Is BONK Price Heading to Zero? Drops 8.5% as Solana Meme Legend SEAL Raises $250,000
Solana’s second biggest canine meme coin, Bonk ($BONK), tumbled 8.5% overnight as meme coins take some of the heaviest losses amidst a market-wide dip.
Bonk now trades at $0.00002525. At this price, it’s about 7% more expensive than it was last week.
These numbers make for a more volatile reading than those from market leaders Bitcoin ($BTC) and Ethereum ($ETH), but they are more stable than other high-market cap meme coins.
The world’s favorite cryptocurrency with a market cap of over a trillion dollars, Bitcoin, dropped 1.4% in the last 24 hours but grew 3.8% over the seven days and now changes hands around $64,275.
Its number one contender, the most commercially important blockchain Ethereum dropped 2.4% overnight but appreciated 1.8% over the seven days and trades at $3,124 as of this writing.
Solana-based meme coins like BONK fared much better than their Ethereum or proprietary blockchain counterparts over the last week.
Solana projects that posted notable seven-day appreciation include DogWifHat ($WIF), which grew 30%. Book of Meme ($BOME) rallied 27% and Popcat ($POPCAT) mushroomed a staggering 45% over the week.
These gains far outdo the top performers among non-Solana meme coins. Original meme/canine coin Dogecoin ($DOGE) only added 14.5% over the seven days while Pepe Coin ($PEPE) added 21%.
BONK’s trading chart for the last three months begins with the token setting an all-time high (ATH) of $0.00004547 on March 4, although today’s price represents a 44.5% pullback since then.
Bonk spent the rest of March and April in gradual free fall, bottoming out around $0.000015 before turning green again.
With a relative strength index (RSI) of 45 and no clear indication of buying or selling momentum, BONK’s price could
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