Solana-Based Memecoin Shows Bullish Sign; Cryptocurrency Up 67%

 

A cryptocurrency analyst recently shared a rather bullish sentiment regarding a memecoin built on the Solana (SOL) blockchain. The meme cryptocurrency in question is PONKE (PONKE), which has been seeing significant gains in recent days.

The expert and trader known by the pseudonym Bluntz noted that the memecoin PONKE is currently demonstrating a significant high achieved after breaking out of an ascending channel. With this, the cryptocurrency then aimed to turn its upper limit of the ascending channel into a support level.

In an analysis recently shared on social media platform, X, the expert shared PONKE price action, suggesting that the cryptocurrency may be entering a bullish phase.

“So many meme charts are now putting up structures we saw in sol shitters that 100x’d earlier in the cycle that I’ve mentally marked them as extremely bullish. my portfolio is starting to look like noah’s ark again,” he wrote.

At the time of publication, PONKE’s price is trading at $0.6736, up 0.5% over the past 24 hours. In its weekly development, the meme cryptocurrency has seen a considerable price increase, rising by an impressive 67.9% over the past seven days.

PONKE’s growth is even more astonishing when you look at the cryptocurrency’s monthly data. In 30 days, the memecoin has increased its price by over 100%. As of June 20, PONKE was trading at $0.342999. PONKE’s monthly peak was yesterday, July 19, when the cryptocurrency also reached its all-time high price. The highest price paid for PONKE was $0.7087. In comparison, the current price is 4.88% lower than the all-time high.

Disclaimer:

The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.