Bonk, Solana’s second-largest meme coin, is gathering tremendous momentum today as it soars 19%.
Meanwhile, the newly launched SOL meme coin Sealana also looks bullish as its presale raises $140K on its opening day.
Meme Coin Frenzy Causes Bonk to Soar, But Traders Speculate Further Gains Ahead
After dominating the Solana meme coin circuit for most of its history, Bonk was overtaken by Dogwifhat this year, which became Solana’s new frontrunner.
However, Bonk is vying for top dog status once again as it outpaces the market leader, pumping 19% today while Dogwifhat is up 10%.
Currently, Bonk is trading at $0.00002593, which puts it at breakeven this week but up 12% this month.
It holds a $1.6 billion market cap and a $513 million 24-hour trading volume.
Analysts have recently hailed Bonk, noting its remarkable display of strength and speculating this is a sign of things to come.
Meme coin trader Benjaminxbt cited that Bonk’s uptick marks the breakout of a bull flag pattern to the upside. This price action is synonymous with a trend reversal, spelling the end of downside movement and laying the way for an uptrend continuation.
“Bonk has formed a bullish flag pattern. Breaking the resistance it has confirmed the upward momentum. We may see a nice pump and rise upwards,” he wrote.
Meanwhile, WebTrend Analytics anticipates a move toward $0.00005 in the coming weeks, noting that Bonk had similar price action which catapulted it to an all-time high in March.
In a recent tweet, the analyst explained, “Current BONK’s 4-hour chart is exactly mirroring the previous local blow-off top. This is the craziest repeated pattern we have ever seen. “
He continued, “RSI, WSI, and price action are all exact matches. Compared to previous price action, it suggests we are moments away from another blow-off top.”
Indeed, these factors present a bullish outlook for Solana’s second-largest meme coin. However, Bonk is far from the only Solana play that presents immense potential.
Another meme coin to captivate leading analysts is Sealana, a new presale that has raised $140K in its opening day and is backed to 10x.
New Meme Coin to Watch: Will Sealana 10X Like Analysts Say?
Sealana, a new seal-themed meme coin that has swapped his sea-dwelling lifestyle for a pursuit of Lambos and riches, has risen to prominence and become one of the market’s hottest prospects.
Once a trim aquatic mammal, Sealana now lives in his mom’s basement, grinding on the meme coin charts and living off chips and tuna, hoping one day to make it big.
$SEAL is currently undergoing a presale and has had no shortage of interest on its opening day. In addition to raising over $140K, top analysts have rallied behind the project, and rumors have surfaced that the Slerf team is the project’s creator.
In a recent YouTube video, the prestigious 99Bitcoins channel speculated to its 700K followers that Sealana is “set to explode.” Meanwhile, renowned low-cap gem hunter Jacob Bury dubbed Sealana as a “new 10x potential crypto.”
While there’s no doubt that the project’s play on degen meme coin and American culture presents viral potential, analyst support and rumours that the decorated Slerf team launched the project make it one of the most promising projects to watch.
There is still time to buy Sealana at presale, but with no predetermined hard cap, potential buyers should act quickly.
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