Bonk Price Surges Over 20% in a Week, Could Slothana Be the Next SOL Meme Coin to Explode?

The post Bonk Price Surges Over 20% in a Week, Could Slothana Be the Next SOL Meme Coin to Explode? appeared first on Coinpedia Fintech News

Meme coins are back, with Bonk (BONK) seeing its price surge over 20% in the past week.

Alongside BONK, other Solana-based tokens like Book of Meme (BOME) and Popcat (POPCAT) have soared since last Monday.

Now, crypto traders are hunting for the next potential meme coin explosion on Solana – with Slothana (SLOTH) emerging as a prominent contender.

BONK Token Rockets After Rejecting Key Support Level

BONK has been the meme coin on everyone’s minds in the past few days.

The token’s price has skyrocketed, now trading around $0.000020 after a sharp rally over the weekend.

That price point represents BONK’s highest valuation since April 12.

One of the main catalysts for the token’s rise was the aggressive rejection of support around $0.0000137.

This support level held firm numerous times in the past week and served as a springboard for launching BONK higher.

As a result, BONK has been propelled into the top five most traded meme coins by spot volume across all exchanges.

Adding to the mania is a recent proposal from the Bonk DAO to burn nearly 280 million tokens from its treasury wallet.

That represents 100% of the BONK tokens sent to the DAO from BonkBot since its launch.

Scarcity plays have often led to price rallies in the meme coin space – so the idea of a massive token burn may be fueling BONK’s move higher.

Solana-Based Meme Coins Catch Fire Following Network Update

It’s not just BONK that’s been printing gains for meme coin traders lately.

Several other Solana-based tokens have caught fire over the past week as well.

Book of Meme (BOME) is one example, with the token pumping 14% in the past seven days.

Slerf (SLERF) joined the party with a 4% price spike.

But the biggest gainer among Solana’s established meme coins has been Popcat (POPCAT) – which has gone parabolic with an 88% surge.

POPCAT’s explosive move has even launched it into the top 10 most traded meme coins by spot volume over the past 24 hours, currently ranking 8th.

While retail trader speculation is likely fueling some of these rallies, there could also be a more fundamental reason for meme coins’ strength.

Last week, Solana developers rolled out a blockchain update to combat the persistent congestion issues that have plagued the network recently.

This upgrade seems to have reinvigorated trader interest in the Solana meme coin space.

Slothana Set to Shake Up the Solana Meme Coin Ecosystem After DEX Launch

While BONK and other Solana meme coins have been racing higher, one new project could soon give them all a run for their money – Slothana.

Despite not even being listed on a DEX yet, this sloth-themed Slothana has already whipped up a frenzy thanks to its presale model and hilarious social media marketing.

By allowing investors to simply send SOL to a specified wallet address in exchange for SLOTH, Slothana’s team has managed to raise over $10 million in just a few weeks.

It’s a simple yet genius tactic that has resonated with the “degen crowd,” who are always hungry for the next viral token launch.

But it’s not just the presale model that has these traders buzzing.

Slothana’s mascot, a relatable sloth office worker dreaming of crypto riches, has become a meme sensation on crypto Twitter.

If there’s one thing retail investors love, it’s a hilarious character they can support – and Slothana seems to have nailed that X-factor.

Rumours that the team behind the wildly successful Smog (SMOG) meme coin is somehow involved in the Slothana project are adding to the hype.

Whether those rumours are true or not, the association alone lends Slothana an aura of credibility in the eyes of many traders.

And with a DEX listing set to occur next week, SLOTH could potentially leave BONK and its meme coin peers in the dust.

Those looking to buy SLOTH tokens before the DEX launch can do so at slothana.com.