Bitcoin:, on the air and others cryptocurrencies important are currently immersed a crypto price winter what has wiped trillions of dollars off the market previously hot (and could get worse).
The price of some large calls memecoins: –cryptocurrencies What? dogecoin and shib inu- who shot themselves in the last two years have fallen sharply in recent monthsbut they maintained some of their gains better than expected by many whom they helped Elon Muskbillionaire founder Tesla.
Now cryptocurrency is called bonk based on solanawhich is also based meme shib inu doge, trying to recreate the success memecoins: above, accumulating a 2500% price return 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,” the bonk developers tweeted last month.
SolariumEthereum’s competitor is closely related FTX: and which boasted relatively high transaction speeds and low fees is visible has been hit hard by the explosion of FTX in recent monthsfalling down top ten cryptocurrencies. Nevertheless, Solana’s price has increased with Bonk’s price increasewhich was up 35% in the past week.
The massive rally, which has surged nearly 2,500% since its inception on December 25 and 150% in the last 24 hours alone, has been aided by the so-called air dropwhich distributed free tokens to solana developers and solana-based non-fungible token (NFT) collectors. About 50% of the 56 billion bonks were sent last week.
Is the rally sustainable in the long run?
However, it is unlikely to maintain those gainsdespite the fact that several solana NFT projects are moving to integrate memecoin:. Throughout the past year, several viral cryptocurrencies have hit the scene, shining briefly but ultimately leaving investors in the lurch..
Squid gamecryptocurrency inspired by, but unrelated to, the popular Korean Netflix series of the same name, 2021 saw how its price has increased by more than 100,000% will crumble to nothing in a few days.
Dogecoin:the biggest memecoin: With a market capitalization of about $10 billion, it has held much of its price tag, but only just sustained thanks to the tangible support of billionaire Tesla founder and Twitter owner Elon Musk. In the last two years, Musk has made a name for himself hell and promised to put Dogecoin on the moon through his rocket company SpaceX.
Meanwhile, some cryptocurrency market observers believe that A more developed crypto market may see a turnaroundnon-Bitcoin cryptocurrencies are sometimes called altcoinspotentially making the biggest moves.
“These are new signs that the long sideways decline endsand one should be primed for more volatilityand this time it might be altcoins those that are the first to come to life, not Bitcoin,” FxPro senior market analyst Alex Kupcikiewicz wrote in emailed comments.