Bonk Holders Turn Their Attention to a New ICO – Could This Be the Next Big Move?
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Holders of popular Solana meme coin Bonk ($BONK) are turning their attention to a new meme coin ICO after the low-utility meme coin posted notable depreciation recently.
Bonk rose 2% overnight to hit $0.00001702, putting its intraday performance roughly in line with the trillion cap market leader Bitcoin ($BTC), which rose 2.2% overnight and trades at $57,932 as of this writing.
However, Bonk is lagging behind Bitcoin and various leading meme coins relative to a fortnight ago and a month ago.
Bitcoin fell 2.7% in fourteen days and about 1% from its price thirty days ago; Bonk fell 8.2% over the and about 12.7% over the respective periods.
Bonk stands out as potentially the worst-performing meme coin with a billion-dollar market cap this month, compared to sector leaders like Dogecoin ($DOGE) and Shiba Inu ($SHIB), which have maintained their values more effectively.
Dogecoin recorded a slight 1% increase over the past fortnight, despite a monthly drop of 2%, closing at $0.1018.
Shiba Inu experienced a 5.8% decrease over the fortnight and a monthly reduction of 1.9%, ending at $0.00001334.
Pepe ($PEPE), the largest non-Doge meme coin, fell 7.5% weekly and 8.8% monthly, now trading at $0.057297.
However, Bonk shows signs of recovery, leading a 24-hour rebound among the top five Shiba Inu-themed coins.
Despite its volatility, Bonk trades slightly above its 30-day average of $0.0001672 with a rising RSI of 60, suggesting some stabilization in its market position.
As a low-utility meme coin, Bonk’s role in a post-adoption world is precarious and depends on how strongly the community is incentivized to HODL and pump their coins.
Thos
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