The meme coin bull run is officially starting after heavyweights $BONK and $WIF see extraordinary price surges over the past few days, setting the stage for an epic comeback.
Market leader $BONK is now up by 40% since its recent lows as it breaks a long-term consolidation pattern, while Dogwifhat also sees momentum.
While the giants see promising price action, traders are looking for alternative options that can pump next in the current bull run. In particular, experts suggest $SMOG will be the next meme coin to follow as its popularity explodes.
Meme coins are making a comeback as market leader $BONK sees an epic 40% surge over the past four days.
$BONK was the newest addition to the meme coin sensation list after surging to a market cap high of $1.5 billion in December 2023, securing its position alongside the likes of Dogecoin and Shiba Inu.
By its peak, the cryptocurrency had delivered over 40x returns for its early adopters;
Since its peak, $BONK has been in a consistent downtrend after trading inside a descending triangle consolidation pattern, with support established at $0.00001.
The recent 40% surge over the past four days allowed $BONK to break this consolidation, beginning the reversal.
Looking ahead, the first resistance lies at $0.000015. This is followed by resistance at $0.000017, $0.00002, $0.000025, and $0.0000285.
It’s not just BONK seeing an epic surge over the past few days. Other meme coins are also joining the race as they see higher prices.
For example, Dogwifhat also saw an epic reversal after surging 70% over the past four days.
WIF was a meme coin sensation that hit the market in January 2024 as the cryptocurrency surged to a high of around $0.4.
Since hitting the high, WIF has traded sideways until finding support at $0.17 this week, provided by a .618 Fib Retracement.
It has since exploded higher to break back above $0.3, reaching the current $0.33 level;
Looking ahead, resistance first lies at $0.4. This is followed by $0.45, $0.5, $0.55, and $0.618.
While BONK and WIF are certainly intriguing case studies in the meme coin space, another contender capable of delivering much higher returns is vying for traders’ attention.
That contender is Smog Token (SMOG), a project sparking immense buzz in the crypto market after going multi-chain in just four days.
Smog Token (SMOG) has been lighting up the meme coin space this week following its fair launch on Jupiter on February 7th.
The cryptocurrency brings a unique airdrop utility to the meme coin space that lets users buy and hold SMOG to earn airdrop points to qualify for a historic airdrop.
It also hosts a Zealy campaign that allows users to complete daily quests to accumulate airdrop points. The team has stated that over 10,000 airdrop tasks have been completed as participants rush to grab their share of the incoming airdrop.
Born from the celestial forges of Jupiter itself, Smog Token chose the perfect time to launch as the dragon-themed meme coin trends across the industry during the Chinese Year of the Dragon.
Since storming onto the market, the newly emerging meme coin sensation has consistently been making higher highs after surging by almost 4,000%.
SMOG is now sitting at an impressive $60 million market cap and has been consistently trending in the top tokens on DexTools since its launch;
The meme coin hit another gear yesterday after launching its Ethereum bridge through Wormhole using PortalBridge.com – a cross-chain interface with more than $1 billion in total value locked (TVL).
The bridge allows SMOG holders to move their tokens to the ETH liquidity pool to take advantage of its staking benefits, currently providing a 42% APY with a three-month staking lock.
Overall, with meme coins experiencing a newly formed bullish run, SMOG is certainly next in line to explode.
The cryptocurrency shows the hallmarks of a highly experienced Web3 team as it seeks to follow the footsteps of BONK and WIF, with exchange listings apparently imminent.
Those interested in buying SMOG can do so using SOL on Jupiter or through the project’s website using ETH.
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