The popular Solana (SOL) memecoin, Bonk (BONK), has seen a sharp increase in both price and market capitalization in recent weeks. Because of the surge in altcoins and memecoins supported by the pump of Bitcoin, BONK has been rising. Investors think there is still potential for the meme coin to soar further, given its 160% gain over the last month.
Bonk has increased by nearly 640% since the beginning of 2024, which means that its owners are raking in enormous profits. Investors have been purchasing BONK in large quantities since it was listed on the Binance market in 2023, which has caused its liquidity and trading volume to soar to $600 million.
Demand for BONK has raised expectations that it may one day compete with the industry’s top memecoins, given that the token’s market capitalization at its all-time high (ATH) was over $1 billion. Investors are convinced that BONK will continue to rise because analysts are quite bullish about the meme coin area.
BONK’s value on March 18, 2024, was $0.0000243, a decrease of 18.82% over the previous week. The correction in the cryptocurrency market as a whole is the cause of the retreat. According to experts, BONK will rise on stronger demand and reach $0.0000385 by the end of March.
Release: The purpose of this content is only to provide knowledge. Readers have to do their own research before making investment decisions.
