PONKE [PONKE], a relatively new player in the world of meme coins, has shown impressive performance throughout the year. Following a notable peak in July, the coin experienced a significant downturn.
Recent data indicates that the bears might be losing momentum, signaling a potential uptrend for PONKE in the near future.
For almost eight weeks now, PONKE has been on a downward trend from its all-time high, causing attention to shift elsewhere in the market.
However, with the coin now trading at a considerable discount, it seems that PONKE might be gearing up for a comeback.
According to insights from LunarCrush Social Intelligence, PONKE recently witnessed a substantial surge in social dominance, hinting at a resurgence in interest among investors.
This uptick in social dominance for PONKE could signal an increase in liquidity flows to the coin.
It is worth noting that this observation comes at a time when PONKE has shown signs of relief from the persistent bearish pressure witnessed since its all-time high.
In June, PONKE peaked at $0.715, marking a staggering 12,000% rally from its lowest point in July. Currently trading at $0.269, the coin is selling at a 62% discount from its peak price.
The selling pressure on PONKE seems to have stabilized earlier in the month.
Is it a favorable time to consider acquiring PONKE?
The discounted price of PONKE presents an enticing entry opportunity, especially given the historical demand at current and lower levels.
Many might view this as a favorable zone to re-enter the market.
The rise in social dominance coinciding with a stabilization in price could be interpreted as a bullish sign for PONKE.
Furthermore, the Money Flow indicator suggests that liquidity is flowing back into the coin.
With strong demand, PONKE has the potential to revisit its previous all-time high and even surpass it, translating to a gain of over 165% from its current level.
PONKE’s impressive performance in just half a year positions it as a potentially highly sought-after meme coin in the upcoming bullish phase.
Given its current market capitalization of just over $150.4 million, PONKE stands a chance to join the ranks of meme coins with market caps exceeding $1 billion, setting the stage for the next major prediction.
If PONKE reaches a $1 billion market cap on a fully diluted basis, its price could reach $1.8, representing a remarkable 569% gain from its current valuation.