Final week, we skilled an ideal occasion of a meme token producing a lot publicity initially 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). In accordance with the data 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 chance that the token worth may even see yet one more important enhance?
May 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 improvement path much like that of SHIB and DOGE. Nonetheless, to ensure that this to achieve success, it should be supported by probably the most important exchanges within the sector.
There may be one factor that almost all of the preferred meme currencies within the cryptocurrency enterprise all have in widespread, and that’s the incontrovertible fact that they’re all listed on probably the most outstanding exchanges resembling Binance, Kraken, and Coinbase. DOGE and SHIB are two examples of those cash.
BONK will should be listed on at the least certainly one 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 large liquidity and help BONK to keep up its buying and selling quantity, which beforehand exceeded Ethereum’s.
However, it’s fairly unlikely that BONK will ever be capable to purchase the identical diploma of widespread acceptance as different cryptocurrencies resembling 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.