Bonk Price Prediction – As the Pump Deflates Should You Consider Buying the Dip?
The BONK price has declined by 50% in the 24 hours, with the new Solana-based meme token falling to $0.00000182 after enjoying a surge in previous days. Despite the plunge, it remains up by around 2,000% since first listing at the end of December, making it easily the best-performing coin in the top 250 cryptocurrencies (by market cap).
However, the fact that it remains 2,000% up its initial price suggests that it could still fall further in the coming hours and days. And while some traders may be wondering whether now is the perfect time to ‘buy the dip,’ the fact that it’s a meme token with little real-world utility arguably makes sustained, long-term rises unrealistic.
Bonk Price Prediction – As the Pump Deflates Should You Consider Buying the Dip?
BONK had a very good opening few days, rising from $0.000000086142 to $0.00000487 in just under week. This made for a gain of just over 5,500%, making its early holders (if not investors) a very sizeable profit.
On the other hand, BONK is also down by 62.5% since reaching its all-time high yesterday, underlying just how volatile the new meme token is.
Self-billed as “the first Solana dog coin for the people,” BONK’s creators held an airdrop at the end of the year which saw 50% of its total maximum supply (of 100 trillion BONK) airdropped to various developers, creators, and NFT holders within the Solana community. It’s almost certain that these were the same people to benefit from the pump BONK then witnessed, with later retail investors likely left holding their bags.
To be fair, there has been substantial interest in the coin, which witnessed more transactions over the past three days than Ethereum. This is arguably good going for a meme token, although it could just easily be regarded as an indictment of crypto in its current, immature state, with a gimmicky meme coin attracting more users than something with claims to genuine utility.
Based on data from a community dashboard, $BONK has had more transactions over the last three days than Ethereum had over the same period of time.
— Bonk! (@bonk_inu) January 6, 2023
That’s the power of Solana. pic.twitter.com/j9frZCazwJ
Of course, given just how well-documented the rise and fall of meme tokens has been in recent years, BONK’s team are striving hard to make it more than a superficial novelty. For example, it already partners with more than 10 developers and/or projects within the Solana ecosystem, suggesting that it may integrate with a wide variety of apps and platforms in the not-too distant future.
As such, while it’s all-too easy to dismiss BONK as just another fad, it could continue to see additional ups (as well as downs) in the coming months. Although with a supply of 100 trillion, don’t expect it to reach $1 or higher anytime soon.
Altcoins with Utility
Investors looking for new coins with more utility and better fundamentals than BONK may be interested in looking at a number of interesting projects currently holding their respective presales. Despite the bear market, token sales actually had a decent 2022, beating market averages following exchange listings.
To take one of the most notable examples, Tamadoge (TAMA) rose by as much as 1,800% compared to its presale price in October, when it was listed on OKX. Meanwhile, Lucky Block (LBLOCK) witnessed an increase as high as 6,000% in February, compared to a sale price of $0.00015.
This shows how new altcoins with some substance and an actual use case can take off. Accordingly, here are three of the most promising presales happening right now.
Fight Out (FGHT)
Fight Out (FGHT) is a move-to-earn platform that combines real-life workouts with Web3. Based on Ethereum and aiming to go beyond earlier M2E platforms such as STEPN, it will track and reward a wide range of workouts, including boxing, weightlifting and yoga, while also offering a range of in-app and IRL courses at its own branded gyms.
Opened in December, its token sale has already raised over $2.6 million, with 1 FGHT currently going for $0.0166 (this will increase in the later stages of the sale). Investors can participate by going to its official website and connecting their Connect Wallet or MetaMask wallets.
Visit Fight Out Now
Dash 2 Trade (D2T) – Overfunding Round After Sellout
Also based on Ethereum, Dash 2 Trade is a trading intelligence platform set to launch in the next few months, when it will provide real-time analytics and social trading data. It offers investors of all experience levels all the resources and tools they could need to improve their trading performance.
The sale of its D2T token has raised over $13.9 million and has actually soldc out, although its team has begun an overfunding round before it lists. As for listings, it has confirmed support from BitMart, Changelly Pro, and LBANK Exchange, with the first due on January 11.
C+Charge (CCHG)
C+Charge (CCHG) is a peer-to-peer payment network for electric vehicle (EV) charging stations, one which aims to democratize access to carbon credits. Using BNB Chain for its native CCHG token, it launched its presale in December, with CCHG set to be used within its network by EV owners to pay to charge their vehicles.
C+Charge will also reward users with carbon credits for charging their EVs at its stations, while the platform has already signed a deal with Perfect Solutions Turkey, adding 20% of the EV chargers in Turkey to its network.
