Final week, we skilled an ideal occasion of a meme token producing a lot publicity firstly of its launch that spikes its worth as much as an unimaginable excessive, then the passion dies down virtually as quickly because it started, ensuing within the token witnessing an enormous discount in worth.
The token in query is Solana’s meme token Bonk (BONK). In accordance with the knowledge given by CoinGecko on the time this text was written, BONK’s worth has decreased by 35% within the final 24 hours and by practically 70% within the final seven days. However is that this it for BONK? Or is there a risk that the token worth might even see one more important enhance?
Might BONK Spike Up Once more?
BONK, which is the primary and presently solely meme token on the Solana community, has the potential to see higher days and observe a growth path much like that of SHIB and DOGE. Nonetheless, to ensure that this to achieve success, it should be supported by essentially the most important exchanges within the sector.
There may be one factor that almost all of the most well-liked meme currencies within the cryptocurrency enterprise all have in frequent, and that’s the indisputable fact that they’re all listed on essentially the most outstanding exchanges reminiscent of Binance, Kraken, and Coinbase. DOGE and SHIB are two examples of those cash.
BONK will must be listed on not less than one in every of these exchanges to ensure that it to reclaim its worth and document a considerably important worth rise within the foreseeable future. This can be a transfer that can infuse great liquidity and help BONK to take care of its buying and selling quantity, which beforehand exceeded Ethereum’s.
However, it’s fairly unlikely that BONK will ever be capable of purchase the identical diploma of widespread acceptance as different cryptocurrencies reminiscent of Bitcoin and Ethereum.
Nonetheless, having the token listed on a good alternate will do wonders for the value of the token. Let’s see what the longer term holds.
