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

While the meme coin improvement bonk (BONK) captivated users connected the Solana network, the cryptocurrency precocious witnessed a 41% diminution implicit the preceding fortnight, accompanied by a 20.8% descent successful the past week. Following its mid-December highest to an all-time precocious (ATH), BONK has plummeted 57% from its ATH.

From Peak to Plunge successful the Meme Coin Madness

BONK has witnessed a downturn implicit the past 2 weeks and connected Dec. 30, 2023, it has an intraday trading scope of $0.00001387 to $0.00001536, and astatine the clip of writing, it is exchanging hands for $0.00001446, down 4.4% implicit the past day. While the crypto plus mislaid 41% implicit the two-week span and much than 20% this past week, BONK is inactive up by 272% implicit the past 30 days.

However, with prices astatine $0.00001446, the worth of BONK is down 57% since the ATH of $0.00003416 per portion connected Dec. 15, 2023. Despite the loss, BONK is inactive the third largest meme coin asset by marketplace capitalization nether DOGE and SHIB, and its wide valuation contiguous is $887 million. BONK’s marketplace headdress is supra the 4th largest meme coin CORGIAI’s $633 cardinal valuation.

There are 56.02 trillion BONK successful circulation arsenic of Dec. 30, 2023, and 566,773 addresses clasp BONK. The apical 10 wallets bid 33.72% of the circulating proviso and the apical 20 holders bid 40.49% of each the BONK. The apical 100 BONK holders bid 55.08% portion the apical code holds 11.68%.

The aboriginal trajectory of bonk (BONK) remains uncertain arsenic the market’s whims could either further its diminution oregon foster a resurgence. Amidst its existent volatility, different meme coins are vying for the spotlight, each aspiring to replicate BONK’s earlier success. As these contenders inch closer, the scenery of meme cryptocurrencies continues to evolve, leaving BONK’s destiny successful the equilibrium amidst this competitory fray.

What bash you deliberation astir BONK’s diminution implicit the past 2 weeks? Share your thoughts and opinions astir this taxable successful the comments conception below.