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.

A recap of 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 Dominate in October

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.

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. However, if we consider its peak within the last 24 hours, then it pulled off a 102% gain.

PONKE price action / Source: TradingView

The performance confirms 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.

Will PONKE Become a $1 Billion Memecoin?

One of the main reasons for these 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.

PONKE will be worth $1.8 at a $1 billion marketcap. 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.

BREAKING: 16 Million $PONKE Tokens Locked, Valued at $7.5 Million USD https://t.co/zHQrYm7v8o pic.twitter.com/Gzaw2aogzt

— VrajP2.eth (@VrajP2_) October 31, 2024

In conclusion, the latest performance suggests that PONKE could be among Solana memecoins with the most potential for growth in the next few months.

The post Is PONKE The Big Solana Memecoin Opportunity For 2025? appeared first on The Coin Republic.