All articles tagged with #bonk
The crypto market experienced significant volatility this week, with MemeCore, Four, and Conflux leading gains, while Fartcoin, Bonk, and Virtuals Protocol declined sharply amid broader market pullbacks and sector-specific surges, especially in memecoins.
BONK has surpassed Pump.fun in daily bonded Solana tokens, indicating a structural shift in Solana's memecoin ecosystem where BONK is gaining long-term traction and becoming a key player, as evidenced by increased SOL lockups and bonded activity.
The crypto market experienced a volatile week with meme tokens like BONK, PENGU, and FARTCOIN leading gains, while utility-focused projects like PI, JTO, and KAIA declined. Major cryptocurrencies like Bitcoin and Ethereum remained steady, but the market was driven by hype and memecoin speculation, resulting in sharp price swings and increased volatility.
SEC Chair Gary Gensler, known for his critical stance on the crypto industry, used softer language when discussing potential crypto ETFs, including Solana meme coin BONK, on CNBC. This shift follows the SEC's recent approval of spot Ethereum ETFs, a move seen as influenced by political pressures and the upcoming 2024 election. Gensler also criticized crypto exchanges for practices not allowed on traditional stock exchanges.
Despite significant declines in memecoin prices over the last week, Shiba Inu (SHIB), Dogecoin (DOGE), and BONK have seen slight appreciation in the last 24 hours. Social dominance measures indicate increased attention on these coins, potentially leading to higher volatility. On-chain analysis suggests potential short-term surges, with SHIB possibly reaching $0.000030, DOGE retesting $0.20, and BONK jumping to $0.000024. However, the Relative Strength Index (RSI) and declining volumes may challenge the bullish bias, making the weekend price predictions uncertain.
Bitcoin, Ethereum, and Bonk experienced significant declines today, with Bitcoin dropping 2.8%, Ethereum down 5.2%, and Bonk falling 9.4%. The market was influenced by factors such as the ISM factory index improvement, impacting investor sentiment. The decline is also attributed to the potential impact of interest rate changes on technology and high-growth stocks, as well as the uncertainty surrounding the approval of cryptocurrency exchange-traded funds (ETFs). The future of these cryptocurrencies remains uncertain, with speculation and fundamental value driving the market.
Meme coins like PepeCoin, Dogecoin, and BONK have seen double-digit gains as the crypto market surges, with Pepe leading the charge with a 35.6% increase in the past 24 hours and a 421.8% increase over the past week. Other meme coins, including BONK, Shiba Inu, and Dogecoin, have also experienced significant gains. However, meme coins are known for their high volatility and often have little utility beyond speculation, with some facing low liquidity. Despite this, Dogecoin, originally created as a joke, has seen growing utility and applications such as payment integrations and the creation of unique assets on its blockchain.
In 2023, the cryptocurrency market saw significant gains, with Bonk (BONK), Injective (INJ), and CorgiAI (CORGIAI) being the top three performers, boasting increases of 7,302.9%, 2,748%, and 1,959.7% respectively. Bonk led the pack as a meme coin on the Solana network, while Injective's success was fueled by its decentralized exchange Helix and a $150 million ecosystem fund. CorgiAI became the favored meme coin on the Cronos blockchain. Despite outperforming major cryptocurrencies like Bitcoin and Ethereum, these top gainers are considered highly speculative and risky investments, with many similar low-liquidity tokens failing and causing losses for investors.
Bitcoin OG Kyle Chassé predicts that BONK, a meme-themed project on the Solana blockchain, will surpass Shiba Inu in terms of growth and adoption. Chassé believes that meme tokens are driving the adoption of cryptocurrencies, citing the success of Dogecoin, Shiba Inu, and Pepe. BONK has experienced explosive growth, surging 13,623% in the last 90 days, while Shiba Inu and Dogecoin saw much smaller gains. The recent listing of BONK on major exchanges like Binance and Coinbase has further boosted its prominence. The surge in BONK's value is attributed to a 30 million BONK token airdrop available to those who download the Bonk app through the Saga phone dApp store, creating an arbitrage opportunity.
Meme coin Bonk (BONK) continues its surge, with a 67% rise over the past week and a 441% rise over the last two weeks. Solana (SOL) also saw a 6% increase in the past week, trading at $74.11, thanks to a short squeeze during the Sam Bankman-Fried trial. Bonk, which runs on Solana, experienced tremendous gains, and Coinbase announced it would list the token. However, Dogecoin (DOGE) dropped by 8% over the week, while Shiba Inu (SHIB) saw a 4% plunge. Avalanche (AVAX) rose to become the 10th biggest cryptocurrency, overtaking DOGE, after JP Morgan's blockchain Onyx used the Avalanche blockchain subnet in a proof-of-concept trial. Bitcoin is down nearly 4% over the past week, trading at $42,190.