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A Solana-based (SOL) meme asset has nearly doubled up just days after its community overwhelmingly passed a resolution to burn its supply. In a new announcement on the social media platform X, the decentralized autonomous organization (DAO) for memecoin Bonk (BONK) says it has voted to reduce the token's supply by billions.
BONK, a Solana meme token, recently went on a surge that saw it pushing weekly gains above 70% after community members voted in favor of a burn proposal. Recent market dynamics have seen the value of BONK, along with the majority of meme coins falling in April.
While the cryptocurrency market is experiencing a correction today, with some altcoins, including meme coins, trading in the red over the last 24 hours, the meme coin sector has actually seen positive gains over the past seven days.
Bonk(BONK) has been making significant moves in the last 7 days to the point that it is, at press time, the best-performing top 100 cryptocurrency within the time frame.
The last seven days have seen a significant resurgence in bullish sentiments in the BONK market.
Many BONK coin price prediction analysis currently favour the upside, as meme coin market sentiment is mostly positive, with a touch of FOMO. BONK went down on Thursday as its recent bullish momentum fizzled out.
The top crypto prices today crashed again as the Bitcoin (BTC) price fell to the $67,000 level. In addition, the Ethereum (ETH) price dropped below the $3,200 mark.
Bonk (BONK), the famed meme coin of the Solana ecosystem, recently noted a massive rally in the span of four days.
Bitcoin's movement around $66,000 is starting to raise some questions, with the digital gold struggling to punch through. The 50-day EMA is represented by the blue line on the chart.
Major Solana meme coins BONK and WIF are on fire, posting considerable jumps in the last 24 hours despite the broader market correction.
In the midst of the current meme coin frenzy, Bonk (BONK) has become a prominent player, seeing a rise in its value after a recent market downturn. This sudden increase in price coincides with the conclusion of the fourth Bitcoin halving, adding to the enthusiasm among cryptocurrency enthusiasts.
TL;DR Hedge funds show growing interest in memecoins due to their high potential returns. Stratos achieves notable profits by investing in Dogwifhat, exemplifying the lucrative potential of these investments. Despite present skepticism, the evolution and improvement in memecoin infrastructure is attracting institutional investors to this emerging market.
The value of several meme coins has more than doubled, registering an increase of 100% from their lowest levels this month. After the Bitcoin halving event, the price of BTC quickly initiated an upward trend, maintaining its momentum above the $66K level. In contrast, memecoins began their surge slowly.
Crypto Price Prediction: The cryptocurrency market has witnessed a fresh relief rally since last week following the completion of Bitcoin Halving. The renewed demand pressure signaled a local bottom formation for BTC at $60000, propelling its price to $67000.
The cryptocurrency market this week necessitates a thorough analysis that illuminates some of the top performers. Each coin, from Hedera Coin to Solana Coin and Bonk Coin, can be distinguished from the others based on their characteristics and potential for growth.
Two Solana-based memecoins, Bonk (BONK) and Dogwifhat (WIF), have registered substantial gains over the past 24 hours. BONK recorded a 35% increase, while WIF climbed by 19%, positioning them among the top three gainers in the top 100 cryptocurrencies by market cap today.
This approval, despite not reaching a quorum, saw an overwhelming 99.9% of participating holders vote in favor. This indicates broad support within the community for this deflationary move.
The Solana ecosystem has displayed a significant uptrend in its valuation over the past weekend, indicating a rise in bullish sentiment for this category. Moreover, the SOL-based memecoins have recorded a bullish trend reversal, suggesting a positive price action for these tokens.
BONK, a prominent meme coin within the Solana ecosystem, has witnessed a remarkable rally in a market that has recently been characterized by cautious optimism.
BONK is one of the sector's best performers, with its price spiking by almost 30% daily.
The top crypto prices today recorded significant gains as the Bitcoin (BTC) price extended beyond the $67,000 level. In addition, the Ethereum (ETH) price inched closer to the $3,300 mark.
FLOKI and BONK had remarkable growth over the weekend after recovering from the Bitcoin dip at the end of last week. These tokens have been some of the hottest topics during this bull run, with FLOKI and BONK increasing by over 500% and 87%, respectively.
Though BONK's surge was a move in the positive direction, there are some factors that could cause trouble.
Crypto bull markets like this strike only once every four years. And this time, we have a new tool to help us make the most of this boom.
