Meme coin projects have been attracting a lot of attention in the crypto market recently. While the price of DOGE has increased, BONK has attracted attention with a large token burn. Market analysts and investors continue to discuss the long-term effects of these developments.
Will Leading Meme Coin Dogecoin Reach $20? Expert Opinions and Whale Movements$DOGE
Analyst Javon Marks predicts that the DOGE price could rise to $20 in the current bull cycle. DOGE increased by 90% in 2017 and by 306% in 2021. In light of this data, Marks believes that DOGE could make a much bigger jump in 2024. Marks also said:
“Dogecoin’s past cycles have often seen huge gains.”
Currently trading at $0.3224, DOGE has increased by 2.57% in the last 24 hours. Whale movements are also increasing interest in DOGE’s ecosystem. According to IntoTheBlock data, the volume of major transactions has increased by 41% in the last 24 hours, exceeding $23 billion in total. This situation is giving bullish signals for the meme coin.
BONK’s Big Token Burn and Market Reaction$BONK
BONK drew attention by burning 1.69 trillion tokens on December 26, reducing its supply. However, this major step did not save the price. The token value fell by 7.2% after the burn. Community members argued that the burn being held a day later than planned led to a loss of trust. One user commented on social media:
"The price keeps dropping because you broke your promises. You're about to lose the community."
While BONK’s total supply dropped from 90.97 trillion to 89.28 trillion, the price subsequently recovered by 5%. However, the challenges in the market at large and the frustrations within the community make the future of the token uncertain.
Dogwifhat (WIF): Is a New Uptrend Coming?$WIF
WIF has recently tested the $1.80 support level and has started to recover and rise. According to technical analysis, this support level creates strong buying pressure every time it is tested. Currently trading at $1.92, WIF has increased by over 4% in the last 24 hours. According to Coinglass data, $16 million worth of WIF has been withdrawn from exchanges. This shows that investors prefer to hold the token for the long term. If WIF breaks the $1.945 resistance, it is possible to reach $2.65 with a 35% increase. However, if it remains below this level, the price can be expected to fall to lower levels.
Crypto assets such as DOGE, BONK and WIF attract attention with important dynamics that increase investor interest. DOGE's whale movements, BONK's token burn and WIF's technical analysis data create potential opportunities in the market. However, it should be noted that investors should act carefully and cautiously in these volatile markets.