{"id":476365,"date":"2024-01-30T10:22:48","date_gmt":"2024-01-30T10:22:48","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=476365"},"modified":"2024-01-30T10:22:48","modified_gmt":"2024-01-30T10:22:48","slug":"honk-price-prediction-solana-meme-coin-honk-plunges-14-as-this-new-gamefi-presale-roars-towards-8-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/honk-price-prediction-solana-meme-coin-honk-plunges-14-as-this-new-gamefi-presale-roars-towards-8-million","title":{"rendered":"Honk Price Prediction: Solana Meme Coin HONK Plunges 14% As This New GameFi Presale Roars Towards $8 Million"},"content":{"rendered":"

The Honk price <\/span>plummeted<\/span><\/a> more than 14% over the past 24 hours to trade at $0.01399 as of 11:45 pm EST.<\/span><\/p>\n

The Honk Price Has Formed A Bearish Channel<\/span><\/h2>\n

\"TradingView<\/p>\n

4-hour chart for HONK\/USDT (Source: <\/span>TradingView<\/span><\/a>)<\/span><\/p>\n

The <\/span>Honk<\/span><\/a> price has been trading in a consolidation channel since Jan. 27. In the last 24 hours, however, the altcoin has printed a series of lower lows and lower highs. This has led to the formation of a descending price channel. Should this sell pressure persist, HONK could soon retest the support level at $0.012040.<\/span><\/p>\n

This bearish thesis may be invalidated if the Honk price is able to overcome the $0.016115 resistance. This will not only place it above the current bearish channel, but will also result in the crypto flipping the $0.016115 resistance into support. Buyers may then identify this as a long entry, which will subsequently lead to <\/span>HONK<\/span><\/a> rising. As a result, the Honk price could attempt to break through the $0.019125 threshold as well.<\/span><\/p>\n

The Honk Price Is Trying To Break Its Negative Cycle<\/span><\/h2>\n

The Honk price is currently attempting to overcome the middle level of the descending price channel. A 4-hour candle close above this point may be an early indication of a bullish move. Conversely, HONK failing to establish a position above this mark could put it at risk of continuing to drop in the next 48 hours.<\/span><\/p>\n

While the Honk price may continue to drop, Meme Kombat is fast-approaching the $8 million mark in its presale.<\/span><\/p>\n

Introducing Gaming To The Meme Coin Space<\/span><\/h2>\n

Meme Kombat<\/span><\/a> is a decentralized gaming platform where the most well-known memes will soon battle it out. Token holders will be able to place bets on these battles on who they think the winner will be. <\/span><\/p>\n

They will then receive rewards if their character wins. In addition to this, there will also be more-hyped battles that will take place within the ecosystem, which will give players the opportunity to earn more lucrative rewards.<\/span><\/p>\n

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The $7.6 million milestone has been put to bed!<\/p>\n

We keep pushing! $25k giveaway at $8million🥊 pic.twitter.com\/muZYlQPg4J<\/a><\/p>\n

— Meme Kombat (@Meme_Kombat) January 28, 2024<\/a><\/p><\/blockquote>\n