BONK, a memecoin based in Solana, is currently performing the best among the top 100 cryptocurrency projects according to the charts. BONK rallied by 10.7% during the last 24 hour, 16.8% for weekly charts and 24% on 14-day charts. Floki and Dogecoin have also made a comeback.
Bonk has fallen by more than 42% since its March 2015 high of $0.0004547.
Also Read: Solana (SOL) Surges 800% This Year, Outpacing Bitcoin & Ethereum
Bonk might be benefiting from VanEck applying to a Solana ETF. SOL is itself up by 9% in the last week. Investors’ confidence in SOL assets could have increased in anticipation of the SOL exchange traded fund.
What will happen to the Solana-based Memecoin?
VanEck’s recent SOL ETF filing could be fueling BONK’s price rally. Bonk and SOL assets may see a drop in price if authorities decide to reject VanEck’s ETF request.
The Researchers at CoinCodex Present a bullish outlook on the cryptocurrency with a dog theme. Bonk is expected to reach an all-time record high by July 18th, 2024. CoinCodex believes that Bonk will continue to rise throughout the entire month and reach a maximum of $0.00008534 at July 29, 2024. To reach $0.00008534 at current levels, a growth rate of 225.7% would be required.
Also Read: Solana Predicted to Lead Next Bull Rally as SOL Nears $150
Since its launch in December 2022, the Solana-based Memecoin has shown remarkable results. In the past seven years, since July 20,23, the price of the Solana-based memecoin rose by over 7200%. Other memecoins such as Pepe or dogwifhat have seen impressive growth over the past year.
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Source: watcher.guru
