In the latest DEX market pump, a new Solana memecoin called BONKITA has experienced an incredible price surge of +22,000%. This has led FOMO traders to scramble in search of the next big play in the meme coin market. BONKITA is a spin-off token that gained quick traction due to a high influx of initial volume and its status as the 6th hottest coin on DEXtools. After an astonishing start, BONKITA experienced a retracement and is currently trading at a market price of $0.0006379, representing a 24-hour change of +23,684%.
BONKITA made its debut at 1PM UTC on January 4th, generating immediate attention as the meme coin skyrocketed +21,000% within the first 4 hours. While experiencing a brief retracement, BONKITA established lower support at $0.0004880, marking a critical level after a -74% retracement from its all-time high at $0.001717. However, with this well-defended support at $0.0004880, the possibility of a second bounce is not unlikely.
Looking closer at the buy-pressure over the past hour, it appears that BONKITA bulls are still firmly in control of the price action, with approximately 50.9% of transactions representing buys. Additionally, there is significant growth potential in the charts, as the market cap of BONKITA currently stands at $762k. It is important to note that breakout Solana meme coins typically reach $5m market caps, leaving room for a potential 6.5x move in the chart for late-entrants. However, as price action stalls, many investors are now seeking alternative lucrative opportunities.
Among the potential alternatives to consider is Sponge V2, the latest iteration of the renowned Sponge ($SPONGE) meme coin. Sponge V1 had a remarkable journey, reaching nearly $100 million in market cap and accumulating over 13,000 holders. Now, Sponge V2 comes with promising innovations and opportunities for investors.
One of the key features introduced in Sponge V2 is its Play-to-Earn (P2E) utility, which enhances the ecosystem. By staking V1 tokens, users can earn V2 tokens and engage in the upcoming P2E game to earn additional $SPONGEV2 tokens. The P2E game will offer both free and paid versions to provide enhanced gaming and earning experiences for the community.
Sponge V2 also offers exclusive access and bonus rewards for token holders. By staking $SPONGE tokens, users can earn $SPONGEV2 tokens exclusively. Additionally, buying and staking $SPONGE tokens provide special $SPONGEV2 bonuses. Moreover, staked $SPONGE tokens yield passive rewards with a minimum Annual Percentage Yield (APY) of 40%.
Sponge V2 has set ambitious goals for its roadmap, aiming to reach 10,000 holders, secure Tier 1 CEX listings, and achieve a $100 million market cap. The launch stages include the development of the Sponge game and the claim and listing process for Sponge V2. It is important to highlight that Sponge V2 is not simply a sequel to its predecessor, but rather a reinvention with a strong focus on utility and community engagement. The integration of P2E and exclusive staking mechanisms make Sponge V2 stand out in the meme coin domain.
To stay updated on Sponge V2’s journey and witness its growth in the crypto world, it is recommended to follow the project through its social channels. However, it is crucial to acknowledge the high-risk nature of the crypto asset class. This article is provided for informational purposes only and does not constitute investment advice.
The recent surge of BONKITA has sparked the interest of FOMO traders in search of the next big meme coin. While BONKITA experienced a retracement, it still holds potential for further growth. However, alternative opportunities like Sponge V2, with its P2E utility and focus on community engagement, are also gaining attention. As always, it is important to exercise caution and conduct thorough research when considering investments in the volatile world of cryptocurrency.