PONKE memecoin’s social dominance surge: Enough to boost prices?

PONKE

As a seasoned crypto investor with a knack for spotting promising opportunities and a penchant for memecoins, I find myself intrigued by PONKE [PONKE]. Despite its recent downturn, the data suggests that we might be on the cusp of another bull run.

Among the more recent meme-based cryptocurrencies, PONKE (PONKE) has shown remarkable growth this year. Yet, following its peak in July, there was a significant reversal or dip in its performance.

Currently, recent findings indicate that bears (those who anticipate a market drop) might be losing momentum, potentially opening up opportunities for further growth.

For about eight weeks, PONKE has been gradually decreasing from its highest point. As a result, focus has moved away from it.

On the other hand, there could be another try for the memecoin given its current favorable price drop.

Based on insights from LunarCrush Social Intelligence, it appears that the memecoin PONKE has witnessed a significant increase in its social influence. This trend indicates that the coin might be regaining popularity among users.

The uptick in PONKE’s social dominance might be a pre-cursor to robust liquidity flows.

The observation was also timely considering that the memecoin recently demonstrated signs of a relief from the bearish assault that has prevailed from its ATH.

In June, PONKE reached an all-time high of $0.715 following a staggering surge of more than 12,000% from its lowest price in July. During that period, it was trading at around $0.269, representing a significant reduction or discount of approximately 62% compared to its all-time peak (ATH).

The memecoin’s sell pressure appears to have leveled out earlier this month.

Is now a good time to reaccumulate PONKE?

Considering its proven popularity at existing prices (which have even been lower), PONKE‘s reduced cost could make for a tempting starting point.

Many may thus consider this as a healthy zone to get back in.

Interpreting that social influence is increasing while prices remain stable could equally be viewed as a positive or bullish sign.

Moreover, the Money Flow indicator suggested a return of liquidity towards the memecoin.

However, just how high might PONKE potentially climb given strong market interest? It could effortlessly revisit its past all-time high and potentially surpass it further. This scenario would represent a significant increase of over 165% from its current value at the moment.

Based on its significant surge within half a year, PONKE might become one of the top-gaining meme coins during the upcoming market uptrend.

There’s a good chance it could become part of an expanding catalog of meme-based cryptocurrencies, with market values surpassing $1 billion each. This leads us to our next significant forecast.

Read PONKE’s [PONKE] Price Prediction 2024–2025

If PONKE reaches a market capitalization of $1 billion on a fully diluted basis, its price is expected to be approximately $1.8. This represents a significant increase of 569% compared to its current pricing level.

PONKE’s marketcap was just over $150.4 million at press time.

2024-09-18 03:35

Is now a good time to reaccumulate PONKE?

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