Top Crypto Gainers on 29 February – BONK and DOGE
Uncertainty is a common factor in the crypto market. But even at that point, several assets prove their worth. Today, February 29, four assets stand out from the crowd, making waves and breaking records in the volatile market: BONK, DOGE, SMOG, and Meme Kombat.
With a current value of $0.00002159, BONK depicts a 39.72% daily surge and aims to reach more levels as meme coins continue gaining momentum.Also, DOGE, trading at $0.1279, boasts a daily surge of 30.07% and increased liquidity.
Additionally, SMOG and MK are attracting massive interest from investors. Besides price gains, these top gainers are gaining popularity, traction, widespread adoption, and even hitting new milestones.
Bonk (BONK) - First Dog-themed Democratic Coin on Solana
The Solana-based meme coin, Bonk (BONK), has seen significant gains as the sector gets more popular. On the past day, BONK's value increased by 56%, reaching $0.000021. However, it's 27.70% up to $0.00002124.
Also, its market cap now tops $1.3 billion, making it the third-largest meme coin and the 64th-biggest cryptocurrency overall.
What's more! The coin's trading volume also shot up by 143.27%, hitting $963 million, and interestingly, the coin is trending on several social networks, especially X and Telegram, with about 320% traffic since February 25.
Despite the price surge, the biggest holders of BONK haven't sold off yet, and according to Santiment's data, Bonk's Relative Strength Index (RSI) has cooled slightly.
Bonk's price jump coincides with Bitcoin's climb to $64,000, which boosts the whole crypto market. According to CoinMarketCap, the total value of meme coins has surged by 32% in the last day, reaching over $34 billion.
Given these facts, where is Bonk (Bonk) heading to?
BONK Finds Support Above Broken Bollinger Band Resistance - Could It Trigger a Bounce?
On the 4-hour chart above, BONK is recording price rallies, with several consecutive green candlesticks. The coin's price has broken above the upper Bollinger Band, which marked a resistance level, and has now become a dynamic support for BONK.
Also, it has found support at the horizontal level of $0.00002105. Given these two key support zones, buyers are expected to enter the market anticipating the continuation of the bullish trend.
As such, increased BUY trades could push BONK to its most recent swing high, $0.00002288, and beyond.
While the coin is bullish in the short term, several indicators give contrary signals to the overall directional bias.BONK has formed a red candlestick showing selling activities, its RSI is plunging from the overbought zone (above 70), and the Bollinger bands are widened.
Combining these signals, the price could dip before continuing. So, to be safe during the dip, traders should work with adequate risk management practices while trading with strategic trade setups.
Dogecoin (DOGE) - Most Famous Doge" Internet Meme and Open-source Crypto Coin
Dogecoin (DOGE) is having a great day as it rides a wave of optimism. The price of this meme-based cryptocurrency has shot up by 29% to $0.1286, leading the charge in a strong market fueled by Bitcoin's rise. The coin's value has surged by 51% over the past week.
This recent surge is significant because Dogecoin has reached a milestone. It's trading without one zero, something it hasn't done in over a year. During this rally, Dogecoin hit a high point for the year at $0.1344, hinting at the potential to reach its previous all-time high of $0.7376.
Various factors could influence whether Dogecoin can reach its all-time high again, including how much it's being traded, the impact of significant transactions, and overall market feelings.
Dogecoin's trading volume has jumped by 208% to $5,755,421,085, making it the seventh most traded cryptocurrency.
Data shows a significant increase in large transactions within the last 24 hours. Despite Dogecoin's price rise, there's no clear sign of what's driving this rally within its ecosystem, meaning it's mainly following the broader market's trends.
Bitcoin is leading the charge, reaching above $64,000 for the first time since the last record above $69,000.
Bitcoin's substantial rise is pulling up other cryptocurrencies, including Dogecoin. For now, Dogecoin is benefiting greatly from this trend, but it's uncertain how long this rally will continue.
DOGE's Resistance Turns Support - Is a Spike to $0.14 Within Reach?
Dogecoin has reflected its rallies today in the daily chart above. It formed four consecutive candle sticks, indicating increased and persistent buying pressure in the last four days.
Again, its Moving Average Convergence Divergence (MACD) is above the signal line and has formed green histograms.
