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

The Honk worth 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 worth drop is a blow to those that felt the brand new Solana meme coin HONK may presumably dethrone Bonk as its prime performer. 

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

$Honk is wanting good. Ath at 25m. Now sitting at 5m. Nonetheless energetic and the staff is absolutely 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 degree of success?

The Honk Worth Trades Inside A Bullish Pennant Sample

The Honk Worth has regularly elevated from the $0.00183 assist degree in the direction of the $0.0274 resistance. Nonetheless, bears appear to have taken management of the value at $0.0217, exerting stress and inflicting the decline to $0.004224.

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

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

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

Honk Worth Prediction: Bulls Wanting For A Help 

The Honk worth is presently on a downtrend however remains to be buying and selling inside the boundaries of the pennant.

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

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

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

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

Did you miss Sponge V1’s 100X surge final 12 months? In that case, there’s nonetheless one other alternative so that you can amass such returns in Sponge V2, which is about 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 via 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 received 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 purchased $SPONGE that’s now price about $90,000. 

I’ve determined to start actively buying and selling meme cash and promising tasks via my public handle. Please notice, I’ll personally bear all potential losses from these trades, and any income made can be donated fully to charity.

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

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

🚨 Vital mission 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 can be discontinued.

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

— $SPONGE (@spongeoneth) January 31, 2024

All $SPONGE holders at the moment are being moved to the safer, environment friendly, and cheaper solution to transact $SPONGE V2 on the Polygon community. This shift can 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 via 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, aimed toward attracting new traders and gamers.

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

You may also stake and bridge your $SPONGE tokens to earn $SPONGEV2, with an annual proportion yield (APY) of 237%. At present, over 6 billion $SPONGE tokens have already been staked and bridged.

YouTuber Alessandro De Crypto is optimistic in regards to the progress of the mission. 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 may also purchase straight utilizing your financial institution card.

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