Bonk: the crypto meme on Solana recovering from the -70% dump from its all-time high

Bonk (BONK), the meme crypto developed on Solana, has seen a price dump of -70% from its all-time high, recorded in mid-December 2023. However, in the last 24 hours, it seems that the memecoin is already recovering ground with a pump of +30%.

Bonk: the crypto meme on Solana in a price dump of -70% from its all-time high, but there is a recovery

Bonk (BONK), the meme crypto developed on Solana, has recorded a -70% price dump from its all-time high, which occurred on December 15, 2023.

And indeed, while in mid-December the price of BONK reached

$0.000031, yesterday, BONK plummeted to $0.000009.

Even Solana (SOL) slipped yesterday to $85.7, also recording a -30% dump from its annual high of $123 reached on December 26, 2023. 

All in all, both SOL and BONK seem to be gaining ground in the last 24 hours, with SOL experiencing a +13% pump and BONK a +33% pump. 

Not by chance, at the time of writing, the price of SOL is $101.65, while BONK is worth $0.000014.

The same trend is also visible in other memecoins based on Solana. Dogwifhat (WIF), for example, has seen an -80% dump, with the price dropping from $0.32 on December 22, 2023, to $0.06 yesterday. Also for WIF, there has been a +84% price pump in the last 24 hours, bringing the meme crypto back to $0.15.


Bonk: the crypto meme on Solana and the trends of DOGE and SHIB

But if the trend of “recovery” that BONK is trying to implement together with SOL and the other Solana-based crypto memes is clear, how are the main memecoins moving?

BONK is the third crypto meme by market capitalization, right after Dogecoin (DOGE) and Shiba Inu (SHIB). 

And indeed, DOGE is on the podium with over 11 billion dollars of market cap, SHIB is second with over 5 billion dollars, and BONK in third place with over 860 million dollars. 

Looking at the price charts, DOGE has experienced a -20% dump in the last month, with the price dropping from $0.10 to $0.07 yesterday. In the last 24 hours, DOGE has seen a +3.3% pump with the current price at the time of writing being $0.08$. 

Even SHIB reached its lowest point yesterday, at 0.0000086$, recovering in the last 24 hours with a price pump of 4.7%. At the time of writing, SHIB is worth 0.0000095$. 

Lift your spirits?

Some time ago, it was analyzed whether memecoins are still fun. In the case of BONK, in fact, the meme crypto seems to have arrived at a time when the Solana ecosystem was in desperate need of good humor. 

Launched in December 2022, the meme crypto has managed to conquer not only the Solana community, but also the entire crypto community. 

In one year, in fact, BONK has landed on Coinbase, managing to be listed on the crypto-exchange. On that same day, BONK recorded its all-time high price.