PONKE – Can this Solana-based memecoin hit a market cap of $1 billion next?

PONKE’s market bulls did well in October, delivering the most-significant price recovery since its July-August pullback
PONKE might be the next Solana-based memecoin to hit a jackpot

As a seasoned crypto investor with a knack for spotting promising projects, I’ve been closely monitoring the meteoric rise of Solana-based PONKE. Having witnessed the incredible journey of Dogecoin and Shiba Inu, I can confidently say that PONKE might just be the next memecoin to hit the jackpot.

2024’s rapidly expanding memecoin, PONKE built on Solana, ended October with a remarkable 80% surge. As anticipated, this strong showing has rekindled optimism about the coin reaching a market capitalization of $1 billion.

As a proud investor in PONKE, I’m thrilled to be part of its remarkable journey. This playful monkey-themed memecoin has managed to establish itself among the top performers in Solana’s meme coin landscape of 2024. From its humble beginnings, it has surged an astounding 8,500% from its initial trading price floor. The excitement surrounding PONKE continues to grow!

In December 2023, PONKE was trading at a low of $0.0093, but it remarkably surged in a parabolic manner. This memecoin continued to climb until June when it hit an impressive peak of $0.71. This extraordinary performance underscored robust demand and lasting bullish expectations within the PONKE community, which appears to have been substantially rewarding.

PONKE – Can this Solana-based memecoin hit a market cap of $1 billion next?

Since that time, significant withdrawals of liquidity have occurred, resulting in a 70% drop from its all-time high (ATH). Given that the price began its initial parabolic surge, this decline was predictable. The low point for this retracement was reached on September 6.

Since then, PONKE has been on a path to recovery, and its October performance fits well into this trend. Currently, the value of the memecoin stands at approximately $0.512 due to an impressive 91% surge from its lowest point in October.

Regarding its recent strong performance, it’s worth noting that its Relative Strength Index (RSI) climbed to 66.41 – an indication that while it’s not yet considered overbought, it’s approaching a level where further gains might be limited. Looking at its price chart, the next significant resistance point is anticipated to be around $0.66.

How close is PONKE to a $1 billion marketcap?

As an analyst, I’ve recently observed an exciting development from the creators of a widely recognized memecoin. They’ve unveiled a new decentralized exchange, christened PonkeSwap. Notably, the quantity of PONKE tokens staked to ensure liquidity within this DEX has surged significantly, reaching a staggering 16.04 million tokens.

It’s important to note that approximately 2.88% of the current supply of the memecoin was wagered in this instance. Though this may not cause a significant increase in the floor price, it emphasizes the underlying positivity driving PONKE’s recent market movements.

The positive outlook and emphasis on future profits have, up until now, boosted the growth of PONKE. Bouncing back quickly from its low points in September indicates that these positive feelings persist. Therefore, it’s predicted that the market capitalization of PONKE will keep climbing higher.

At the moment of reporting, PONKE boasted a market capitalization of approximately $278 million – more than twice its smallest market cap recorded in September. This significant increase suggests that PONKE may be poised to capitalize on the anticipated return of liquidity into the market over the coming months.

2024-11-01 11:03

How close is PONKE to a $1 billion marketcap?

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