PONKE Arguably Been One of the Best Memecoins of 2024 So Far, But Still a Long Way Off from a $1B Marketcap

PONKE has arguably been one of the best memecoins of 2024 so far judging by its impressive performance. However, this Solana-based memecoin is still a long way off from a $1 billion marketcap. This could highlight substantial opportunities ahead.

PONKE has had an impressive run so far in 2024, emerging as one of the top memecoins judging by its performance. However, despite being a Solana-based memecoin, PONKE is still a long way off from a $1 billion marketcap. This could highlight some substantial opportunities ahead.

A look back at the initial PONKE rally this year may help provide a rough idea of just how well it performed. The memecoin traded as low as $0.0093 in December 2023 following its listing and availability for public trading.

PONKE peaked at $0.715 just since months later and that has been its historic high since then. In other words, the price managed to rally by more than 7,000% within its first 6 months trading, confirming robust demand.

PONKE Bulls Back in Action After June Pullback

PONKE’s run-up until June was the first major parabolic price action. It was bound to yield to profit taking, hence the first major pullback. This lasted up until the first week of September.

However, its performance was mostly bullish since then. The memecoin exchanged hands at $0.49 at press time which was equivalent to an 80.78% rally from the lowest price point in October. But if we consider its peak within the last 24 hours, then it pulled off a 102 gain.

The performance confirmed that PONKE bulls were back after the June-September pullback, hence revealing it still had robust market appeal. Even better still, the latest peak was a 164% premium from its lowest price point in September.

The upside suggests that PONKE may already be in the early stages of its next major run-up. The strong momentum was a sign that investors were still optimistic about its bullish prospects in the months to come.

PONKE Set to Become a $1 Billion Memecoin?

One of the main reasons for this was the fact that it still had a marketcap lower than $1 billion despite its bullish performance so far. It had a marketcap of $272.28 million at the time of writing.

Memecoins are considered to be in the big leagues when their marketcap crosses $1 billion. PONKE was just a quarter-way there, and this may work in its favor because it can be seen as an attractive memecoin with a low market cap.

At a $1 billion marketcap, PONKE will be worth $1.8. This means $100 invested at the press time price could be worth $368. It is also worth noting that PONKE outperformed some of the memecoins in the top 10 list based on daily volumes.

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