The cryptocurrency market’s well-liked meme token BONK has recently witnessed a notable surge in its price, soaring to a monthly high. This increased value has sparked conversations about whether this trend will extend to other leading meme tokens such as Dogecoin (DOGE), Shiba Inu (SHIB), and PEPE.
Impressive Gains for BONK
The Solana-based meme token BONK has seen its worth climb by over 30% in just a few days, catching the attention of digital asset investors. The token’s upward trajectory began on February 9 after it broke free from a downward pattern, reaching a significant price point. This bullish trend hints that BONK’s value ascension might continue in the near future.
Technical analysis suggests that BONK could potentially see an additional 23.50% increase. Meanwhile, Dogecoin, the original meme token, is currently navigating a less volatile path, trading within a consistent range since January. DOGE stands at a critical point, where a move beyond the current resistance could lead to moderate gains, while failure might result in a slight decline.
Shiba Inu and PEPE’s Potential Upswing
In the meme token arena, heavyweight Shiba Inu has made a promising move, exiting a bearish channel that could set the stage for a 20.56% appreciation in price. After a modest rise post-breakout, SHIB could see further growth.
PEPE, another meme token in the spotlight, is also on the cusp of a significant upturn. If it overcomes a key resistance level, it may achieve a remarkable 57% gain, with an opportunity for even greater heights. This positive outlook for meme tokens is contributing to a dynamic atmosphere in the cryptocurrency market.