This means the bulls are firm and set for further rallies before the weekend. As such, DOGE's price could touch its recent $0.1351 high again and potentially break above it before next week.
The coin trades above its upper Bollinger band, a dynamic resistance level that now supports them.
This could be identified as a solid BUY zone for profit-taking traders. Given these signals, DOGE could reach $0.14 before the weekend and potentially trail toward $0.145 and $0. l5 levels.
On the other hand, the coin's Bollinger Bands are diverging, hinting at increasing volatility because of the price rallies.
This could trigger pullbacks, dealing losses to investors and traders on the opposite trend. As such, it's advisable to put an ideal risk management strategy in place to remain profitable in the market.
Smog (SMOG) - The Fiery Token with Exciting Rewards
Smog Token continues to make waves in the crypto space, with impressive achievements recorded shortly after its launch. SMOG has over 30.61 thousand holders and has risen to a market cap of $44.54 million.
Also, over 700,000 quests have been completed as more people join the Smog Token airdrop events.
Notably, users who buy and hold SMOG tokens and participate in quests are eligible for the airdrops.Also, stakers qualify for the airdrop with additional staking rewards, which serve as long-term holding incentives.
SMOG can be purchased on Solana or Ethereum blockchains, as the developers added cross-chain functionality to the token.
Reward System and Community Support Sustain Smog Token's EcosystemSmog Token claims to be the greatest airdrop event on Solana and continues to reward investors in the ecosystem. Currently, investors who purchase SMOG tokens will enjoy a 10% discount on prices.
SMOG has gained 20.5% on its price today to trade at $0.058, confirming rising interest from investors.
One factor aiding SMOG's price gains today is its limited supply of 1.4 billion tokens, which encourages scarcity, unlike most meme coins with an unlimited supply. Also, the project is still in its early stages and might undergo other improvements for additional utility in the coming months.
With over 31.1 thousand followers on X, less than a month after its launch, community support for SMOG is evident.According to Buhok Gaming on YouTube, the SMOG token has a 1000X potential and is well positioned to benefit from the ongoing bull run.
What Lies Ahead for SMOG?Solana shows a positive trend, rising to $128 today after Bitcoin broke above the $62,000 price level. This implies that meme coins on Solana, such as SMOG, will likely rally again even better than the meme coin season 2023.
Nevertheless, we urge investors to research properly and manage their risk exposure before making investment decisions.
Meme Kombat (MK) - The Blockchain Combat Community
Meme Kombat is poised to take advantage of favorable conditions as the crypto market transitions into a bullish phase. Meme Kombat is a thrilling adventure into the vast world of blockchain gaming, where players can choose their favorite meme characters.
With several exciting game modes to choose from and in-game rewards, Meme Kombat is likely the next extensive gaming ecosystem to emerge.
How Does It Work?6 DAYS TO GO!
Bloodshed is nearing closer and we can't wait to see the memes battle it out
pic.twitter.com/I0UZSLvxJi
- Meme Kombat (@Meme_Kombat) February 28, 2024
While battles are the central focus of the ecosystem, Meme Kombat also allows $MK holders to earn rewards through staking.Remarkably, staking is quite flexible in this ecosystem, as users can use their staked tokens to wager on the outcome of battles.
Users can place bets on their favorite game characters and events in the battle, such as who makes the first move. If these wagers are successful, then the user earns an extra reward.
Also, Meme Kombat gaming activities are controlled by Artificial Intelligence (AI), making outcomes quite unpredictable and thrilling.
Important Meme Kombat UpdatesMeme Kombat's presale is officially over after crossing the $10 million milestone, showing massive interest from the community.However, interested buyers can still purchase the $MK tokens at $0.279 each before a likely price surge after its listing.
There are over 13,000 stakers in the Meme Kombat ecosystem, and over 9.64 million tokens have been distributed as rewards.When Meme Kombat's gaming platform launches, the utility of $MK tokens will increase, increasing its value.
However, we advise investors interested in this coin to carefully study the market and conduct research due to price volatility.
Final ThoughtsBitcoin is fast approaching its all-time high value, resulting in a rally for altcoins in the market.While Bitcoin might be out of Reach for most investors, some altcoins ranking among the top gainers today are viable options to join the market.
But before grabbing these coins, investors must remember that the market can change without warning signs.Proper risk management is vital to prevent devastating losses when such trend reversals occur.
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