Meme Coin Rollercoaster Ride — BONK’s Value Plummets Amidst Market Turbulence and Rising Contenders

While the meme coin phenomenon bonk (BONK) captivated customers on the Solana community, the cryptocurrency lately witnessed a 41% decline over the previous fortnight, accompanied by a 20.8% descent previously week. Following its mid-December peak to an all-time excessive (ATH), BONK has plummeted 57% from its ATH.

From Peak to Plunge within the Meme Coin Madness

BONK has witnessed a downturn over the previous two weeks and on Dec. 30, 2023, it has an intraday buying and selling vary of $0.00001387 to $0.00001536, and on the time of writing, it’s exchanging palms for $0.00001446, down 4.4% over the previous day. While the crypto asset misplaced 41% over the two-week span and greater than 20% this previous week, BONK continues to be up by 272% during the last 30 days.

However, with costs at $0.00001446, the worth of BONK is down 57% because the ATH of $0.00003416 per unit on Dec. 15, 2023. Despite the loss, BONK continues to be the third largest meme coin asset by market capitalization underneath DOGE and SHIB, and its total valuation in the present day is $887 million. BONK’s market cap is above the fourth largest meme coin CORGIAI’s $633 million valuation.

There are 56.02 trillion BONK in circulation as of Dec. 30, 2023, and 566,773 addresses maintain BONK. The prime ten wallets command 33.72% of the circulating provide and the highest 20 holders command 40.49% of all of the BONK. The prime 100 BONK holders command 55.08% whereas the highest handle holds 11.68%.

The future trajectory of bonk (BONK) stays unsure because the market’s whims might both additional its decline or foster a resurgence. Amidst its present volatility, different meme cash are vying for the highlight, every aspiring to duplicate BONK’s earlier success. As these contenders inch nearer, the panorama of meme cryptocurrencies continues to evolve, leaving BONK’s destiny within the stability amidst this aggressive fray.

What do you concentrate on BONK’s decline during the last two weeks? Share your ideas and opinions about this topic within the feedback part under.