Traders are bullish on $BONK as Meme Coin price continues to rise. Could this Meme coin get pumped next time?

Traders are becoming incredibly bullish on $BONK as the meme coin heavyweight witnessed a 40% price surge to break out of a consolidation pattern.

The breakdown of the consolidation pattern is sparking renewed optimism in the meme coin bull market narrative as traders look for alternative tokens that can deliver outsized returns.

In particular, experts suggest that $SMOG and $SPONGE are next to see a similar pump to $BONK. Here’s why:

$BONK Breaking Consolidation Pattern and 40% Spike Set-up for a Huge Reversal?

$BONK is setting the stage for a massive reversal after breaking out of a consolidation pattern it has been stuck in since mid-December.

The meme coin caused a sensation in December after soaring more than 700% to reach a peak market capitalization of $1.5 billion.

After the peak, $BONK traded down within the range of the descending triangle pattern, with the base of the triangle providing support at $0.00001.

A 40% price surge over the past four days has caused $BONK to break its consolidation and set the stage for a surge.

Looking ahead, the first resistance is at $0.000015. This is followed by resistance at $0.0000178 (bearish .382 Fib), $0.00002, $0.0000123 (bearish .618 Fib), and $0.000025.

Which Meme Coins May Experience Price Rises?

$BONK is one of the most popular meme coins, but traders are now turning their attention to lesser-known alternatives that could offer greater price upside than $BONK from current levels.

In particular, traders were fascinated by the growth of the newly launched Smog token ($SMOG). The Smog token recently surged more than 3,000% following its fair launch on Jupiter this week.

Additionally, Spongebob Token ($SPONGE) is also set for its next pump, raising over $8.5 million on the staking bridge as traders prepare for its V2 upgrade.

$SMOG surges 3,000% on Epic after Ethereum launches

Smog Token ($SMOG) has become one of the most popular meme coins this week following its fair launch on Jupiter earlier this week.

Smog Token is a viral meme coin that originated on Solana and continues to gain attention after recently announcing its move to multichain on Ethereum via Wormhole using PortalBridge.com.

Now, $SMOG is poised to dominate two chains, following in the footsteps of viral meme coins like $BONK and $WIF.

The token is on a mission to deliver the largest airdrop ever, with a whopping 35% of the total supply reserved for the event.

Users can purchase and hold $SMOG to accumulate airdrop points to qualify for historic airdrops.

Alternatively, users can build airdrop points by participating in Zealy campaigns. Zealy is a platform that provides social engagement with projects through quests, such as following $SMOG on Twitter and joining the Discord group.

The team revealed that in just three days, over 10,000 quests have already been completed, highlighting the overwhelming hype that has built up behind this project.

The fact that $SMOG has been trending as one of the most popular coins on dashboards like DexTools over the past four days further validates this hype.

The cryptocurrency is currently trading within a rising price channel, with traders viewing any dip as a buying opportunity.

Overall, with the meme coin bull market building, Smog Token is undoubtedly the best alternative that can deliver 10x returns.

Buy $SMOG today

$SPONGE sees an incredible $8.5 million in Stake-to-Bridge utility as traders prepare for V2.

Another meme coin touted to be pumped next is Spongebob Token ($SPONGE), which recently saw over $8.5 million in assets staked on its staking bridge utility.

Spongebob tokens are currently undergoing an upgrade to V2 $SPONGE, with traders pouring $SPONGE into the stake-bridge mechanism to get the equivalent of V2 $SPONGE after the upgrade.

The token was one of the most popular meme coins, soaring to a market capitalization of $100 million in May 2023, providing 100x returns for early adopters.

The V2 $SPONGE upgrade will be the next incarnation of the project, described as the “crabby patty of meme coins.” We plan to replicate the upward trend by introducing new utilities such as Play-to-Earn to the ecosystem.

Given the whopping $8.5 million transferred to the bridging contract, it is clear that traders are expecting huge profits once the V2 $SPONGE upgrade goes live.

Those interested in participating in V2 $SPONGE can purchase V1 $SPONGE on the project website and stake it automatically.

Buy $SPONGE now