BONK SURGES 29%: WILL SOLANA MEME COIN FOLLOW?

With the broader crypto market showing signs of bullishness, Bonk has demonstrated exceptional performance, recording a 7% increase today and a notable 29% surge over the past week.

However, with a market capitalization exceeding $800 million, traders are actively scouting for the next Solana meme coin poised for a surge. One promising contender in this regard is Smog, which experienced a staggering 1,400% surge within its initial hours of trading.

Bonk’s recent uptick of 29% has been attributed to the momentum gathered by Solana, which has recently surpassed BNB to become the fourth-largest cryptocurrency by market cap. Solana’s impressive surge has translated to a 19% increase in price over the week, benefiting Bonk as it is native to the Solana blockchain.

The surge in demand for SOL has positively impacted Bonk’s price, pushing it above the 50-day EMA. Despite a minor dip following the announcement of higher-than-expected US CPI figures for January, Bonk’s long-term price predictions remain bullish.

According to analysis by The Trading Wizard, Bonk is poised for a significant move, with a potential target price of $0.000033. Meanwhile, analyst Babyblockchain has identified a double bottom pattern formation, anticipating a move towards $0.000017.

However, with Bonk’s market capitalization already exceeding $800 million, traders are actively seeking alternatives with higher upside potential. Smog, a multi-chain meme coin that experienced a remarkable 1,400% surge upon its launch, has emerged as a hot alternative.

Despite being launched on February 7, Smog has quickly gained traction, boasting a $24 million market capitalization. This rapid growth can be attributed to its generous airdrop program and multi-chain functionality.

With 35% of its total supply allocated to the airdrop, Smog has garnered significant community interest. Additionally, participants can stake their tokens to earn passive rewards, with a staking APY of 42%. This has further incentivized engagement with the project, with over two million Smog tokens already staked on the Ethereum network.

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