Bonk: The Meme Crypto on Solana Faces a 70% Price Dump
The meme crypto Bonk (BONK), which is developed on the Solana blockchain, has experienced a significant price dump of 70% from its all-time high in mid-December 2023. The price of Bonk dropped from $0.000031 to $0.000009. Similarly, Solana (SOL) also saw a price decline, slipping to $85.7 from its annual high of $123.
Recovery in the Last 24 Hours
However, both Bonk and Solana are showing signs of recovery in the last 24 hours. Solana has seen a pump of +13%, while Bonk has experienced a +33% pump. Currently, Solana is priced at $101.65 and Bonk at $0.000014.
This trend of recovery can also be observed in other memecoins based on Solana, such as Dogwifhat (WIF). Dogwifhat faced an 80% dump, dropping from $0.32 to $0.06, but has now seen an 84% price pump to reach $0.15.
Trends of DOGE and SHIB
Bonk ranks third among crypto memes by market capitalization, following Dogecoin (DOGE) and Shiba Inu (SHIB). DOGE has experienced a 20% dump over the past month, with the price falling from $0.10 to $0.07. However, in the last 24 hours, DOGE has seen a 3.3% pump and is currently priced at $0.08.
SHIB reached its lowest point at $0.0000086 but has since recovered with a 4.7% price pump in the last 24 hours. At present, SHIB is valued at $0.0000095.
Adding Humor to the Solana Ecosystem
Bonk has brought humor to the Solana ecosystem during a time when it was needed. Since its launch in December 2022, Bonk has gained popularity not only within the Solana community but also across the entire crypto community. In just one year, Bonk managed to be listed on Coinbase and achieved its all-time high price on the same day.
Hot Take: Bonk’s Rollercoaster Ride
Bonk, the meme crypto developed on Solana, has experienced both significant price dumps and recoveries recently. Despite facing a 70% price dump from its all-time high, Bonk is showing signs of recovery along with other memecoins based on Solana. The crypto market has seen fluctuations in prices for popular memecoins like Dogecoin and Shiba Inu as well. The volatility of these memecoins highlights the speculative nature of the market, but it also adds an element of excitement for traders and investors. Overall, Bonk’s journey reflects the unpredictable nature of meme cryptos and their ability to capture attention and generate both enthusiasm and skepticism.
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