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Meme coins on  Solana, such as WI-FI and BONK, represent competition for the success of DOGE and SHIB
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Meme coins on Solana, such as WI-FI and BONK, represent competition for the success of DOGE and SHIB

Mar 4, 2024

Over the past 90 days, the price of WIF has increased 10 times, and BONK has shown an incredible increase of 478%. In the same period, the prices of DOGE and SHIB increased by 90.51% and 204.02%, respectively.

BONK and WIF's achievements are a serious contender for leadership in the memcoin sector this year. Despite the fact that the market capitalization of DOGE and SHIB significantly exceeds the capitalization of WIF and BONK.

The capitalization of DOGE is $24.17 billion, SHIB is more than $16 billion, BONK has reached more than $2 billion, and the capitalization of WIF is slightly lower and amounts to $1.7 billion. Thus, the potential of meme tokens based on Solana remains huge.

BONK price forecast

The current price of the cryptocurrency is $0.00003232, and after successfully overcoming the resistance at $0.00002678, BONK can continue its growth.

At the moment, BONK is in the overbought zone according to the RSI, which usually leads to a price correction, but signals from the average true range (ATR) indicate a possible continuation of price growth.

With an increase in the ATR value, volatility also increases, which can provoke a further price increase. In an optimistic scenario, the BONK price may increase and reach the level of $0.00010.

WIF Price Forecast

On the contrary, the WIF seems to be losing its bullish momentum as the Awesome Oscillator (AO) indicator shows high red bars, which could cause the price to fall below $1.74.

Bollinger bands (BB) also indicate high volatility, with the upper band touching the $1.70 level, indicating that the token is overbought.

In this case, the WIF price may drop to $1.65, although the long-term prospects of the token remain attractive. If WIF repeats the successes of the last 30 days, its market capitalization will approach that of DOGE and SHIB.

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