Ponke (PONKE), a Solana-based meme coin, has surged by 48.2% as trading volumes for the token unexpectedly exploded in the past 24 hours.
According to data from CoinMarketCap, $70.9 million worth of PONKE have exchanged hands during this period resulting in a 700% surge. This figure accounts for 55.3% of the token’s circulating supply.
PONKE is the 33rd most valuable meme coin based on CMC rankings with a market cap of $108.3 million. The token was listed by Kraken in October last year. However, Raydium, Bybit, and Gate.io currently account for nearly 40% of its daily trading volumes.
Also read: Best Solana ICOs and Presales to Invest in February 2025
Despite today’s surge, PONKE still accumulated a 35.2% retreat since the year started. On February 10, the project’s official X account announced that they partnered with Wormhole to make PONKE available on the Base blockchain.
Ponke is now on @base!
Seamlessly move $PONKE between Solana and Base with https://t.co/4Ae973TyK1, powered by @wormhole. pic.twitter.com/fsmYXulG40
— Ponke (@ponkesol) February 10, 2025
Rumors have been circulating since then that this could be a first step to get Coinbase to list PONKE in its trading platform.
This meme coin has a robust community backing it. Its social media channels boast thousands of followers, starting with its X account, which is followed by nearly 158,000 users.
Meanwhile, its YouTube channel, which periodically uploads videos of the meme in different funny situations, recently reached 50,000 subscribers.
PONKE Needs a 64% Jump to Reverse its Downtrend
PONKE is currently trading 75.3% below its all-time high from November 2024, when the token’s price was lifted alongside most meme coins amid Donald Trump’s victory in the Presidential election.
Today’s jump barely registers in the grand scheme of things when we look at the daily chart for PONKE as the token has been on a sharp downtrend since its November record.
However, it could be an early signal of an upcoming trend reversal as momentum readings show a steep climb. In this regard, the Relative Strength Index (RSI) moved above the signal line in early February.
Moreover, the MACD’s histogram shows steadily rising positive readings in the past couple of days, confirming that momentum is once again picking up its pace.
To confirm that this is a full-blown trend reversal, the price must first move above its previous lower high, which currently stands at $0.3200. Such a move would demand a 64% increase based on today’s price.
Apart from PONKE, this Solana scaling protocol is rapidly becoming one of the best ICOs of 2025 as it solves one of the network’s most pressing issues.
Solaxy ($SOLX) Eliminates Solana’s Congestion Issues Once and For All
Solaxy ($SOLX) is a layer-two scaling solution that alleviates the Solana mainnet’s burden by bundling transactions offline.
The rising popularity of meme coins like $PONKE and $TRUMP along with the rapid expansion of Solana’s decentralized finance (DeFi) ecosystem have evidenced the need for this kind of protocol.
Solaxy is moving rapidly to test its Solana rollup and developers recently provided an encouraging update on their progress on February 15 when they announced an integration with Hyperlane to support the transfer of assets.
The project has managed to raise $22.8 million from investors to launch the solution. Based on its roadmap, Solaxy could be deployed right after the presale event ends on February 28.
At its discounted price of $0.001642, $SOLX offers significant upside potential to early buyers as the utility token could jump right after it is listed on exchanges. In addition, staking rewards for investors willing to help secure the L2 protocol currently stand at 178%.
The presale price will increase in the next 26 hours to compensate the most loyal supporters. To buy $SOLX, head to the Solaxy website and connect your wallet. Either swap ETH, USDT, or BNB tokens or use a bank card to make your investment.
