Leading Solana meme coin $BONK jumped 7% overnight, adding to the token’s recent rally. During the last week of trading, $BONK is up more than 80%.
That’s an impressive run for a meme coin that had already delivered a gain of more than 2,000,000% since October. Bonk is now the 2nd-largest meme coin in the Solana ecosystem, behind only Dogwifhat ($WIF).
How High Could Bonk’s Rally Go?
Bonk has strong upward momentum and all indications suggest that the token has more gas in the tank. Trading volume remains elevated at more than $4 million, and technical analysis indicates the price remains safely above a trendline extending from the start of its recent gains on April 20.
There are also tailwinds behind Bonk because of the project’s utility, which far exceeds that of the average meme coin. $BONK is supported on 9 different blockchains and has integrations for nearly 130 dApps spanning DeFi, crypto gaming, exchanges, and NFT platforms. The team behind Bonk is also working on its own decentralized exchange, trading bot, and play-to-earn crypto game.
However, Bonk’s market cap of $2.4 billion may limit how much room this meme coin has to grow. Dogecoin, the largest meme coin by far, has a market cap of $21 billion—an 8x increase from Bonk, and a benchmark that Bonk is unlikely to surpass.
This means that while Bonk might continue to deliver noteworthy gains, it’s highly unlikely to 10x in price. Even a doubling in price is unlikely for a meme coin of this size. Gains in the range of 25-70% are the most likely scenario even if $BONK remains highly bullish.
There are also no major catalysts on the horizon for $BONK. The token is already listed on all major exchanges, including Binance, Coinbase, and OKX.
As a result, Solana meme traders are looking beyond Bonk to find the next token that could deliver truly explosive returns. Many are betting they’ve found it in a new token called Slothana.
Could Slothana be the Next Big SOL Meme Coin? Presale Raises $15m, Ends in 2 Days
Slothana is a new Solana meme coin that has raised more than $15 million in its ongoing presale. It’s been a fast-moving sale, and it ends in just 2 days—so traders need to buy the $SLOTH token soon to get it ahead of the launch.
Slothana aims to topple Bonk and Dogwifhat as the dominant meme coin on Solana, and it appears poised to do so. The meme coin centers around an adorable and relatable sloth, and the project’s X feed is filled with hilarious sloth-themed memes.
During the presale, traders can buy $SLOTH at a rate of 1 SOL = 10,000 $SLOTH. The price has been fixed throughout the presale, meaning that there’s no price penalty for traders who jump in right now just before the launch. Purchased tokens will be airdropped to buyers’ wallets at the end of the presale.
The potential for Slothana once it hits exchanges is huge. Crypto analysts like Jacob ‘Crypto’ Bury have suggested $SLOTH could be the next 100x Solana meme coin.The token has also gotten attention from crypto influencers like ClayBro, Coin Girl, and many others.
Don’t miss this chance to buy $SLOTH now before the presale ends in 2 days’ time.
