🔥💥Solana-Based BONK Up 81%, Could It Reach $0.001 Next?
While the cryptocurrency market is recovering after its recent decline, memecoins seem to have returned to their former form. The Solana-based memecoin #BONK is currently the Decently performing crypto asset among the top 100 projects. The dog-themed cryptocurrency has gained over 30% in the last 24 hours, over 81% on the weekly charts, an increase of 14.4% compared to the previous month and 3841.8% since April 2023.
Other memecoins such as PEPE, Floki and dogwifhat are also among the Decently performing cryptocurrencies on the market at the moment. BONK's recent rally may be due to the offer to burn 280 billion tokens from the circulating supply. Reducing the supply is considered bullish because it may lead to an increase in demand. Investors may be expecting a rise when the burns occur.
Will Solana-based memecoin reach $0.001?
According to COINCODEX, BONK will continue its rise in May. The platform predicts that the BONK will reach an all-time high of $ 0.00004709 on May 9, 2024. Reaching $0.00004709 from current levels will translate into a growth of about 77.36%. Moreover, CoinCodex predicts that BONK will eventually reach $0.00009059 on May 9, 2024. Reaching $0.00009059 from current levels would correspond to a growth of about 241.2%.
If the Solana-based memecoin keeps its price at $0.00009, it can erase zero and reach $ 0.0001. But for $0.001, the trip may take a little longer.
According to Telegaon, BONK may exceed the limit of $ 0.001 in 2029 and reach the maximum price of $ 0.00117 for the year.
Changelly, on the other hand, takes a more bearish view on BONK. The platform does not expect the Solana-based memecoin to break the $0.001 limit any time before 2040. Changelly estimates that BONK will reach $0.00190 about 16 years from now, in January 2040.
