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Joel Frank
Author
Joel Frank
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Why Trust Cryptonews
As Bonk trading volumes surge back above $100 million, per Yahoo Finance data, the Bonk price could be set to explode.
BONK was last trading just above the $0.000017 level, with trading volumes hitting their highest level since last Friday.
Since mid-July, BONK has been stuck in a bearish trend.
But bulls are hoping that if the Bonk price can this week bust above its recent downtrend, it can explode higher.
Indeed, a breakout above the $0.000019 area would set the stage for a rapid rise back to the mid-$0.000030s, assuming BONK could also burst above its 50 and 200DMAs in the $0.000023s.
But that’s a big if. For now, the BONK price remains stuck in a bearish trend.
Its no surprise then that, amid the uncertainty, BONK holders are looking for alternatives with a better probability of near-term gains.
One new Bonk alternative that analysts at Cryptonews.com think has great potential is PlayDoge (PLAY).
PlayDoge is a new play-to-earn (P2E) meme coin game, styled after the classic Tamagotchi.
PlayDoge is currently available in presale, and investors have already poured in over to $6.0 million.
And investor FOMO is growing, with the PlayDoge presale scheduled to end in just under a week.
Analysts at Cryptonews.com, meanwhile, have ranked it as one of their best meme coins and the best overall presales to buy.
Bonk Price Could Explode, But PlayDoge (PLAY) Could Be Bigger
The Bonk price could be set to explode well over 2x to return to yearly highs in the months ahead.
But PlayDoge could deliver much bigger gains, or potentially 10x or more. Why?
Well, the meme coin and the play-to-earn crypto gaming sectors are expected to experience massive growth in the years ahead.
That means projects that intelligently blend these two sectors, like PlayDoge, have a great shot of gaining significant traction.
So how exactly does the PlayDoge P2E game work?
PlayDoge players will feed, train, and play various arcade-style games with their own Doges.
These digital dog companions will live on the blockchain as NFTs.
As they navigate through a whirlwind of retro 2D games, players will earn PLAY as they go.
Indeed, PLAY is the utility-infused crypto at the heart of the PlayDoge ecosystem.
At the current presale price of $0.00531, PLAY is valued at a modest $50 million.
But this Bonk alternative, if it can gain traction and users, could become a billion-dollar crypto.
PLAY Is Also A Passive Income Gem
Major meme coins like Bonk are likely to remain leaders in the meme coin space. That’s because they have the number one ingredient for a successful meme coin – a large and committed community.
But meme coins like Bonk lack real world utility. In the long-run, that could cap growth in the Bonk price.
Meme coins that boast real world utility could become bigger in the long-run if their utility results in long-term, organic growth in demand.
Simply put, more utility means a better chance of adoption.
PLAY thus stands out as a utility packed meme coin, and could become a major P2E leader.
But PLAY is also gaining a lot of traction in DeFi circles thanks to whopping staking yields on offer.
Presale investors who stake their presale bag will benefit from a yield of 75% APY.
12% of the total 9.4 billion token supply is allocated to staking rewards.
This should help encourage HOLDing and reduce sell pressure when PLAY launches on DEXs.
Crypto users can buy PLAY with BNB, ETH, or USDT.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
