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Joel Frank
Author
Joel Frank
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Why Trust Cryptonews
Its been a very bullish week for Bonk (BONK), with the crypto having pumping up an impressive 16.4% according to TradingView.
Bonk, one of the leading meme coins on Solana and the fifth ranked meme coin by market cap, is now up 30% versus its earlier monthly lows.
Its latest push higher comes amid surging trading volumes. Per Yahoo Finance, $223 million in BONK changed hands across major exchanges on the 26th of September.
That’s the most in trading volume on any one single day since the 6th of August, and the day isn’t even over yet.
Bonk’s rally from the September lows comes in tandem with a rise seen across the crypto space.
The Fed initiated an interest rate cutting cycle last week and that, combined with declining fears of a near-term US recession, has spurred a pick-up in risk appetite.
A new rate cutting cycle should significantly improve liquidity conditions in global markets, a positive for risk assets.
And some are now predicting the return of a new meme season.
Bonk, thanks to its status as a leading Solana meme coin, could be a major beneficiary.
Here’s where it could be headed next.
BONK – Where Is It Going Next?
A new meme season may be coming, but the BONK chat isn’t yet screaming bullish.
On the contrary, BONK remains stuck well below an uptrend it broke below over the summer.
The bears might be tempted to fade any short-term recovery to the $0.0000028 area.
That said, traders will remember the meme season of late 2023, which lasted from October to December.
BONK more than 10xed during this time, blowing bears out of the water.
Solana meme coin BONK might not 10x again this time, but it could easily blow through its record highs in the $0.0000040 area.
BONK Alternative to Consider – Crypto All-stars (STARS)
Bonk has a lot of upside potential, but its already bloated market cap of around $1.4 billion, per CoinMarketCap, suggests there is limited room for further exponential gains.
For investors looking to bag 10, 20 or even 50x gains, meme coin presales might be a better option.
Presales allow investors to participate in up-and-coming projects before they gain broader traction and interest.
If an investor can get into the right meme coin presale, they could bag huge gains.
One project that analysts at Cryptonews.com think has big potential is an exciting new meme coin staking protocol called Crypto All-stars (STARS).
The presale has been garnering a lot of excitement in meme coin trading circles given it offers meme coin investors an opportunity to earn a yield on their holdings.
All meme coin investors must do it own STARS and then lock their tokens in the so-called MemeVault for a big STARS yield.
The more STARS tokens users own, the higher the yield they receive, incentivizing early participation.
Cryptonews.com thinks Crypto All-stars is one of the meme coin presales with the highest potential in the market right now.
See the below video to see why Cryptonews.com’s in-house analyst Chester explain why it has 100x potential.
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.
