At a time when the crypto marketplace is seeing low costs, every other meme coin referred to as BONK has entered the race. This coin, not like its predecessors, is at the Solana blockchain and is now cementing itself as essentially the most a success meme coin to return out of the ecosystem. The cryptocurrency has already grown all of a sudden over the past week, however is it nonetheless a great time to go into?

Will have to You Purchase BONK?

Like with any meme coin, the cost of BONK took off with over the top shilling on social media. This got here from influencers with massive followings and as soon as the FOMO kicked in, the coin all of a sudden rose. Even now, it’s nonetheless seeing a large number of hobby with buying and selling quantity crossing $16 million within the remaining 24 hours.

Given this, it’s imaginable that the meme coin has reached or is nearing its top. With an over 2,000% building up already, purchasing now may just go away overdue traders maintaining the bag as soon as it starts its descent, particularly within the present marketplace local weather with adverse stipulations.

Then again, at the turn facet of that is the chance that the coin isn’t executed with its rally. It was once the similar means with different meme cash similar to SHIB and DOGE, which had grown such a lot that it was once concept they’d reached their top however they persevered surging.

The one positive factor at the moment is that BONK will without a doubt get to some degree the place it’s now not ready to maintain the hype. As soon as this occurs, traders must be expecting to look any such decline development as has been recorded in each DOGE and SHIB previously yr.

BONK price chart from TradingView.com

Is Meme Coin Season Again?

The expansion of BONK over the past couple of days may just simply misinform one into believing that the meme coin season was once returning however that isn’t the case. But even so, the Solana-based cryptocurrency, no different meme cash are rallying available in the market recently.

As an example, the biggest meme coin available in the market, Dogecoin, is also seeing some inexperienced at the moment however it’s only seeing 1% features within the remaining 24 hours. The similar is the case for Shiba Inu which is handiest up 1.10% in the similar time frame. 

To match, BONK’s value is up over 110% within the remaining day on my own, consistent with knowledge from Coinmarketcap. If the cryptocurrency had precipitated a go back of the meme coin bull marketplace, then there could be identical features throughout different cash however the costs of those property stay muted within the period in-between.

BONK is handiest 10 days outdated after being introduced on December 25. The challenge is known as “The primary Solana Canine Coin for the folk, by means of the folk,” and with a $107 million marketplace cap as of Wednesday, it’s formally the biggest meme coin within the Solana ecosystem.

Observe Best possible Owie on Twitter for marketplace insights, updates, and the occasional humorous tweet… Featured symbol from Twitter, chart from TradingView.com



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