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PONKE Price Skyrockets 19% On Binance Support, What’s Next?

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The Solana meme coin Ponke (PONKE) saw its price soar by 19% following Binance’s announcement of a USDⓈ-Margined PONKEUSDT Perpetual Contract. Set to launch on November 4, 2024, this contract offers users up to 75x leverage, signaling increased opportunities for traders and heightened optimism among PONKE supporters.

PONKE Price Rockets Amid Major Binance Support

According to Binance’s official announcement, the PONKEUSDT perpetual contract will go live on November 4 at 12:30 UTC, providing traders with 75x leverage and 24/7 trading. Key features include a tick size of 0.00001 and a capped funding rate of ±2.00%, with funding fees settled every four hours. Binance’s Multi-Assets Mode further allows users to utilize BTC as collateral, offering flexibility in margin trading. However, the exchange may adjust contract specifications, such as funding fees, leverage, and tick size, based on evolving market conditions, ensuring the asset aligns with market risk levels.

PONKE, built on Solana, benefits from the blockchain’s high-speed and low-cost transactions, catering to online traders and gaming enthusiasts. The coin’s community-driven design, distinct tokenomics, and accessibility through major exchanges contribute to its market appeal. Its #ponkyarmy community is particularly active, with governance roles and a dedicated social media presence that drive further engagement and growth.

Will The Rally Sustain?

Following the Binance listing news, PONKE’s price surged by 19%, currently trading at $0.49, with a 24-hour low of $0.43 and a high of $0.56. Its trading volume climbed to $77 million in the last 24 hours, indicating heightened interest. PONKE, with a market cap of $274 million, continues to capture the attention of meme coin enthusiasts. Besides, recent Coinglass data also highlights increased open interest for PONKE, signaling optimism for further gains.

PONKE Price Skyrockets 19% On Binance Support, What's Next?PONKE Price Skyrockets 19% On Binance Support, What's Next?

Launched in late 2023 with a total supply of 555 million tokens, PONKE has already achieved an all-time high of $0.70 four months ago. Its deflationary burn mechanism and community-driven features have positioned PONKE uniquely within the Solana ecosystem, drawing both meme coin fans and investors seeking growth in Solana-based assets.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Ripple Provided The Blueprint To Defeat Gary Gensler

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Stuart Alderoty, the Chief Legal Officer of Ripple Labs Inc has spotlighted the firm’s role in fighting the crypto crackdown initiated by Gary Gensler as Chairman of the US Securities and Exchange Commission (SEC). With a legal battle spanning approximately four years, Alderoty send appreciation to the key stakeholders in the regulatory fight

In his post on X, Stuart Alderoty noted that though victory has a thousand fathers, some personalities played major roles. He spotlighted the company’s CEO, Brad Garlinghouse, as a leader who provided the courage the team needed to go on.

He also hinted at the role many in the firm’s legal department played as key in paving the way for the success achieved thus far. To the Ripple CLO, most of the core contributors in-house are nameless and do not seek “Twitter spotlight.”

Ultimately, he believes that Ripple provided the blueprint to “defeat Gary Gensler’s inexplicable war on crypto.” He reiterated that the team kept the door open long enough for the crypto industry to survive the regulatory crackdowns.

Ultimately, he mentioned the role played by the XRP Army. Alderoty thanks the community for their faith and support in the project overall.

The Gary Gensler Defeat in Context

There are a number of interpretations to the defeat implied by the Ripple CLO. Beyond the undisputed verdict that XRP is not in itself a security, Gary Gensler’s resignation date is now set at January 20, 2025.

This resignation came following the Kamala Harris defeat by Donald Trump in the just-concluded US Presidential election.

As many industry leaders noted, the crypto voters played a role in determining the outcome of the election. Many supported Donald Trump drawing on his promises to end the war on crypto.

Thus far, the signs of change are visible with his appointments. He picked Tether advocate Howard Lutnick as Commerce Sec, Scott Bessent as Treasury Secretary with Gary Gensler’s replacement yet to be unveiled.

