Honk Price Prediction: Solana Meme Coin HONK Nosedives 35%, But Experts Say This Meme Coin May 100X As It Migrates To Polygon

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The Honk value plunged 35% within the final 24 hours to commerce at $0.004224 as of 05:59 a.m. EST on buying and selling quantity that dropped 19% to $5 million.

The sudden value drop is a blow to those that felt the brand new Solana meme coin HONK might presumably dethrone Bonk as its high performer.

The Honk neighborhood stays assured that it could actually make a comeback and attain its earlier all-time excessive market cap of $25 million.

$Honk is trying good. Ath at 25m. Now sitting at 5m. Nonetheless lively and the staff is admittedly good. Dont fade the goosecoin on #Solana pic.twitter.com/YKBMoNeoNt

— Golden Goose $HONK (@Dobaggie) February 2, 2024

But, the query stays: can it nonetheless attain Bonk’s stage of success?

The Honk Worth Trades Inside A Bullish Pennant Sample

Honk Price Chart Analysis Source: Geckoterminal.com — HONKUSD Chart Evaluation Supply: Geckoterminal.com

The Honk Worth has steadily elevated from the $0.00183 assist stage in direction of the $0.0274 resistance. Nonetheless, bears appear to have taken management of the worth at $0.0217, exerting strain and inflicting the decline to $0.004224.

Regardless of the decline, the worth appears to be buying and selling throughout the bullish pennant, which indicators a probable bullish development reversal for merchants.

The value has additionally dipped under the 50-day Easy Transferring Common (SMA), coinciding with the downtrend strain.

The Relative Energy Index (RSI) is on a downtrend under the 50-midline stage at 28, indicating intense promoting strain for the Honk value.

Honk Worth Prediction: Bulls Wanting For A Assist

The Honk value is at the moment on a downtrend however continues to be buying and selling throughout the boundaries of the pennant.

If the bears proceed to exert extra strain, the worth could drop to the $0.002 assist stage, forming a double backside. The double backside sample might sign a possible bullish development reversal as merchants look to this sample so as to add extra purchase positions.

Nonetheless, if the bulls might change the development and achieve management, they may drive the Honk value to $0.013, coinciding with the higher boundary of the pennant.

As merchants seek for an entry into Honk, traders looking for promising different cryptocurrencies with the potential for substantial returns could need to discover Sponge V2.

Sponge V2 Set To Launch On Polygon Community, Greatest Crypto To Purchase

Did you miss Sponge V1’s 100X surge final 12 months? If that’s the case, there’s nonetheless one other alternative so that you can amass such returns in Sponge V2, which is ready to launch quickly on main exchanges.

🚨 Solely 3 days left! 🚨

Hurry and stake your $SPONGE tokens now earlier than #SPONGE V1 is discontinued!

Withdraw your SPONGE V1 tokens from exchanges and stake them by means of our web site earlier than the fifth of February to have the ability to declare #SPONGEV2! 🧽#MemeCoin #Crypto #Web3 #Staking pic.twitter.com/uMWnJ7JPY9

— $SPONGE (@spongeoneth) February 2, 2024

Sponge V2 is aiming to emulate the success of Sponge V1 and much more. Sponge V1 amassed over 13,000 holders and bought listed on greater than ten main exchanges, together with Toobit, LBank, and BitMart.

Its market capitalization hit $100 million whereas attracting main gamers within the trade like Tron founder Justin Solar, who has proven curiosity in buying and selling meme cash and acquired $SPONGE that’s now value about $90,000.

I’ve determined to start actively buying and selling meme cash and promising tasks by means of my public deal with. Please word, I’ll personally bear all potential losses from these trades, and any income made will likely be donated completely to charity.

— H.E. Justin Solar 孙宇晨 (@justinsuntron) Could 11, 2023

Moreover, the Sponge staff has introduced the discontinuation of Sponge V1, and can migrate it to Sponge V2 on Polygon.

🚨 Necessary venture replace! 🚨

As a result of a malicious assault on the Sponge V1 token, we’ll be transferring all holders to Sponge V2 on the fifth of February at 11:00 PM UTC.

Please bear in mind the $SPONGE V1 will likely be discontinued.

We strongly advise all holders to withdraw their tokens from… pic.twitter.com/itZelxAL9V

— $SPONGE (@spongeoneth) January 31, 2024

All $SPONGE holders are actually being moved to the safer, environment friendly, and cheaper strategy to transact $SPONGE V2 on the Polygon community. This shift will likely be a giant enhance to the launch of Sponge V2.

🚨 Solely 3 days left! 🚨

Hurry and stake your $SPONGE tokens now earlier than #SPONGE V1 is discontinued!

Withdraw your SPONGE V1 tokens from exchanges and stake them by means of our web site earlier than the fifth of February to have the ability to declare #SPONGEV2! 🧽#MemeCoin #Crypto #Web3 #Staking pic.twitter.com/uMWnJ7JPY9

— $SPONGE (@spongeoneth) February 2, 2024

Purchase Sponge Now, Take part In Their Video games And Get Rewarded

SpongeV2 brings about new options, with play-to-earn (P2E) gaming because the excellent one, geared toward attracting new traders and gamers.

The staff can also be anticipating the launch of “Sponge Racer,” a sport that can function each a free and paid model.

You can too stake and bridge your $SPONGE tokens to earn $SPONGEV2, with an annual share yield (APY) of 237%. At the moment, over 6 billion $SPONGE tokens have already been staked and bridged.

YouTuber Alessandro De Crypto is optimistic in regards to the progress of the venture. He invested in it himself and believes that Sponge V2 is poised to copy the successes of its predecessor.

To hitch, go to the official Sponge V2 web site and hyperlink your digital pockets to swap your ETH or USDT for V2 tokens. You can too purchase immediately utilizing your financial institution card.