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$BONK short term price action target, a break above the orange line will led us to more highs

10 Altcoins That Could Turn $1,000 into $171,000! 🚀 ChatGPT has identified 10 altcoins with high growth potential, reminiscent of Solana’s (SOL) incredible 17,100% ROI in 2021! 🤯 Here are the top picks: 1️⃣ Ripple ($XRP ) 🚀 – With legal clarity and potential ETF approval, XRP could skyrocket to $15! 2️⃣ Dogecoin ($DOGE ) 🐶 – Backed by Elon Musk, DOGE might see explosive gains if an ETF is approved. 3️⃣ Bonk ($BONK ) 🚀 – This meme coin could revisit its November high of $0.000055, offering significant returns! 4️⃣ Arbitrum ($ARB) 🔒 – As a key player in Ethereum scaling, breaking the $0.78 resistance could send ARB soaring. 5️⃣ Sui ($SUI) 🔥 – Trading at $4.37, Sui’s cutting-edge blockchain could push its price beyond $5! 6️⃣ Fetch.ai ($FET) 🤖 – AI-powered solutions make FET a strong contender, currently priced at $1.25. 7️⃣ SPX6900 ) 🚀 – A meme coin with multi-chain capabilities, SPX could deliver massive gains. 8️⃣ Cardano ($ADA) 🔍 – A top dApp platform, ADA could surge to $3 if it breaks key resistance. 9️⃣ Ondo Finance ($ONDO ) 📈 – Leading real-world asset tokenization, ONDO shows impressive 500% annual growth! 🔟 (Honorable Mention) Cosmos ($ATOM) 🌐 – Its interoperable ecosystem makes ATOM a potential hidden gem! Which of these altcoins will be the next Solana? Stay informed and always do your own research! follow me for more updates

BONK Price Drops 17%—Is It Time to Buy This High-Potential Altcoin Instead?

The memecoin market traded lower on the 29th of January, with the total market capitalization of these tokens falling by around 2% to $92 billion. However, Solana [SOL]-based meme coin dogwifhat [WIF] defied these bearish trends after registering a 12% gain in 24 hours to trade at $1.32 at press time. WIF is rebounding after dropping to an 11-month low below $1. The dip has attracted buyers, as data from CoinMarketCap showed that trading volumes have surged by 210% to $1 billion at press time. At the same time, short liquidations surged to $2M per Coinglass, marking the highest level in two weeks. With short liquidations adding to the buying pressure, is WIF prime for a strong rebound, or will bears regain control? dogwifhat’s bounce from multi-month lows coincided with strong buying volumes, suggesting that a continuation of the bullish trend was likely. However, for bulls to remain in control, WIF needs to flip resistance at the 0.786 Fibonacci level ($1.62). The Relative Strength Indicator (RSI) indicator has made a sharp move north and formed a buy signal after crossing above the signal line. Nevertheless, the RSI value remains in bearish territory at 40. For a bullish momentum to be confirmed, this indicator needs to rise above 50. The forced closure of $2M short positions triggered a surge in buying pressure that saw WIF make a strong rebound above $1. In fact, WIF’s liquidation heatmap with a 24-hour lookback period shows how the memecoin rebounded as these positions were being closed. The next liquidation cluster that lies above the press time price is at $1.37. If WIF hits this price, and short sellers become forced buyers, it could strengthen the uptrend. At the same time, traders should watch out for a drop to $1.26 that could trigger long liquidations. A drop below $1 to $0.97 could also cause a steeper downtrend due to the large cluster of liquidations at this level. The Solana memecoin space has been abuzz with activity following the launch of Official Trump (TRUMP), which is currently the largest SOL-based meme with a $5.57 billion market capitalization. WIF, with a $1.32 billion market cap, ranks as the third-largest after BONK [BONK]. If WIF can extend its recent gains and sustain the uptrend, it could flip BONK in the near term. However, to reclaim its top spot, WIF needs to rally past $5. $WIF