Pengu, Bonk Lead High Meme Coin Gainers as Some Analysts Suppose Solaxy and Flockerz are Subsequent to Pump

It’s been a wild week within the crypto market, with Bitcoin grabbing headlines because it soared to a brand new all-time excessive of $108,268 earlier than crashing again beneath $100k. In the meantime, meme cash have adopted swimsuit, with majors like Dogecoin climbing over $0.41 earlier than falling to $0.325 in the present day.

Behind the volatility in these headline-grabbing tokens, meme cash have been on a tear. Essentially the most explosive positive aspects have come from newer tokens like $PENGU and Solana meme cash like Bonk, each of which have been working their method up the meme coin charts.

In the meantime, meme coin ICOs like Flockerz and Solaxy are seeing rising momentum.

Let’s take a more in-depth take a look at all of the motion within the meme coin market as we head into the ultimate stretch of 2024.

Meme Coin Sector Marches Upward, Led by $PENGU and $BONK

The meme coin sector spent a lot of early December extending its profitable streak, including greater than $17 billion to its complete market cap between December 1 and December 8. The sector’s valuation has fallen to $96 billion in latest days, principally pushed by Dogecoin’s losses.

However look past Dogecoin, and the meme coin market gives a really completely different image. Up to now 24 hours alone, Pepe is up 11.7%, Shiba Inu is up 8.4%, and Dogwifhat is up 5.3%.

The most important winners of this upward pattern have been tokens like Pudgy Penguins ($PENGU) and Bonk, that are up 11.2% and 12.3%, respectively, since yesterday.

Bonk’s positive aspects helped it overtake $WIF to turn into the highest Solana meme coin by market cap—a cat-and-mouse recreation the 2 tokens have performed for months, and which Bonk appears more and more prone to win.

Plus, technical evaluation signifies there might be extra positive aspects for $BONK simply across the nook. Utilizing Elliott Wave evaluation, @ManofBitcoin on X acknowledged a possible pump to $0.000118 may come when Bonk breaks out of its present pattern.

$BONK: The worth has shaped a wick to the draw back however the every day candle closed above the pattern line. So wave-4 continues to be legitimate. pic.twitter.com/3bz8iZ7EFX

— Man of Bitcoin (@Manofbitcoin) December 20, 2024

The positive aspects in $PENGU are particularly noteworthy as a result of they signify continued momentum for the reason that token listed on Binance on December 17. $PENGU is up almost 500% for the reason that itemizing and has a market cap of $1.8 billion, making it the Sixth-largest meme coin general inside simply days of its launch.

Meme coin merchants and analysts have taken word of an rising pattern for which $PENGU is simply the newest information level: Binance has the facility to create winners out of rising tokens within the meme coin market just by itemizing them.

Determining which tokens the trade will record subsequent is now among the finest methods to seek out income within the meme coin market.

Some Analysts Eye Rising Meme Cash $SOLX and $FLOCK for Large Positive aspects

Whereas it’s unimaginable to know which cash Binance’s itemizing groups have their eyes on subsequent, quite a few analysts are watching two rising meme cash that they suppose might be destined for the trade.

The primary is Solaxy ($SOLX), a brand new mission that plans to construct the primary Layer-2 scaling answer for Solana. Whereas the $SOLX token is primarily a utility token, it makes a nod to the meme coin market by utilizing a browsing, mustachioed Pepe as its mascot.

The $SOLX token presale is on now and has raised greater than $4 million in lower than per week, elevating expectations that this mission might be big. A few analysts are definitely enthusiastic about Solaxy due to its potential to learn from the meme coin supercycle.

The Solana blockchain already struggles from congestion points, and a surge in meme coin buying and selling might make these issues worse. Solaxy offers an answer for meme coin merchants by providing a quicker and cheaper Solana-based community for executions.

One other mission on crypto some analysts’ radar is Flockerz ($FLOCK), a viral new meme coin that’s pioneering a vote-to-earn mechanism to have interaction and reward its group.

Below the vote-to-earn scheme, conventional staking rewards are thrown out the window. As a substitute, proposals for brand spanking new growth, partnerships, and the best way to use the $FLOCK treasury are voted on by the Flockerz group. Each time traders vote, they obtain $FLOCK tokens as a reward.

This method has the advantage of bringing the group collectively to construct a extra vibrant mission whereas guaranteeing that traders get an actual say within the mission’s future via their $FLOCK tokens. Analysts like ClayBro are bullish on this method, declaring Flockerz a ‘high meme coin to purchase now.’

$FLOCK can be successful with traders, who’ve poured greater than $7 million into the Flockerz token presale to this point. With that type of backing, it’s seemingly that Binance may carefully be watching this presale and will put its weight on the scales with a list after the $FLOCK token launches.

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