Is BONK Price Headed Towards Zero? Plummeting 8.5% as Solana’s Meme Legend SEAL Raises $250,000
Solana’s second-largest canine meme coin, Bonk ($BONK), experienced an 8.5% decline overnight as meme coins faced significant losses in a market-wide dip.
Currently, Bonk is trading at $0.00002525, which represents a 7% increase compared to its price last week.
While these figures indicate higher volatility than leading cryptocurrencies Bitcoin ($BTC) and Ethereum ($ETH), they are relatively stable compared to other high-market cap meme coins.
Bitcoin, the world’s favorite cryptocurrency with a market cap exceeding a trillion dollars, saw a 1.4% drop in the past 24 hours but grew by 3.8% over the course of seven days and is currently valued at around $64,275.
Ethereum, the most commercially important blockchain and Bitcoin’s main competitor, experienced a 2.4% decline overnight but appreciated by 1.8% over the week and is currently valued at $3,124.
Solana-based meme coins like BONK performed better than their Ethereum or proprietary blockchain counterparts in the past week.
Notable Solana projects that experienced significant appreciation over the course of seven days include DogWifHat ($WIF), which grew by 30%, Book of Meme ($BOME), which rallied 27%, and Popcat ($POPCAT), which mushroomed an astonishing 45%.
These gains surpass the top performers among non-Solana meme coins, with Dogecoin ($DOGE) only adding 14.5% over the seven days and Pepe Coin ($PEPE) adding 21%.
BONK’s trading chart for the past three months shows that the token reached an all-time high (ATH) of $0.00004547 on March 4. However, the current price reflects a 44.5% decline since then.
Throughout March and April, Bonk experienced a gradual decline before hitting a low point around $0.000015 and then rebounding.
With a relative strength index (RSI) of 45 and no clear indication of buying or selling momentum, BONK’s price could go either way by the end of the week, depending on industry-wide or macroeconomic factors.
Is Solana’s $SEAL the Next Viral Meme After Bonk?
Many investors are likely to target Solana meme coins as they hope to contribute to the development of the ecosystem, which is often referred to as the “Ethereum killer.”
Sealana ($SEAL) is the latest in a series of amusing new Solana coins competing for attention.
In a presale that is only a week old, the hillbilly seal has already raised over $250,000 in a comical manner.
Sealana is a spin on the popular South Park character Gamer Guy, also known as Fat Computer Nerd.
Gamer Guy gained viral status through the hit cartoon’s hilarious World of Warcraft episode. He became a meme sensation in his own right, thanks to his milk-bottle glasses, intense concentration, messy room, and growing girth.
He has come to symbolize various individuals, from disgruntled keyboard warriors sharing sharp opinions in internet comment sections to a representation of the idle side within all of us.
Sealana, stranded at his desk and expanding by the day, sustains himself with chips and canned tuna between questionable trades. It’s the Web3 version of the American Dream!
During the presale, investors receive 6,900 $SEAL tokens for every 1 SOL. This provides them with a substantial amount to hold onto (or HODL) and potentially benefit from significant appreciation during and after the presale.
Users can make payments through a widget on the website or by sending SOL from a decentralized wallet to the following address: DJ15ZYXqUNMYJ3hL7z4ciSaSFAw5cbos3YjGpdvwmF6c.
Stay updated on the latest developments through Sealana’s X account.
Purchase Sealana on the official website.
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Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. There is a risk of losing all of your capital.