The price of the meme token Bonk (BONK) developed on Solana has increased by 76% in the last 24 hours. The new Shiba Inu stylized altcoin launched in December after a massive airdrop. The cryptocurrency has also risen an astonishing 2,200% since it went live, creating serious expectations that it will be the next big hit in dog-related meme tokens.
Of course, the problem with most meme coins is that they have little foundation to lean on, but there is always a great deal of unpredictability. Bonk hopes to counter this by eventually launching its own DAO and connecting it to various parts of the Solana ecosystem, but only time will tell if that can become a thing or if it turns out to be hype after all.
Bonk Price Forecast as Latest Meme Coin BONK Exploded 2,000% in 5 Days – Is This the Next Shiba Inu?
BONK has seen a steady increase in volume and price after becoming tradable at the end of last month. Since it’s crypto, and BONK more specifically a meme coin, it’s very hard to tell when the momentum might reverse.
That said, it’s been less than a week since BONK hit the market, so it might take a few days for the early investors to get their crypto and mass start dumping on newcomers.
Furthermore, the launch of BONK emphasizes the value of being involved in a network ecosystem. This is because 50% of its total supply (of 100 trillion BONK) was sent to various developers, creators and NFT owners in the Solana community.
As the pie chart above illustrates, 5% of BONK’s total supply was sent to Solana developers, 20% to owners of Solana-based NFTs, 10% to artists and collectors, and 15% to users of the Solana-based DEX OpenBook. The rest will go to a mix of early contributors (who will earn their BONK for three years), liquidity exchange, marketing and team development.
Other than that, there isn’t much to say about BONK. His team describes it as “the first Solana dog coin for the people,” though what exactly it does “for the people” (beyond Solana contributors and developers) remains a question.
Still, investors often pay more attention to the price movements than the fundamentals. And to be fair, BONK has had a great opening week so far, even managing to reach the top 250 coins by market cap.
Furthermore, it goes without saying that the price increases will not last if there is no actual Use Case behind the coin. For this reason, it is encouraging to note that it already partners with more than 10 developers and/or projects within the Solana ecosystem, something that could help it integrate with various platforms in the coming weeks and months.
Altcoins with Fundamentals
Given that BONK is still a meme token, it might be good to look at other altcoins with stronger fundamentals. There are certainly a number of these in the market, with presale coins having the best chance of seeing notable gains in the current bearish conditions.
Presales have actually had a great 2022. Take Lucky Block (LBLOCK), for example, which saw a gain of as much as 6,000% in February compared to an initial sale price of $0.00015. In the same trend, Tamadoge (TAMA) is up as much as 1,800% compared to its October price when it was first listed on OKX.
This shows how new altcoins with reasonable fundamentals and models can make a lot of profits. So we’ve picked three of the most promising token sales happening right now and IPOs coming soon.
Fight Out (FGHT)
Fight Out (FGHT) is an Ethereum-based move-to-earn platform that combines real-world workouts with Web3. Aiming to take the lead from previous M2E platforms such as STEPN, it will track and reward a wide range of exercise, including boxing, weightlifting and yoga, while offering a wide range of in-app and real-world courses in its own fitness centre …
The token sale has already more than 2.6 million dollars collected, with 1 FGHT currently worth $0.0166 (this will increase in the later stages of the presale). Investors can participate by going to the official website and connecting their Connect Wallet or MetaMask wallets.
Visit Fight Out here
Dash 2 Trade (D2T) – Less than 1% of tokens are still available
Dash 2 Trade, which also runs on Ethereum, is a trading intelligence platform that will launch in the next few months and will provide live analytics and social trading data. It provides investors of all levels with all the resources and tools needed to improve their trading performance.
Selling his D2T token has already raised more than $13.1 million and ends in just two days. It has also already announced listings on BitMart, Changelly Pro and LBANK Exchange for early 2023, with the first listing taking place next week (January 11).
Visit Dash 2 Trade here
C+Charge (CCHG) is a peer-to-peer payment system for charging stations for electric vehicles (EVs) that aims to democratize access to carbon credits. It operates on the BNB chain and has launched the sale of its CCHG token by the end of 2022, with CCHG to be used across its network by electric car users to pay for charging their vehicles.
C+Charge will also reward users with CO2 credits for charging at one of their stations, while the platform has already signed an agreement with Perfect Solutions Turkey, bringing 20% of EV chargers in Turkey to its network.
Visit C+Charge here