Final week, we skilled an ideal occasion of a meme token producing a lot publicity in the beginning of its launch that spikes its worth as much as an unimaginable excessive, then the keenness dies down nearly 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). Based on 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 almost 70% within the final seven days. However is that this it for BONK? Or is there a chance that the token worth might even see yet one more important improve?
May BONK Spike Up Once more?
BONK, which is the primary and at the moment solely meme token on the Solana community, has the potential to see higher days and comply with a growth path just like that of SHIB and DOGE. However, to ensure that this to achieve success, it should be supported by essentially the most important exchanges within the sector.
There’s one factor that almost all of the most well-liked meme currencies within the cryptocurrency enterprise all have in widespread, and that’s the incontrovertible fact that they’re all listed on essentially the most distinguished exchanges similar to Binance, Kraken, and Coinbase. DOGE and SHIB are two examples of those cash.
BONK will should be listed on a minimum of considered one of these exchanges to ensure that it to reclaim its worth and file a considerably important worth rise within the foreseeable future. This can be a transfer that may infuse great liquidity and help BONK to keep up its buying and selling quantity, which beforehand exceeded Ethereum’s.
Alternatively, it’s fairly unlikely that BONK will ever have the ability to purchase the identical diploma of widespread acceptance as different cryptocurrencies similar to Bitcoin and Ethereum.
Nonetheless, having the token listed on a good trade will do wonders for the worth of the token. Let’s see what the long run holds.