The original meme coin, Dogecoin (DOGE), started the meme coin trend. However, followers such as Sihba Inu, who entered the market later, also found a place for themselves. Nowadays, a booming meme coin is attracting attention. Bonk, the first dog-themed meme coin on Solana, has attracted investors’ attention. According to crypto analyst Andreja Stojanovic, BONK has more fuel in the tank.
While DOGE, SHIB were resting, BONK exploded!
As you follow from Kriptokoin.com, meme coins once created a storm in the market. In particular, Dogecoin, to which Tesla CEO Elon Musk showed interest, became the favorite of the market. However, this wind gave way to stagnation over time. Trying to follow in the footsteps of other dog-themed cryptocurrencies like Shiba Inu (SHIB) and Dogecoin (DOGE), the token still has some staying power due to its connection to the launch of Solana smartphones. But come November, Bonk has made a comeback amidst the current crypto market rally. According to CoinMarketCap data, its value has increased by a staggering 2,000% in the last 30 days.
BONK 1 month price chart. Source: CoinMarketCapBinance, the world’s largest cryptocurrency exchange by volume, has added rolling futures support for Bonk, according to an official announcement on Wednesday, November 22. This news served as a new catalyst for the meme coin. This pushed its small-scale DOGE rival to the top.
Can BONK rise another 2,000%?
Considering that Bonk is not as popular or well-known as meme coins like Dogecoin (DOGE), Floki Inu (FLOKI), or Pepe (PEPE), its rise in the current cryptocurrency rally is even more impressive. At the time of writing, its price was $0.0000043. So the token has increased by approximately 15% in the last 24 hours. BONK has been following an upward trend since November 9. It increased by 59.91% in the last seven days. It also recorded a remarkable 2,000% increase over the previous month. Therefore, it exhibited a stable upward momentum in all its charts.
BONK 1-day price chart. Source: CoinMarketCapIts steady rise, listing on Bitmex on Monday, and continued futures trading on Binance indicate that DOGE rival Bonk could become the main meme coin of the current rally, with the potential to gain 2,000% or more before the end of the year. Still, it’s important to remember that the crypto market can be fickle, as evidenced by Solana’s own rise, which despite appearing nearly unstoppable in the first two weeks of November has slowed and even reversed slightly in the last 7 days.
The opinions and predictions in the article belong to the analyst and are definitely not investment advice. We strongly recommend that you do your own research before investing.
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