Bonk Price Soars 130% From Recent Lows – Is the Opportunity to Buy the Dip Over?
Bonk (BONK) has experienced a significant surge in price over the past week, despite a relatively calm period in the blue-chip cryptocurrency market. The coin has risen by over 130% from its previous lows earlier this month.
Initially trading at around $0.000028, with a low of $0.0000124 on April 13, Bonk’s price increase followed a break in the downtrend on Sunday. This sparked a wave of technical buying, with BONK now challenging its late March highs of around $0.000029.
The momentum in Bonk’s price suggests a potential return to its record highs in March. However, investors in meme coins are now questioning whether the opportunity to buy the dip has come to an end.
Currently priced at $0.000028, BONK is still down more than 40% from its peak in 2024 when it reached $0.000047 on March 4. While investors who enter the market now have missed the recent price bottom, it’s important to note that Bonk has consistently traded at higher levels than its current price. This suggests that the dip-buying opportunity may still be available.
It’s crucial to remember that meme coins are highly volatile, and investors should only risk what they can afford to lose. Bonk, despite its lack of evident utility, has established itself as a prominent meme coin since its launch in 2022. It was introduced by Solana developers via an airdrop to reignite on-chain activity following the FTX collapse.
With a large and active community, including nearly 280,000 followers on X, 13,600 on Telegram, and 22,000 on Discord, Bonk remains a significant player in the meme coin space. For those betting on the continued rise of major meme coins during this bull market, Bonk could be a worthwhile investment. Its market cap of $1.8 billion is modest compared to coins like Dogecoin and Shiba Inu, suggesting the potential for substantial gains in the future.
For investors seeking even greater upside potential, there is an alternative Solana meme coin called Slothana (SLOTH). This coin aims to replace the Solana-based meme coin Slerf (SLERF), which reached a market cap peak of nearly $500 million last month. Those interested in participating in the Slothana presale can simply send their Solana to EnSawje2vQSQKtGbPYdXEuYKm2sHgeLKJTqCmrDErKEA from a decentralized wallet. The SLOTH tokens will be airdropped automatically once the meme coin launches. It’s important to act quickly as the Slothana presale ends in just over 3 days.
With already over $15 million raised in the presale, there is strong demand for Slothana. Investors have the opportunity to secure their SLOTH tokens at a market cap below $20 million. If Slothana succeeds in surpassing Slerf, the potential for gains of over 25x is possible.
Please note that cryptocurrency is a high-risk asset class, and this article is for informational purposes only. It does not constitute investment advice, and there is a risk of losing all capital.