- WIF and BONK’s latest efficiency confirmed that they may very well be the SHIB and DOGE of this cycle.
- Though BONK was overbought, the ATR advised that prime volatility may ship the value larger.
- WIF’s short-term momentum may drive the value beneath $1.70 but it surely stays bullish in the long run.
Memecoins on the Solana blockchain together with Bonk (BONK) and dogwifhat (WIF) have been registering eye-catching data each day as the costs proceed to climb. As comparatively new cryptocurrencies that got here to gentle over the previous 12 months, BONK and WIF mirrored the performances of Dogecoin (DOGE) and Shiba Inu (SHIB) in the course of the 2021 bull market.
Within the final 90 days, WIF’s value has elevated 10x. BONK, however, has climbed by an unbelievable 478%. Throughout the similar timeframe, DOGE’s value elevated by 90.51% whereas SHIB jumped by 204.02%.
The momentum proven by BONK and WIF means that they might outperform the highest two meme cash out there. Nevertheless, SHIB and DOGE’s market cap was far larger than WIF and DOGE.
At press time, DOGE’s market cap was $24.17 billion whereas SHIB’s was over $16 billion. BONK’s market cap crossed the $2 billion mark however WIF was a bit beneath it at round $1.7 billion. A state of affairs like this implies that the Solana-based meme cash would possibly nonetheless have huge upside potential.
BONK Worth Prediction
BONK, as displayed, on the 4-hour chart, continued to hit new highs. At press time, the worth of the cryptocurrency was $0.00003232. Earlier than the soar, the Solana-based meme coin encountered resistance at $0.00002678.
Nevertheless, bulls defended the $0.00002307 help as the value rebounded. At the moment, BONK was overbought because the RSI indicated. Usually, that is imagined to set off a retracement. Nevertheless, BONK’s value may additionally lengthen larger as a result of indicators from the Common True Vary (ATR).
At press time, the ATR studying elevated, indicating excessive volatility. Nevertheless, the excessive volatility may both set off a better value or dump BONK tougher. In a extremely bullish case, BONK’s value may delete one zero and hit $0.00010.
If so, the cryptocurrency may proceed to outperform SHIB and DOGE. Then again, the value of BONK would possibly nosedive if the capital coming into it strikes elsewhere.
WIF Worth Prediction
WIF appears to be dropping its bullish momentum because the Superior Oscillator (AO) displayed high-rising pink histogram bars. This AO place means that WIF’s value may slide beneath $1.74.
The Bollinger Bands (BB) indicated excessive volatility identical to the best way the ATR confirmed it with BONK. Nevertheless, the higher band of the BB tapped WIF across the $1.70 area, indicating that the token was overbought.
On this occasion, WIF may decline to $1.65. However the long-term outlook for the token stays one to be careful for. If WIF repeats the efficiency it has had within the final 30 days, it may rise one other 10x. Ought to this be the case, its market cap would shut in on that of DOGE and SHIB.
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