next meme coins to explode on launch.
A Promising Alternative To Honk
Sponge V2 is the sequel to SpongeV1, which surged 100X last year. Sponge V2 gives investors another chance to acquire and stake the token, and hopefully ride the token to another 100x on launch.
Sponge V1 amassed a market capitalization exceeding $100 million, with over 13,000 participants flocking to the platform. Additionally, it was listed by more than ten centralized exchanges (CEXs), including BitMart, LBank, and Toobit.
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
With a small window left until its official launch, Sponge V2 has already seen more than $4.4 million in staked and bridged tokens.
Apart from the improved staking system that the Sponge sequel presents, it has also introduced Play-to-Earn (P2E) gaming features, which provide you with an opportunity to earn through interactive gameplay.
#SpongeV2 isn't just another token; it's a game-changer with innovative #P2E gaming and enhanced staking rewards. 🧽💦
Who’s ready for another 100x? 😎🚀#AltGem #Trading #MemeCoin pic.twitter.com/Is3GTemDwN
— $SPONGE (@spongeoneth) January 20, 2024
The development team behind Sponge V2 is also anticipating the release of its new P2E game called “Sponge Racer,” with the aim of drawing in new investors and players. In the game, you will be able to use your acquired Sponge V2 tokens to participate.
Justin Sun Buys $SPONGE
Tron founder Justin Sun bought $SPONGE last year, with the holding now worth more than $90,000. He had earlier announced his intention to invest in meme coins that show potential.
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 V2 offers a lucrative opportunity via its stake-to-earn feature that offers an impressive annual yield of 274%.
💸🛌 Earn passive rewards just by staking your $SPONGE! 🤯
Join the #SpongeV2 takeover and enjoy our current APY of 300%+ 😎
Absorb the damp! 🧽💦🙌 #MemeCoin #Presale #Staking pic.twitter.com/OJ08MgMmWy
— $SPONGE (@spongeoneth) January 19, 2024
Conor Kelly, a prominent YouTuber with a following exceeding 180,000, predicts the project might explode on launch, surpassing the popularity of Sponge V1.
To buy Sponge V2 tokens, visit the official SpongeV2 website and connect 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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