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Solana-based tokens, including BONK, POPCAT, and WIF, are showing strong growth and increased trading volumes amid a broader cryptocurrency market recovery
As the global crypto market makes a recovery from a recent downturn, Bitcoin and popular altcoins are following suit. BONK, a meme coin based on the Solana ecosystem, is also making a mark in the market rally.
As the global crypto market makes a recovery from a recent downturn, Bitcoin and popular altcoins are following suit. BONK, a meme coin based on the Solana ecosystem, is also making a mark in the market rally.
Bonk rose sharply on Tuesday as the meme coin's treasury outlined a proposal to burn 84 billion BONK. At the time of writing, the meme coin's price was up 25% to trade around $0.00002649 as it led Solana meme coins higher.
Solana-based meme coins Bonk (BONK) haw outshined all of the meme coins in the top 100 cryptocurrencies with over a 25% surge in the last 24 hours. At the time of writing, BONK was up 24.
BONK is getting close to flip WIF and become the biggest Solana-based meme coin.
As Bitcoin sustains above $57,000, the market sentiments have turned bullish as the traders appear to be hopeful of the upcoming trend. The memecoins gained momentum with the BONK price leading the rally, followed by Pepe and other tokens.
Memecoins rebounded with a strong rally Monday, with popular tokens like Bonk and Pepe featuring among the market's best performers. What Happened: Solana (CRYPTO: SOL)-based canine coin, Bonk, became the biggest gainer in the last 24 hours.
BONK's price was bearish in the early hours of the day before support was established at the intra-day low of $0.00002. However, with the announcement of the treasury proposing an 84 billion token burn, the digital asset witnessed a 10% surge, reshaping investor sentiment and market trend.
Bonk's (CRYPTO: BONK) recent relative strength in a downtrending market caught the attention of prominent traders, who are eager to see more upside if market conditions improve. What Happened: Prominent trader Cold Blooded Shiller pointed out Bonk's strength on the daily chart.
Recent market volatility has investors panicked as bitcoin ($BTC) and the altmarket decline. To mitigate the fallout from traditional investments, investors are looking to alternative opportunities, such as memecoins, to help guide them through the uncertainty.
On Monday, $BTC shot up to touch what is now resistance at $58,000. This impetus has spread through the crypto market, and as usual, memecoins have bounced the hardest.
Meme coins have experienced significant price increases recently, and several factors are contributing to this surge. Here are the key reasons driving the current pump in meme coins like Dogecoin, PEPE, and BONK.
The crypto market started 2024 off with a bang, with Solana memecoins taking charge. Memecoins often have no utility but bring strong community support to the very serious industry.
If a certain pattern holds, the memecoin may retest another critical zone on the charts.
BONK price is seemingly facing a bearish outcome simply due to the lack of support from the investors.
Major meme coins BONK, WIF, BRETT, and PEPE have all surged over 15% amid a broader meme coin rally as Bitcoin (BTC), the largest crypto asset, has climbed 3% in 24-hour trading.
Amid the dramatic crash of cryptocurrency markets caused by the start of Mt. Gox compensation payouts, the largest meme coins look strong.
Unlike other cryptocurrencies, the Solana meme coin, Bonk price is up on Friday, defying widespread headwinds. The pump comes amid a Bitcoin price crash below $55,000 triggered by selling pressure emanating from key events such as the defunct Mt.
It was one of the lousy days for the crypto markets, as billions in market cap just whipped out in a few moments. While the markets still remain under bearish captivity, some of the tokens are fighting hard to eliminate bearish influence.
In the rapidly evolving world of cryptocurrency, meme coins like Bonk (BONK) often capture investor interest with their viral marketing and community-driven value. However, analysts are increasingly divided on BONK's long-term potential. While its initial surge attracted a lot of attention, sustaining that momentum has proven challenging.
Will Solana memecoins prevail after an impressive rally in the first half of 2024?
This has almost completely reversed BONK's progress since last Thursday, sitting at only a 0.47% gain. While noteworthy, it is less severe than the losses experienced by major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), which have retraced.
BitMEX, one of the largest digital asset exchanges, has rolled out a meme coin basket index.
