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Bonk (BONK), the pioneering dog-themed meme coin built on the Solana blockchain, has experienced an impressive 10% surge in the past 24 hours, according to CoinMarketCap's data. This surge appears to be closely correlated with the recovery of Solana (SOL) from recent market setbacks.
The crypto market is a dynamic arena where new projects constantly emerge, and existing ones fight to maintain their momentum. In this fast-paced world, it's essential to keep an eye on the movers and shakers.
Bitcoin, Ethereum, and Solana are flat after a rough start to the week. But Solana meme coin BONK has bounced almost 7% since yesterday.
Solana's blockchain has taken the memecoin game by storm with two canine coins dominating the markets in recent months.
The crypto market remains in a holding pattern, neither charging bullishly forward nor diving into bearish despair. Investors might have taken Wednesday's price bump as a welcome change, but it lacked the oomph to reignite enthusiasm for top crypto to buy contenders like XRP, Cardano, and BONK.
Bonk (BONK), a dog-themed meme coin on the Solana blockchain, has experienced a notable recovery, rising by 9% in the last 24 hours. Launched on Dec. 25, 2022, as a community-driven initiative, Bonk seeks to enhance the Solana ecosystem by offering diverse utilities and use cases for its holders.
Bonk (BONK), a dog-themed meme coin built on the Solana blockchain, has made a remarkable comeback after a period of decline, surging by 9% in the past 24 hours. The coin, which was launched on Dec. 25, 2022, as a community-led project, aims to boost the Solana ecosystem by providing various utilities and use cases for its holders.
Solana meme coin Dogwifhat (WIF) soared as trading began on crypto exchange Bitget early Wednesday morning.
The meme industry has displayed massive volatility in its valuation since the start of the month. Further, top memecoins have lost significant value, indicating a decline in the interest of investors in it. The BONK price constantly traded in a consolidated range between $0.000012764 and $0.
This shift follows the launch of Bitcoin ETFs, contributing to a surprising turn in the crypto market. Interestingly, many altcoins, led by Ethereum (ETH), have outperformed Bitcoin, with ETH surging by 12.8% while Bitcoin experienced a 3.5% decline.
Altcoins and meme coins are currently navigating choppy waters in the cryptocurrency market. This follows Bitcoin's (CRYPTO: BTC) price roller coaster, where the apex cryptocurrency spiked to $49,000 last week after the launch of BTC exchange-traded funds (ETFs) in the U.S., only to experience a swift downturn to $41,000, as a ‘sell the news' effect kicked in.
Myro (CRYPTO: MYRO), a dog-themed memecoin on Solana (CRYPTO: SOL) surged 48% in the past 24 hours, backed by a 105% increase in trading volume. What Happened: Cryptocurrency exchange ByBit listed Myro for trading on its spot exchange, with deposits commencing from Jan.18 and trading enabled on Jan. 19.
Sellers have come back to the game, according to CoinStats.
The correction continues on the cryptocurrency market; however, there are some exceptions to this rule.
In recovery over the past seven days after last year's Bonk boom and the disappointing 2023 of DOGE.
Recent data indicates that despite a general decline in the crypto economy, the meme coin sector has experienced a 3.2% increase in the last 24 hours. Notably, dogecoin and bonk have observed respective surges of 1.2% and 9%. Additionally, Sunday saw several meme tokens achieving gains in the double digits.
Bonk Price Prediction: Amidst the market excitement over the anticipated approval of Spot Bitcoin ETFs, the Solana-based memecoin Bonk has demonstrated a remarkable recovery from its support level of $0.00000936 earlier this week. This bullish reversal scored 92% growth as the price hit a high of $0.00001795.
Which canine meme coin will lead the charge in 2024?
Solana's flagship meme coin, BONK, is making strategic moves to enhance its community adoption amidst intensifying competition.
Which one is likely to make more money in 2024? Let's take a look at this BONK vs Memecoin article in more detail.
Bitcoin (BTC) prices have declined after the much-awaited exchange-traded fund approval, confirming a sell-the-news scenario for the bellwether digital coin. Meanwhile, top tokens, including Memeinator (MMTR), Sui (SUI), and the Solana-based Bonk (BONK), appear ready for uptrends in the upcoming seven days.
The approval of an ETF by the SEC appears to have triggered a “sell the news” scenario, as previously forecasted by various analysts. Consequently, the price of BTC is experiencing a significant decline. In contrast, altcoins remain relatively unaffected by this decline.
Solana's meme coin, BONK, recently introduced a new feature, dubbed ‘PooperScooper,' to streamline user interactions and asset management within its ecosystem. This latest development represents a significant step in BONK's ongoing efforts to expand its reach and utility in the competitive world of digital currencies.
The weekend has started bearish for the cryptocurrency market, according to CoinMarketCap.
