Solana Season? WIF, BONK Eyes Dogecoin, Shiba Inu’s Positions

• WIF and BONK’s current efficiency confirmed that they may very well be the SHIB and DOGE of this cycle.
• Though BONK was overbought, the ATR advised that top volatility might ship the value increased.
• WIF’s short-term momentum might drive the value beneath $1.70 but it surely stays bullish in the long run.

Memecoins on the Solana blockchain together with Bonk (BONK) and dogwifhat (WIF) have been registering eye-catching data day by day as the costs proceed to climb. As comparatively new cryptocurrencies that got here to gentle over the previous 12 months, BONK and WIF mirrored the performances of Dogecoin (DOGE) and Shiba Inu (SHIB) throughout the 2021 bull market.

Within the final 90 days, WIF’s value has elevated 10x. BONK, then again, has climbed by an unimaginable 478%. Throughout the similar timeframe, DOGE’s value elevated by 90.51% whereas SHIB jumped by 204.02%.

The momentum proven by BONK and WIF means that they may outperform the highest two meme cash available in the market. Nevertheless, SHIB and DOGE’s market cap was far increased than WIF and DOGE.

At press time, DOGE’s market cap was $24.17 billion whereas SHIB’s was over $16 billion. BONK’s market cap crossed the $2 billion mark however WIF was a bit of beneath it at round $1.7 billion. A scenario like this implies that the Solana-based meme cash would possibly nonetheless have large upside potential.

BONK Value Prediction

BONK, as displayed, on the 4-hour chart, continued to hit new highs. At press time, the worth of the cryptocurrency was $0.00003232. Earlier than the leap, the Solana-based meme coin encountered resistance at $0.00002678.

Nevertheless, bulls defended the $0.00002307 assist as the value rebounded. At the moment, BONK was overbought because the RSI indicated. Sometimes, that is alleged to set off a retracement. Nevertheless, BONK’s value might additionally lengthen increased as a consequence of alerts from the Common True Vary (ATR).

At press time, the ATR studying elevated, indicating excessive volatility. Nevertheless, the excessive volatility might both set off a better value or dump BONK more durable. In a extremely bullish case, BONK’s value might delete one zero and hit $0.00010. 

If that is so, the cryptocurrency might proceed to outperform SHIB and DOGE. Then again, the value of BONK would possibly nosedive if the capital coming into it strikes elsewhere. 

WIF Value Prediction

WIF appears to be shedding its bullish momentum because the Superior Oscillator (AO) displayed high-rising purple histogram bars. This AO place means that WIF’s value might slide beneath $1.74.

The Bollinger Bands (BB) indicated excessive volatility identical to the way in which the ATR confirmed it with BONK. Nevertheless, the higher band of the BB tapped WIF across the $1.70 area, indicating that the token was overbought. 

On this occasion, WIF might decline to $1.65. However the long-term outlook for the token stays one to be careful for. If WIF repeats the efficiency it has had within the final 30 days, it might rise one other 10x. Ought to this be the case, its market cap would shut in on that of DOGE and SHIB.