Why Bonk (BONK) is Growing and What is The Price Prediction For 2024
Over the past 24 hours, BONK has jumped 20% to $0.00001636. Let's see what this growth is related to.
Bonk (BONK) crisis
Bonk faced selloffs in mid-December. The token lost 64% between December 14 and December 28. Rather, this was due to the team's decision to conduct a BONK airdrop among those who purchased the Solana Saga phone. Since the team recorded impressive sales of the cell phone, one was left wondering when their owners would start selling out of BONK.
The recent listing of BONK on major exchanges, also led the asset to surge, which was then followed by a correction.
Why Bonk (BONK) is growing?
The main reason for BONK's growth this month is the revitalization in the Solana ecosystem and the growth of SOL. The last month has seen significant listings on trading platforms such as Coinbase and Binance. This has also contributed to the significant growth of meme coin.
Bonk (BONK) forecast for 2024
BONK jumped 20% in the last 24 hours and was trading at $0.00001636 at the time of writing. If the asset manages to overcome the support level of $0.0000174, it will face a rally. In that case, from a technical point of view, the asset will start its growth and could potentially approach $0.0000228.
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BONK's price movement follows the trajectory of Solana. SOL also made highs this month, but declined by the end of 2023. BONK could rise in price if SOL gains momentum. The growth of meme coin will also be affected by the possible bullish sentiment in the entire cryptocurrency market.
However, given the fact that BONK does not have any utility, it may continue its decline. In such a case, experts predict a possible price drop to $0.00001487 in early 2024.
This is not a hundred percent guarantee of BONK's future performance. The cryptocurrency market is very volatile, so remember the importance of doing your own research.
