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The Bonk price continued to rally, surging more than 90% over the past 24 hours to trade at $0.00002828 as of 9:10 a.m. EST amid a FOMO frenzy around the dog-inspired altcoin.
New Airdrop Linked To The Solana Phone Is Worth More Than The Phone
The Solana phone, which was unable to garner much interest initially, is now turning into a sellout. BONK is the reason for this intensified interest, as arbitrage traders are chasing a 30 million BONK airdrop. The airdrop is available to every owner of the Saga phone.
With the current Bonk price, the airdrop is paying out around $700 for the purchase of a phone that costs $599. “Saga sales have >10x’d in the past 48 hours, and are now on track to sell out before the new year,” said Solana co-founder Raj Gokal in an X post.
need to raise the price, otherwise we will get sybils
— toly 🇺🇸 (@aeyakovenko) December 14, 2023
The Bonk Price Is At A Critical Juncture
Daily chart for BONK/USDT (Source: TradingView)
The Bonk price will need to overcome a major obstacle in the next 48 hours before its impressive rally can continue. In the last 24 hours, the meme coin attempted to break out above a medium-term positive price channel.
This attempt, however, resulted in the altcoin getting rejected by the upper level of the ascending price channel.
If the Bonk price manages to close a daily candle above the upper barrier of the channel at $0.0000346810, then it will have a clear path to continue climbing in the next few days.
Failure to close a trading session above this threshold could lead to a temporary bull back in price. In this scenario, the Bonk price may retrace to the immediate support level at $0.0000149068.
This support level is a key price point that traders and investors will want to keep an eye on, as it is confluent with the lower level of the aforementioned price channel as well.
A break below this point could put Bonk at risk of falling down to $0.0000089940 in the subsequent few days. In an extremely bearish scenario, the meme coin could retest the $0.0000046040 support level in the short term as well.
Bonk Price: Technicals Show Bullish Momentum
Technical indicators for BONK are flagging very bullish. The Moving Average Convergence Divergence (MACD) suggests that the Bonk price may continue to rise. In addition to this, the Relative Strength Index (RSI) signaled that bulls have more power than sellers.
This is evident by the RSI line being positioned above the RSI Simple Moving Average (SMA) line.
The MACD line is also breaking away above the MACD Signal line. This is generally indicative of a positive trend growing stronger. Despite this, a brief pull back may be in the cards for the Bonk price as the RSI indicator shows that the meme coin is overbought.
While BONK attempts to rise beyond the positive price channel, Meme Kombat is on the verge of selling out in its presale as whales snap up the token before it’s too late.
Whale Nudges This Presale Closer To Its Fundraising Target
Some whale just bought $200k worth of $MK 🤯🤯🤯 This comes after many many buys into our presale.
That pushes us past $3.3 million raised⚔️ pic.twitter.com/gOAn09tpkA
— Meme Kombat (@Meme_Kombat) December 15, 2023
Meme Kombat has raised more than $3.475 million through its presale. This is after a large wallet bought $200K worth of the project’s native token in the last few hours. As a result of this substantial purchase, Meme Kombat’s presale is almost sold out.
Meme Kombat shows signs of becoming the next big project in the meme coin space. Not only does it come with an innovative gaming platform, it also offers early-stage investors the opportunity to take part in a lucrative staking program.
With an annual percentage yield of 276%, savvy investors are pouncing on the opportunity to earn handsome passive rewards within the Meme Kombat ecosystem.
Meme Kombat Could 10X Soon
YouTube crypto analysts speculate that Meme Kombat could generate 10X returns for early-stage investors. Some analysts have gone as far as to call it the next Pepe.
With a token supply of 120,000,000, thirty percent of Meme Kombat’s tokens will be allocated towards its lucrative staking program and battle rewards. Ten percent of the tokens will be used for decentralized exchange liquidity and fifty percent of the total supply has been set aside for the project’s presale.
Given the fact that the project offers early investors attractive rewards and the project’s battleground gives it a level of utility far greater than that of most meme coins, it is no wonder investors are rushing to buy into this project.
As the meme coin space continues to mature, Meme Kombat not only has the potential to generate 10X returns, but also could become the next best meme-inspired project.
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