While the next steps in the XRP lawsuit appeal are well defined, it remains to be seen if the next US SEC Chairman will revoke the appeal in the Ripple Lawsuit. In all, the community has counted a win with Trump in charge.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Will Polkadot Price Continue To Rally Following 100% Surge?

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T

Polkadot Price Breaks $8 Resistance: Is a Rally to $10 Next?

Amid the current crypto rally, Polkadot price surged 111% over the past 30 days, marking an impressive recovery. This includes a 40% daily jump, bringing DOT back above $8. The market has experienced heightened trading activity and stronger bullish pressure, driving the recent upward momentum. At the time of writing, the $8 mark, which was a resistance level, is now a support zone.

On the monthly chart, Polkadot price is moving toward a key horizontal resistance level near $10, which also represents a critical psychological barrier. Historically, the $10 zone has acted as both support and resistance during various market cycles. Therefore,  a successful breach could pave the way for a rally toward the $12.60 level.

Polkadot (DOT)Polkadot (DOT)
Source: X

Moreover, top technical indicators reveal a bullish outlook. The Relative Strength Index (RSI) has entered the overbought zone on the daily chart, reflecting increased buying pressure. This suggests that the market is favoring continued upward movement. However, traders remain cautious of a potential correction, as overbought conditions often precede short-term retracements.

Source: TradingView

Additionally, Polkadot (DOT) MACD indicator shows a strong bullish crossover, with the MACD line moving significantly above the signal line, indicating heightened bullish momentum. The rising histogram bars further confirm increasing buying pressure, suggesting that the uptrend could continue. 

Will Price Reclaim the $10 Level?

Despite this rally, a bearish reversal could lead to a retest of the $6.57 support level, with stronger downward pressure driving the Polkadot price back to its critical floor of $5. More so, analyst Rekt Capital emphasized the importance of closing the month above $8.61 to sustain the crypto rally.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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SHIB Lead Shytoshi Kusama Hints At TREAT Token Launch

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Shiba Inu lead Shytoshi Kusama has announced the launch of the TREAT token, a major addition to the SHIB ecosystem. Originally envisioned by SHIB’s creator, Ryoshi, Treat is designed to replace BONE as ShibSwap’s reward token and provide liquidity for SHIB, the ecosystem’s stablecoin.

Beyond these functions, TREAT aims to enhance governance and trust within the Shiba Inu ecosystem. This development reflects the community’s commitment to advancing decentralized finance (DeFi) capabilities and strengthening SHIB’s position in the crypto space.

TREAT Token to Strengthen Ecosystem with Kusama’s Vision

Shytoshi Kusama, the developer driving the Shiba Inu ecosystem, hinted at the anticipated launch of the TREAT token, exciting the SHIB community. The announcement marked Treat as a transformative addition to the ecosystem, with Kusama emphasizing its role in advancing Shiba Inu’s mission to improve trust, governance, and utility in decentralized finance (DeFi), on November 23.

In response to a recent reported incident where live streamer Jack Doherty scammed his followers with a fraudulent meme coin, Kusama highlighted the importance of accountability. He revealed that Shiba Inu’s ecosystem would incorporate “Karma and Reputation” systems, with TREAT powering these mechanisms. These systems aim to foster a trustworthy environment by rewarding positive contributions and discouraging scams, potentially solving trust issues in the crypto space.

While the token has yet to launch, the community eagerly awaits its arrival. Once live, Treat is expected to replace BONE as ShibSwap’s reward token. It will also provide liquidity for SHI and support governance within the Shiba Inu ecosystem.

Shiba Inu Rallies Amid Soaring Market Optimism

Analysts predict that Shiba Inu (SHIB) could double in price, following a growth pattern like Dogecoin. With increasing interest in meme coins, SHIB is gaining traction and could mirror Dogecoin’s success. Besides, it also comes as SHIB burn rate noted a major spike today, sparking market optimism.

Currently, SHIB price trades at $0.0000273, up by 10% in the last 24 hours. The coin has surged 55% over the past week, showing strong market momentum. Its 24-hour low and high are $0.00002437 and $0.00002794, respectively. SHIB maintains a market cap of $16 billion, with a 24-hour trading volume of $3.36 billion, demonstrating robust investor confidence.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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