Bitcoin

Honk Price Prediction: HONK Plunges 37% As Analysts Say New Solana Meme Coin Smog Could Outperform BONK, FIRE, MYRO And WIF

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The Honk price has plunged 37% in the last 24 hours to trade at $0.008509 as of 4:44 a.m. EST on trading volume that plummeted 48% to $1.5 million.

Within the vibrant Solana ecosystem, Honk has emerged as a formidable competitor to Bonk, drawing inspiration from the beloved Untitled Goose Game meme, known for its playful and mischievous goose character.

Despite the recent downturn, Honk has showcased remarkable resilience, boasting an impressive 81.10% price surge over the last week. 

This surge surpasses the performance of comparable cryptocurrencies within the Solana ecosystem, which have collectively seen a 16.2% increase in value.

Honk Price Bulls Anticipate A Bullish Trend Reversal

Honk Price Chart Analysis. Source: Tradingview.com
HONKUSDT Chart Analysis. Source: Tradingview.com

HONK price shows the bulls propelling the price upwards, reaching $0.03141 resistance that allowed the bears to force the price to decline.

However, the price signals a bullish trend reversal at $0.00808 within the formed falling wedge pattern, which traders look at as a signal for a bullish trend reversal. 

If the bullish momentum sustains, it could enable the bulls to fly the price high above the upper boundary of the wedge, confirming the anticipated bull rally.

However, the bulls must overcome the 50-day simple moving average hurdles, which stand as immediate resistance for the Honk price.

The relative strength index (RSI) trades upwards, rebounding from the oversold 30 level upwards at 36, approaching the 50 midline level. A further push in the bullish momentum could see the RSI surge to the 70 overbought level.

Honk Price Prediction

Honk price indicates a reversal to the bullish side with the formation of the falling wedge pattern. With this, the bulls may drive the price higher, targeting $0.0234. However, bears could continue the downtrend within the falling wedge.

Meanwhile, the surge of meme coins on the Solana blockchain has attracted the interest of investors worldwide, promising lucrative returns on investment. SMOG is one of them, and it has been surging remarkably since its launch on the Jup Dex this week.  

Everyone’s Talking About Jupiter And The JUP Airdrop – But Is The $SMOG Airdrop The Next Big Crypto Giveaway To Watch? 

The SMOG Token has rapidly secured new capital since its launch on the JUP exchange, quickly gaining popularity and achieving remarkable growth. 

Analysts suggest that SMOG has the potential to surpass other meme coins like BONK, FIRE, MYRO, and WIF. The price of SMOG has surged by an impressive 212% in the past 24 hours, reaching a trading value of $0.0588.

Don’t Miss Out On The Biggest Airdrop Ever, Buy SMOG Now

After witnessing Jupiter’s monumental $700 million airdrop, which resulted in significant returns for investors, the $SMOG token is now poised to offer an even larger and more enticing airdrop opportunity.

Describing it as the “largest airdrop ever,” the SMOG team has set aside 35% of the total 1.4 billion token supply. 

Additionally, 50% of the total supply has been allocated for marketing purposes, with 10% reserved for future exchange listings and 5% designated for liquidity upon launch.

Just holding $SMOG tokens means you’re eligible for the upcoming airdrop. Additionally, you qualify for a portion of a community bounty generated by the campaign, further incentivizing you to hold onto your tokens.

smog massive airdrop

Jacob Bury, a cryptocurrency analyst and YouTuber, has featured SMOG in one of his videos, suggesting that the token can yield a 100X return on investment.

To qualify for the upcoming historic airdrop, you can purchase the SMOG token through its official website.

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