Solana meme coins are skyrocketing again, driven by the broader crypto market rally and the bullish strength in SOL. According to CoinGecko, the Solana meme coin market cap is on the cup of reclaiming the $10 billion mark, thanks to another 6% growth today.
Bonk coin has rallied by over 52 % over the past week and has reclaimed the $2.1 billion market capitalization today on Monday. The second-largest Solana meme coin is now trading at $0.000031 at press time.
However, the Bonk price predictions from experts have the token trading much higher by the end of August.
Bonk Price Prediction For August
The investor optimism surrounding the Bonk coin isn’t surprising. Being one of the top SOL meme coins, it has emerged as an excellent beta play on Solana, with some experts even calling it “leveraged SOL”.
The SOL price is expected to see significant growth in August on speculation that BlackRock and Fidelity could join the spot Solana ETF race.
As such, the odds of SOL ETF approval have increased substantially now that former President Donald Trump is a favourite to win the November Presidential elections. This is especially the case after President Joe Biden has quit his re-election campaign, making Vice President Kamala Harris the likely Democratic nominee.
Either way, it is likely that Chair Gary Gensler’s days at the SEC are numbered, which bodes well for the cryptocurrency market and especially, Solana. Not only could the SOL ETFs be approved under a new SEC administration, but Solana could also earn a non-security status.
Unsurprisingly, experts now believe that the Solana price could potentially hit a new all-time high in August, providing the ideal backdrop for meme coins such as Bonk to skyrocket.
The Bonk price chart is also showing excellent fundamentals. For instance, a popular crypto trader Athantonios (@athantonios) reveals its weekly RSI has been reset, indicating an oncoming bull rally. Similarly, the meme coin’s green candles are seeing much higher volume than the red candles, signalling that the overall trend is bullish.
He also highlights that the Bonk price chart has recently formed a triangular consolidation pattern in the weekly time frame, which could be a precursor to a strong green candle.
According to our Bonk price prediction, we expect the meme coin to reach a new all-time high in the first week of August. The Bonk price is currently 30% below its all-time high.
Furthermore, the token could trade as high as $0.00006 by the end of August, nearly double its price today. This would especially be true if the US Federal Reserve shows its inclination towards cutting interest rates in September.
New Meme Coin Base Dawgz Also Set To Explode - Next 100x Crypto?
The meme coin mania is back in full swing, which means new, low-cap tokens are in high demand. While large-cap meme coins like Bonk are expected to offer substantial returns, experts are aiming for 50x to 100x returns with low-cap gems.
For instance, a new multi-chain meme coin Base Dawgz has received over $2.6 million in early presale investments.
DAWGZ is already being touted by smart money traders as the next big Base meme coin, one that could potentially follow in Brett’s footsteps.
While it is native to the Base chain, its multi-chain status will allow Base Dawgz to benefit from the upcoming Solana meme coin rally. In fact, DAWGZ is live on 5 different chains - Base, Ethereum, Solana, BNB Smart Chain and Avalanche.
Additionally, it is already offering attractive staking rewards on 4 of the chains, with Solana staking still in the works. The Base Dawgz staking pool is currently offering a reward rate of over 1200%, significantly higher than the industry average.
Token holders can also take advantage of the innovative share-to-earn program, simply by sharing DAWGZ-related content on social media to earn airdrop points. They can also create their own referral link and receive a percentage of the profits on every investment.
Thanks to its wide-ranging community rewards and early presale demand, some experts are also calling Base Dawgz the next 100x potential crypto.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
