Solana’s Gains Cut as Bonk Price Drops 12%


Meme coin Bonk (BONK) has seen its value decrease by 12% over the span of the last 24 hours, due to an increase in profit-taking deals. The price of Solana (SOL), which was the catalyst for the recent surge, also fell by 2%, dropping from $123 to around $112. As a result, liquidations for the cryptocurrency totaled over $20 million, with more than $12 million of it being from longs.

Furthermore, the demand for BONK’s gains has been massive, leading to a significant increase in its exchange listings over the past 10x. It is now possible to purchase BONK on major exchanges such as Binance and Coinbase.

What’s next for BONK?

The current market capitalization of CorgiAI (CORGIAI) stands at $769 million, and its price has risen by a staggering 80% over the past week. This could potentially threaten BONK’s status quo, as its market capitalization is currently at $958 million.

Despite this, BONK has still been up by more than 59% in the past two weeks and by over 350% in the past month. However, its value has dropped by more than half since it reached its all-time high of $0.00003416 on December 15.

Crypto analyst Nebraskagooner predicted that BONK could experience a “slow bleed” before the nukes, in a post on X (formerly Twitter). He said, “Doesn’t look done yet. Needs to hold the base of that breakout candle on the left otherwise it would get super ugly.”

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