Bullish Prediction for BONK in the Long Term
The financial commentator Altcoin Sherpa is warning that Bonk, a Solana-based Dogecoin contender, will soon endure a drop in price, akin to what is known as a ‘dead cat bounce.’
He estimates that Bonk’s market value will plummet below $0.00000989, climb to $0.0000170, and then drop below the initial $0.00000989 mark.
Advice to the Crypto Investor and Why
Additionally, Altcoin Sherpa suggests that now is the right moment for investors to liquidate their shares should other Solana meme coins follow suit. It’s his belief that even though Bonk will see continued success in the future, it will require more time to amass wealth and form a foundation.
An Optimistic Future for Solana Meme Coins
Despite the short-term downward forecast for Bonk, Altcoin Sherpa is confident that the coin and others like it on Solana will witness a sizeable turnaround in the future. However, he warns that these coins will need time to simmer and regain attention.
BONK’s Impressive Performance Despite Recent Market Trends
Altcoin Sherpa’s cautious words matched the current trading rate of BONK standing at $0.0000139, reflecting a remarkable 230% surge in the past month.
This recent performance underscores meme coins’ unstable nature and proneness to rapid price fluctuations.
Hot Take
In a recent update, Altcoin Sherpa mentioned Ethereum (ETH) as approaching the significant price point of $3,000. The current price of Ethereum is $2,368, experiencing a minor 0.37% decrease in the last 24 hours.
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