Solana-based cryptocurrency called bonk is trying to recreate the success of previous memecoins.
05 January 2023 10.18
Bitcoin:ethereum etc cryptocurrencies The majors are currently in the midst of a crypto price winter that wiped trillions of dollars off the market. The price of some calls memecoins: (Cryptocurrencies such as dogecoin Y: alum inu), which have risen sharply over the past two years, have fallen sharply in recent months, but have held on to some gains better than many expected with the help of a billionaire founder. Tesla, Elon Musk.
is it now? secretly based solarium to call bonk tries to recreate the success of previous memecoins, accumulating a 2500% price rally despite the devastating cryptocurrency crash that put the biggest cryptocurrency companies in crisis.
“We’re here to reward everyone who made solana what it is today,” bonk devs wrote in Twitter last month.
Solana, the rival on the air closely related to crypto exchange FTX: and boasting relatively high transaction speeds and low fees, has been hit hard by the FTX explosion in recent months. leaving the crypto top ten. However, the price of the solarium has increased bonkwhich increased by 35% in the last week.
Bonk rally
Bonk’s Great Rally, which is up nearly 2,500% since its release on December 25 and 150% in the last 24 hours onlyhe was helped by the so-called airdrop, during which free tokens were distributed to solana developers and non-convertible tokens based on solana (NFTs) About 50% of the 56 billion bonk supply was delivered in the last week.
However, bonk is unlikely to sustain these gains, although several NFT solana projects are moving towards bonk integration. Over the past year, several viral cryptocurrencies have hit the scene, catching fire briefly but ultimately leaving investors penniless. money.
Squid gameThe cryptocurrency, which is inspired by (but not related to) the popular Netflix series of the same name, has seen its price rise by 100,000% in a matter of days, only to collapse into nothingness.
Dogecoin, the biggest memecoin with market capitalization is about $10 billionhas kept most of its prices, but only survived thanks to the tangible support of the Tesla billionaire and Twitter owner, Elon Musk. For the past two years, Musk has proclaimed himself “Father Dog” and vowed to take Dogecoy to the moon with his rocket company. SpaceX.
Is the rally starting?
At the same time, some crypto market watchers believe that the more advanced crypto market may rally when non-Bitcoin cryptocurrencies are sometimes called: altcoinswho could take the most important steps.
“These are new signs that the long sideways decline is coming to an end and we should be prepared for more volatility, and this time altcoins, not Bitcoin, may be the first to come to life,” writes Alex Kupcikiewicz, senior market analyst. FxPro:in emailed comments.
*Courtesy of Forbes US.