Bonk (BONK), the Solana dog currency, performed incredibly well in 2023 and was among the top gainers.
The value of the Solana meme currency, Bonk (BONK), increased by around 13,000% in 2023 as a result of many increases in Solana ecosystem tokens during the previous year.
But the story appears to be changing as traders appear to be taking gains and reinvesting them in fresh ideas.
https://x.com/TheCryptoLark/status/1742916391676809348?s=20
The recent highs for Solana ecosystem tokens, most notably BONK, have been broken, suggesting that investors, who likely earned large profits on their initial purchases when prices spiked, may have decided to take a profit.
Meme currency Bonk (BONK) is now trading at $0.00001097, down 11% over the last 24 hours according to data from CoinGecko. From its all-time high of $0.00003416, reached on December 15, 2023, BONK has now dropped 67.4%.
BONK is still up 12,819.20% from its all-time low price of $0.000000086142, which was recorded on December 29, 2022, despite the recent price decline.
Crypto analyst says to keep an eye on BONK
Crypto analyst Lark Davis, often known as “CryptoLark,” retells the bull-driven run that numerous meme currencies saw in 2023 in a tweet.
CryptoLark predicts that the crypto bull run of 2025 will begin around the end of 2024 and that things are just getting started.
“We’ve had some decent meme coin action over the past month, but this is nothing compared to the crazy degen action we’ll see during the end of the 2024–2025 crypto bull run,” CryptoLark said in an article on X.
Given this, Lark Davis lists ten meme currencies to watch, with Bonk at the top of the list. “If Solana continues to blow up,” he claims, “BONK could do big things.”
With its overall ecology flourishing, Solana has captured the attention of most of the market and grown to become one of the major draws among on-chain dealers.
