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The Honk price has pumped by 25% in the past 24 hours to trade at $0.0156 as of 2:13 a.m. EST.
The recent popularity of Solana meme coins has seen Honk pocket some massive gains, recording an impressive 526% pump in the last 7 days.
Which one is the best SOLANA Memecoin? $KORRA $PONKE $HONK $BONK
— ROMMS (@romms_romms) January 24, 2024
Honk Price Prediction
Analyzing 30-minute HONK/USDT charts, we see that the Honk price is hovering near the lower Bollinger Band, which often indicates that the asset may be in a potentially oversold condition or that it is trading at low volatility.
The Relative Strength Index (RSI) is around 40, which is neither in the overbought (typically above 70) nor oversold (typically below 30) zones. This indicates that there is neither significant buying nor selling pressure at the moment.
Additionally, the Average Directional Index (ADX) with a value of 13.51, suggests that the current trend is weak hence the possibility of a correction.
On the other hand, the Moving Average Convergence Divergence (MACD) line is below the signal line and both are trending downwards below the zero line, which could be indicative of a bearish momentum. The histograms are also increasing in size as they move in the negative region, which might suggest that bearish momentum is garnering traction.
30-minute HONK/USDT chart | Source: TradingView
Meanwhile, as bulls struggle to keep up the Honk price pump, Sponge V2, the successor to Sponge ($SPONGE), is emerging as a compelling meme coin alternative as it is ranked among 2024’s top meme coin picks.
Honk Price Prediction: Is Sponge V2 The Better Meme Coin?
Sponge V2 introduces several new elements, notably its groundbreaking Play-to-Earn (P2E) gaming feature that combines thrilling gaming experiences with user interaction.
Sponge V2 is soon to list on various global exchange platforms, offering a fresh opportunity for those who missed its 100x surge last year.
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
After listing on major centralized digital currency exchanges like BitMart, LBank, and Toobit, SpongeV1 garnered upwards of 13,000 investors, pushing its market value beyond the $100 million mark.
To date, over $3.9 million in Sponge V2 tokens have been staked and bridged.
Justin Sun Holds $SPONGE
During the past year, Tron’s creator Justin Sun has invested in $SPONGE coins, currently valued at over $90,000. This acquisition aligns with his recent declaration on X (formerly Twitter), indicating his commitment to meme coin ventures with promising profitability prospects.
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 now features a stake-to-earn model offering a remarkable 263% annual return. As Myro’s value continues to flounder, meme coin enthusiasts can engage in this endeavor to secure profitable outcomes.
Prominent YouTube influencer Conor Kenny, boasting over 178,000 subscribers, believes this project could eclipse Sponge V1 in fame and potentially yield 100-fold returns upon its introduction. To acquire Sponge V2, link your wallet to the SpongeV2 site and convert Ethereum or USDT into V2 tokens to procure Sponge V2 tokens. Alternatively, these tokens can also be purchased using a credit card.
To visit the official Sponge V2 webpage and buy the token, click here.
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