Pengu, Bonk Lead Top Meme Coin Gainers as Some Analysts Think Solaxy and Flockerz are Next to Pump

It’s been a wild week within the crypto market, with Bitcoin grabbing headlines because it soared to a brand new all-time excessive of $108,268 earlier than crashing again underneath $100k. In the meantime, meme cash have adopted swimsuit, with majors like Dogecoin climbing over $0.41 earlier than falling to $0.325 right now.

Behind the volatility in these headline-grabbing tokens, meme cash have been on a tear. Essentially the most explosive beneficial properties have come from newer tokens like $PENGU and Solana meme cash like Bonk, each of which have been working their means up the meme coin charts.

In the meantime, meme coin ICOs like Flockerz and Solaxy are seeing growing momentum.

Let’s take a better take a look at all of the motion within the meme coin market as we head into the ultimate stretch of 2024.

Meme Coin Sector Marches Upward, Led by $PENGU and $BONK

The meme coin sector spent a lot of early December extending its successful streak, including greater than $17 billion to its whole market cap between December 1 and December 8. The sector’s valuation has fallen to $96 billion in current days, principally pushed by Dogecoin’s losses.

However look past Dogecoin, and the meme coin market gives a really completely different image. Previously 24 hours alone, Pepe is up 11.7%, Shiba Inu is up 8.4%, and Dogwifhat is up 5.3%.

The largest winners of this upward pattern have been tokens like Pudgy Penguins ($PENGU) and Bonk, that are up 11.2% and 12.3%, respectively, since yesterday.

Bonk’s beneficial properties helped it overtake $WIF to develop into the highest Solana meme coin by market cap—a cat-and-mouse sport the 2 tokens have performed for months, and which Bonk appears more and more prone to win.

Plus, technical evaluation signifies there might be extra beneficial properties for $BONK simply across the nook. Utilizing Elliott Wave evaluation, @ManofBitcoin on X acknowledged a possible pump to $0.000118 would possibly come when Bonk breaks out of its present pattern.

$BONK: The worth has fashioned a wick to the draw back however the day by day candle closed above the pattern line. So wave-4 continues to be legitimate. pic.twitter.com/3bz8iZ7EFX

— Man of Bitcoin (@Manofbitcoin) December 20, 2024

The beneficial properties in $PENGU are particularly noteworthy as a result of they signify continued momentum for the reason that token listed on Binance on December 17. $PENGU is up almost 500% for the reason that itemizing and has a market cap of $1.8 billion, making it the Sixth-largest meme coin total inside simply days of its launch.

Meme coin merchants and analysts have taken observe of an rising pattern for which $PENGU is simply the most recent knowledge level: Binance has the facility to create winners out of rising tokens within the meme coin market just by itemizing them.

Determining which tokens the change will record subsequent is now among the best methods to search out earnings within the meme coin market.

Some Analysts Eye Rising Meme Cash $SOLX and $FLOCK for Huge Good points

Whereas it’s inconceivable to know which cash Binance’s itemizing groups have their eyes on subsequent, quite a lot of analysts are watching two rising meme cash that they assume might be destined for the change.

The primary is Solaxy ($SOLX), a brand new mission that plans to construct the primary Layer-2 scaling resolution for Solana. Whereas the $SOLX token is primarily a utility token, it makes a nod to the meme coin market by utilizing a browsing, mustachioed Pepe as its mascot.

The $SOLX token presale is on now and has raised greater than $4 million in lower than per week, elevating expectations that this mission might be enormous. A few analysts are definitely enthusiastic about Solaxy due to its potential to profit from the meme coin supercycle.

The Solana blockchain already struggles from congestion points, and a surge in meme coin buying and selling may make these issues worse. Solaxy supplies an answer for meme coin merchants by providing a sooner and cheaper Solana-based community for executions.

One other mission on crypto some analysts’ radar is Flockerz ($FLOCK), a viral new meme coin that’s pioneering a vote-to-earn mechanism to interact and reward its neighborhood.

Beneath the vote-to-earn scheme, conventional staking rewards are thrown out the window. As an alternative, proposals for brand new improvement, partnerships, and the way to use the $FLOCK treasury are voted on by the Flockerz neighborhood. Each time traders vote, they obtain $FLOCK tokens as a reward.

This strategy has the advantage of bringing the neighborhood collectively to construct a extra vibrant mission whereas guaranteeing that traders get an actual say within the mission’s future via their $FLOCK tokens. Analysts like ClayBro are bullish on this strategy, declaring Flockerz a ‘prime meme coin to purchase now.’

$FLOCK can also be successful with traders, who’ve poured greater than $7 million into the Flockerz token presale up to now. With that form of backing, it’s seemingly that Binance would possibly carefully be watching this presale and will put its weight on the scales with an inventory after the $FLOCK token launches.

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