- Bonk (BONK) modified into as soon as procuring and selling 12% down as Solana (SOL) moved lower after its contemporary surge.
- An analyst says BONK could well maybe well additionally seek a “leisurely bleed sooner than nuke”, suggesting the downward transfer could well maybe well additionally fetch tempo.
Meme coin Bonk (BONK) is procuring and selling about 12% down within the previous 24 hours, the dip coming amid elevated revenue taking gives for Solana (SOL).
In line with data from CoinGecko, SOL designate modified into as soon as down 2% to spherical $112 as the brand new rally regarded to hit brakes above $123. These are the ranges that Solana traded at as it nosedived in April 2022.
As liquidations for the cryptocurrency mounted to over $20 million – extra than $12 million in longs – the pullback in SOL mirrored within the Solana ecosystem tokens akin to Bonk, Orca and Jito.
Bonk swelled extra than 10x amid major alternate listings by Binance and Coinbase. The gains additionally saw a huge inquire for Solana Saga telephones.
What subsequent for BONK?
While BONK remains the third ideal by market cap within the attend of Shiba Inu and Dogecoin with over $958 million, one other swing lower could well maybe well additionally seek CorgiAI threaten that dwelling quo. The CORGIAI token currently has a market cap of $769 million, with the meme coin’s designate up 80% this previous week.
BONK continues to be extra than 59% up within the previous two weeks and over 350% within the inexperienced over the previous month. On the other hand, at contemporary prices, the meme coin has lost extra than half of of its value since hitting the all-time high of $0.00003416 on December 15.
Crypto analyst Nebraskagooner says BONK could well maybe well additionally seek a “leisurely bleed” sooner than it nukes.
“Doesn’t scrutinize performed yet. Must protect the base of that breakout candle on the left in another case it could well perhaps maybe safe substantial grotesque,” the analyst noted, sharing the prediction in a post on X (formerly Twitter).
