The meme coin market is witnessing a massive rally, highlighted by the recent impressive rallies of Gorilla (GORILLA) and Bonk (BONK).
BONK has been among the top crypto performers, gaining over 9200% in the past two months. On the other hand, since its recent listing on MEXC on 4 December, Gorilla saw an over 220% increase in the past few weeks.
These tokens have seen massive community support that drives their growth and popularity. Over the past day, both the tokens have led CoinMarketcap’s trending list.
BONK and Gorilla Pump Amid New Listings
Binance’s recent announcement of listing new spot trading pairs for BONK is a key development fueled by rising user interest.
The token’s subsequent listing on major exchanges like KuCoin and Coinbase has further helped increase its market presence, contributing to its recent positive performance on price charts.
The token was up by nearly 89.5% on 14 December after bouncing back from its immediate price support level at $0.000013.
Interestingly, BONK’s popularity is also affecting sales of the Solana phone. Raj Gokal, a co-founder of Solana, notes that phone sales are up, partly because buyers are offered BONK tokens.
Looking at BONK’s daily price movements, it’s been steadily climbing, forming what’s called an “ascending channel.” This pattern shows that a lot of people are buying and keeping the price going up.
However, in the world of trading, it’s known that such trends can eventually reverse because market prices often move in cycles.
Any change in this upward trend should be watched closely, as it could mean that BONK’s price might start moving differently soon.
Jacob Crypto Bury, a well-known expert, predicts that BONK’s price could rise to $0.00004. Similarly, analysis platforms like CoinCodex are optimistic, suggesting a potential increase to $0.00006.
These predictions, while speculative, reflect a general optimism in the market and a growing interest in BONK.
On the other hand, Gorilla has also seen a massive rise in popularity, particularly in November, when it appeared multiple times at the top of CoinMarketCap’s trending list. This surge in interest is largely due to recent listings on several prominent exchanges.
Gate.io, a leading exchange, recently announced it would list Gorilla. This addition makes it the fourth centralized exchange (CEX) to support Gorilla, following MEXC, BitMart, and ExMarkets.
The token’s performance has been impressive, especially after its MEXC listing. Chart patterns show consistently higher highs and higher lows, resulting in a “rising wedge” pattern.
This trend suggests a strong buying interest, showing the community’s bullish outlook on Gorilla. But it’s crucial to note that while the rising wedge indicates upward movement, it also hints at a potential downturn if the pattern breaks out.
As the market excitement for BONK and Gorilla wane after the listing hype, the newly announced meme coin Sponge V2 is rapidly gaining investor interest following its launch announcement on December 18th.
Could Sponge V2 Outperform Bonk and Gorilla? Upgraded Version Of Sponge Token Launches With Staking Rewards
Sponge V2 is a hot new upgrade of the popular Sponge meme coin with more utility and high staking rewards. This new version offers a Stake-to-Bridge mechanism, allowing seamless transitioning from Sponge V1 to V2.
This model allows existing $SPONGE holders to convert their V1 tokens into Sponge V2 tokens. Staking V1 tokens on the new contract will lock them and yield equal V2 tokens.
Also, this mechanism offers a 40% minimum Annual Percentage Yield (APY) over four years, making it an attractive option for long-term investors.
SPONGEV1’s recent price drop seems mainly driven by holders selling in panic, worried about its future relevance.
But the current low price actually offers a good chance to buy in. The upgrade to Sponge V2 looks promising as it brings new features like a Play-to-Earn (P2E) game, Sponge Racer, which could increase its utility in the market.
Participating in this game allows players to use their V2 tokens and potentially earn additional tokens through gameplay.
With a total supply of 150 billion, Sponge V2 allocates a major portion for staking rewards and the P2E ecosystem.
With a strong community base of over 30,000 members, Sponge V2 plans to leverage this for wider adoption.
The project has plans to list on Tier-1 exchanges like Binance and OKX to increase visibility and trading volume.
Interested users can follow Sponge V2 on social media platforms like X (Twitter) to keep up with these developments and join its Telegram channel.
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