With Bitcoin halving on the way, meme coins are becoming more popular in the world of cryptocurrency. BONK, a meme coin based on Solana, reached a new highest value after Coinbase revealed plans to list it. This led to a significant increase in the coin’s market value and trading activity. Another coin named Memecoin is also doing well. Which one is likely to make more money in 2024? Let’s take a look at this BONK vs Memecoin article in more detail.
Bonk is a special kind of digital money that works on the Solana blockchain, and it’s all about helping the community. To include as many people as possible, the folks behind Bonk gave away half of all Bonk tokens to Solana users through something called an airdrop. They wanted to create a cryptocurrency that feels friendly and welcoming, unlike some others that might have a not-so-great reputation. Bonk is meant to be a fun and enjoyable project where everyone has the same chances to get involved.
$MEME Coin is causing a stir in the decentralized finance (DeFi) scene. Thanks to its creative farming dashboard, a hugely successful firesale, and the upcoming listing on Binance, $MEME Coin is rapidly gaining recognition in the cryptocurrency world. Its recent accomplishment includes securing a place in the Binance Launchpool, providing distinctive opportunities for farming. This highlights $MEME Coin’s growing prominence and success within the crypto community.
How has the BONK price moved in the last few days?
As of today, the price of Bonk is $ 0.00001450, with a 24-hour trading volume of $ 243.73 million. The market cap is $ 918.44 million, and Bonk holds a market dominance of 0.05%. Over the last 24 hours, the price of BONK has increased by 6.71%.
Bonk’s highest price was on Dec 15, 2023, reaching an all-time high of $ 0.00003428. On Oct 12, 2023, it hit its all-time low of $ 0.0000001753. Since its all-time high, the lowest price observed was $ 0.000009387 (cycle low), while the highest was $ 0.00001751 (cycle high). Currently, the sentiment for Bonk’s price prediction is bullish, and the Fear & Greed Index is at 60, indicating a state of greed.
The circulating supply of Bonk is 63.33 trillion BONK out of a maximum supply of 100.00 trillion BONK. The current yearly supply inflation rate stands at 36.20%, resulting in the creation of 16.83 trillion BONK in the last year. In terms of market cap, Bonk holds the #3 position in the Meme Coins sector.
How has the Memecoin MEME price moved in the last few days?
As of today, Memecoin is priced at $ 0.027271, with a 24-hour trading volume of $ 52.45 million. The market cap stands at $ 239.91 million, and Memecoin holds a market dominance of 0.01%. Over the last 24 hours, the price of MEME has increased by 10.74%.
Memecoin reached its highest price on Dec 6, 2023, trading at its all-time high of $ 0.047306. The lowest recorded price occurred on an unspecified date when it was at its all-time low of $ 0.00.
Since its all-time high, the lowest observed price was $ 0.018240 (cycle low), while the highest MEME price since the last cycle low was $ 0.031205 (cycle high). Currently, the sentiment for Memecoin’s price prediction is bearish, and the Fear & Greed Index is at 60, indicating a state of greed.
The circulating supply of Memecoin is 8.80 billion MEME out of a maximum supply of 69.00 billion MEME. In terms of market cap, Memecoin holds the #7 position in the Meme Coins sector.
Bonk vs. Memecoin: Who Could Win the 2024 Profit Race?
Memecoin currently exhibits notable characteristics in its market performance. With a substantial market cap, Memecoin demonstrates high liquidity, indicating a significant level of investor interest and trading activity. However, a closer examination reveals a somewhat subdued recent trend, with only 14 green days in the last 30 days, accounting for 47% of the observed period.
This fluctuating performance may be indicative of a market that is subject to both bullish and bearish sentiments, possibly influenced by external factors or market dynamics.
Another noteworthy aspect is the limited circulation of Memecoin, with less than 13% of the total supply currently in circulation. This low circulation rate may suggest the potential for increased scarcity and upward price pressure if demand were to rise.
Looking forward, it will be crucial to monitor how Memecoin navigates these dynamics, as the combination of high liquidity and limited circulation could contribute to both price volatility and opportunities for growth in the coming months.
BONK has emerged as a standout performer in the cryptocurrency landscape, showcasing remarkable growth over the past year. With an astounding increase of 1,260% in its price, BONK has outpaced an impressive 98% of the top 100 crypto assets during this period.
This exceptional performance extends beyond merely outperforming its crypto counterparts, as BONK has also surpassed the traditionally dominant cryptocurrencies, Bitcoin and Ethereum.
Furthermore, the coin is currently trading above its 200-day simple moving average, signifying a sustained positive trend. Despite these achievements, it’s noteworthy that BONK has experienced only 12 green days in the last 30 days, accounting for 40% of the observed period, potentially indicating recent market challenges or fluctuations.
Additionally, BONK is currently down by -58% from its all-time high, suggesting a corrective phase after a period of substantial growth. Another factor to consider is the yearly inflation rate, which stands at 36.20%, highlighting the ongoing creation of new BONK tokens. In light of these factors, while BONK has demonstrated extraordinary growth, investors should remain attentive to its recent performance trends and potential market dynamics.
Bonk vs. Memecoin: How high can the prices go in 2024?
Given the recent analysis of BONK’s performance, a forecast suggests that the coin is anticipated to trade within a range of $ 0.00001381 to $ 0.00002522.
This projection takes into account various factors such as its remarkable 1,260% increase in the last year, outperformance compared to 98% of the top 100 crypto assets, and trading above the 200-day simple moving average.
If BONK were to reach the upper price target of $ 0.00002522, it could potentially realize an increase of more than 75%. However, it’s essential to approach this forecast with caution, considering the coin’s recent market challenges, as reflected in the relatively low number of green days in the last 30 days (40%) and the -58% decline from its all-time high.
Market conditions, sentiment shifts, and broader cryptocurrency trends may play significant roles in influencing BONK’s future trajectory.
On the other hand, the comprehensive analysis of Memecoin’s market performance points towards potential price movement within a forecasted range of $ 0.02323 to $ 0.040237. In particular, if Memecoin manages to reach the upper limit of this projected range, it could experience a substantial increase of almost 47%, bringing the price to $ 0.040237. This forecast provides valuable insights for investors, offering a range within which the coin may fluctuate shortly.
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