New Solana meme coin rallies by over 100%, analysts tracking 3 projects
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
The Solana meme season continues, with new contender Honk up 144% in the last 24 hours. Meanwhile, quick-footed traders are shifting attention to the next meme coin, with the top three alternatives being Sponge, Meme Kombat, and Pre.
Honk rallying
Newly launched Honk has experienced an eventful launch, with its CoinMarketCap price history dating back to Jan. 23.
Despite that being less than three days ago, Honk has enjoyed a considerable uptick in price, pumping over 740%. The project holds a $22 million market cap and $14 million in trading volume.
The meme coin is also trending on CoinMarketCap, outranking Bonk.
DexScreener data shows that Honk launched on Jan. 12, 2024, at $0.00005844.
Trading at over $0.01951, the meme coin is up by over 3,238%.
Meanwhile, Solscan data shows that interest is building around Honk. There are currently over 6,000 holders as momentum builds, especially in social media.
Analyst Easy Zabbo says the token can rally to $0.029 and $0.0379 in the sessions ahead.
Another analyst, Tyreks, is also upbeat of HONK.
While the exact catalyst behind Honk’s pump is unclear, a combination of FOMO and excitement, a proactive team, and a witty identity have played a role.
The team plans to on board a new advisor who has helped other successful meme coins, adding a degree of legitimacy and displaying its intentions of long-term success.
Furthermore, LBank has already listed HONK.
Honk is based on the famous internet meme of the “audacious goose,” originating from the viral video game “Untitled Goose Game.”
The project takes the approach of a “Bonk killer,” with the opening headline on its website being, “MESS WITH THE HONK, YOU GET THE BONK.”
But alongside Honk’s trajectory, several other meme coins are also gearing for more gains:
Sponge
Sponge launched in May 2023 before rallying by 100x, commanding a $100 million market cap.
However, after pulling back with the rest of the market, Sponge is taking another run, currently with a $16 million market cap and up 63% this month.
The meme coin’s recent success following the bridging of Sponge to Sponge V2. The new edition will have utility, with SPONGE useful in their play-to-earn racing game.
Sponge V2’s game adds a unique spin to the project.
SPONGEV2 will be used to buy credits to play the game and earn more rewards.
That said, a free version is also available, making it accessible to everyone and helping strengthen the Sponge community.
Sponge is currently conducting a stake-to-bridge campaign.
Existing holders can deposit their Sponge for an equivalent amount of V2 tokens plus an additional staking yield.
Meanwhile, new buyers can purchase and stake Sponge V2 from the Sponge.vip website.
Meme Kombat
Meme Kombat is a meme coin in the GambleFi space.
The project allows users bet on AI-generated battles between meme coin characters.
Users will bet using MK; this utility will support prices.
Meanwhile, Meme Kombat, being a meme coin, might draw more enthusiasts looking to explore the project’s multiple characters.
Austin Hilton believes this use case will expand its user base.
Meme Kombat also has a staking mechanism, offering a 125% APY. However, the yield is variable and will decrease as the staking pool grows.
Like Honk, Meme Kombat’s team has been proactive in its transparency efforts and pursuit of long-term potential.
The project’s team is public, with its founder’s details available on the website.
Furthermore, blockchain security firm Coinsult has audited the platform, finding its smart contracts safe.
Pre
Pre, a meme coin on Solana, is up by over 70% in the past 24 hours.
The token has surged by over 300% since launching on Jan. 23.
However, with a modest $8 million market cap, this project remains in its very early stages.
Compared to Honk, Pre has room growth.
Alongside its price, Pre’s 24-trading volume is also surging, up 57% in the last 24 hours and currently at $2.6 million.
According to Solscan data, there are over 2,400 Pre holders when writing on Jan. 26.
Pre’s concept targets everyday crypto investors aspiring for financial success but have yet to achieve it. T
Consequently, analysts and influencers, including Eric Stevens and Jake Gagain, are bullish.
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
