In the past couple of years the crypto market has witnessed the rise of many dog-themed currencies. Shiba Inu’s success has led to the emergence of a number of dog-themed cryptocurrencies. [SHIB]Many have created their own canine themed asset. BONK, a cryptocurrency that is part of the Solana eco-system, started to appear. It was no longer long before the meme coin had reached its highest value of $0.00004704. Altcoins have not maintained this upward trajectory.
BONK, at the time of publication, was trading for $0.00002886. This follows a daily increase of 6.5%. It is surprising that the price of BONK has risen so much, while the rest the market continues to plunge into the Red Sea. The asset is still 38% lower than its previous high.
Also Read: Pepe and Bonk Prices Fall As Traders Eye New Meme Coin Opportunity
Is June Favor a BONK?
BONK is on a downward spiral for the last few months. The meme coin is on the mend. This asset’s recent surge in value is enough proof. BONK is likely to maintain this position for the next few weeks. According to CoinCodex, BONK has the potential to surge by 86% and hit $ 0.00004964. The platform for prediction predicts an upbeat month for the meme currency.
Many analysts also agreed with this idea. Clifton Fx, formerly Twitter (a crypto expert) suggested BONK was in for a big gain. “bullish wave.” It is important that the coin breaks from the Falling Wedge Pattern it formed on the six-hour chart. This pattern is bullish, but it’s still considered to be a bearish one.
Also Read: Bonk and WIF See Gains as New Solana Meme Coin Generates Bullish Forecasts
Other factors such as market sentiment and regulatory climate would also play a role. Although eliminating a zero may seem impossible, given the current BONK market’s state, these predictions are very likely to be true.
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Source: watcher.guru
