The top-performing crypto amongst the 100 most popular projects on the daily charts is the Solana-based Memecoin Bonk. BONK rallied by 10.7% during the last 24 hour, 16.8% for the weekly charts, as well as 24% for the 14 day charts. Floki and Dogecoin have also made a comeback.
Bonk’s value is down 42% from the all-time record high $0.00004547 that it reached in March.
Also Read: Solana (SOL) Surges 800% This Year, Outpacing Bitcoin & Ethereum
Bonk may be able to reap the rewards of VanEck’s application for an ETF on Solana. SOL has risen by 9% since the previous week. Investors’ confidence in SOL assets could have increased in anticipation of the SOL exchange traded fund.
What will happen to the Solana based memecoin?
VanEck’s recent SOL ETF filing could be fueling BONK’s price rally. Bonk’s price, as well as other SOL based assets, could drop if VanEck is denied an ETF.
The Researchers at CoinCodex The outlook is bullish for this dog-themed crypto. Platform predicts Bonk will reach a new high in 2024. CoinCodex expects Bonk to keep its rally going throughout July, reaching a high of $0.00008534 by the 29th. From current levels, reaching $0.00008534 would represent a growth rate of approximately 225.7%.
Also Read: Solana Predicted to Lead Next Bull Rally as SOL Nears $150
Since its launch in December 2022, the Solana-based Memecoin has shown remarkable results. The price of memecoin has risen by over 7200% since July 2023. It is now rising quickly in the market capitalization list. In the last year, the price of other memecoins like Pepe and Dogwifhat has also increased dramatically.
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Source: watcher.guru