Bonk (BONK) is the major Solana-based memecoin, and it has made the most gains on the network since the beginning of 2024. Analysts believe the stock is poised for a massive bull run after a healthy 50% drop. Its meteoric rise has allowed it to compete in the cryptocurrency market, outperforming renowned altcoins such as JUP.
With additional upside and liquidity entering the market, BONK is regarded as a solid investment in the current cryptocurrency bull cycle. BONK, which was launched in 2023, has been climbing since Q4 2023 and is expected to peak in Q1 2024.
Following in the footsteps of PEPE, BONK experienced tremendous price increase as the meme space saw fresh investment attention. Several factors contributed to the price increase, including a listing on Robinhood and Revolut.
Bonk became the third-largest meme coin in the space, after only Dogecoin (DOGE) and Shiba Inu (SHIB). Interestingly, despite the asset’s parabolic rise, whale wallets that hold significant sums of BONK tokens have yet to profit.
On March 9, 2024, BONK was valued at $0.00003178, up 25.83% in the previous week. Analysts predict that BONK will grow to $0.00003885 in March, propelled by the present bull market in the cryptocurrency industry.
Release: The purpose of this content is only to provide knowledge. Readers have to do their own research before making investment decisions.
