Memecoins
This meme coin goes up 10% today, knocking off FLOKI and BRETT: Details
TL;DR
- Bonk Inu (BONK) price increased by 10%, reaching a market cap of over $1.7 billion and becoming the fifth largest meme coin.
- It has seen significant growth since its launch in late 2022, with analysts predicting further gains.
BONK in motion
Most major cryptocurrencies, such as Dogecoin (DOGE), Shiba Inu (SHIB), Pepe (PEPE), and others, are in the red today (July 2), as the sector has lost its momentum gained the day before. However, not all assets are underperforming, with Bonk Inu (BONK) being one such example.
The Solana-based cryptocurrency’s price increased by 10% on a daily basis as its market cap surpassed the $1.7 billion mark. In doing so, it toppled Floki Inu (FLOKI) and Brett (BRETT) to become the fifth-largest token in the cohort.
Several analysts have noted BONK’s recent progress, envisioning even higher gains in the near future. A popular X user predicted that the asset could turn into “a completely different trade” if it hits the $0.000027-$0.000028 area.
Another one, using the Jakey X handle, think that all crypto participants within the Solana ecosystem should have some exposure to BONK:
“BONK has arguably played a major role in the rebirth of the SOLANA ecosystem, from dark days with a very uncertain feeling for most. They decided to do something that no one would have thought they would do, an airdrop that helped many people get back on their feet and reminded us why we came to SOLANA in the first place.”
BONK’s Performances Over the Years
The Solana-based cryptocurrency was launched in late 2022, but started making headlines about a year later. In December 2023, its price skyrocketed, while its market cap surpassed a staggering $1.5 billion.
The rapid advance was likely fueled by huge investor interest, support from major exchanges and favorable market conditions. BinanceBybit, Coinbase, OKX and many others have allowed trading services with the asset.
The year 2024 has been even more fruitful for BONK, which reached an all-time high at the end of May. Over the past month, however, its price has dropped by 20% (according to data from CoinGecko).