The Bonk (BONK) price has been moving aggressively higher over the past week despite a subdued tone to recent trade in the blue-chip cryptocurrency market. BONK is now up more than 130% from the lows it set earlier in the month.
The leading Solana meme coins. was trading around $0.000028, having dipped as low as $0.0000124 on April 13.
The surge in the Bonk price comes after it broke to the north of a downtrend on Sunday, igniting a wave of technical buying, with BONK now challenging late March highs around $0.000029.
The Bonk price is building momentum for a return to its March record highs. Source: TradingView
Having more than doubled from its earlier monthly lows, meme coin investors are asking whether the dip-buying opportunity is over.
Bonk Price Prediction – Is the Dip-Buying Opportunity Over?
At the current Bonk price of $0.000028, BONK is still down more than 40% from its 2024 peaks.
On March 4, Bonk hit an all-time high of $0.000047.
So, yes, investors jumping into Bonk right now have, of course, missed the recent price bottom.
But Bonk has shown it can trade at substantially higher levels than its current price.
So, arguably, the dip-buying opportunity isn’t over yet.
Of course, meme coins are highly risky, and investors shouldn’t risk more than they can afford to lose.
Given its lack of obvious utility, Bonk could easily lose 90% or more of its value from current levels in the blink of an eye.
That being said, Bonk is a very well-established meme coin at this point.
It’s been around since 2022 when Solana devs launched it via airdrop to reignite post-FTX collapse on-chain activity.
Since then, Bonk has amassed a large community, the lifeblood of any meme coin.
Bonk has nearly 280,000 followers on X, 13,600 on Telegram, and 22,000 on Discord.
That suggests a strong likelihood that Bonk remains a leader in the meme coin space.
Bonk could be a great bet for those betting that major meme coins will continue rising in value during this bull market.
Its market cap of $1.8 billion is modest compared to the likes of Dogecoin and Shiba Inu.
Bonk could easily post 10x gains later in this bull market, as waves of FOMO come and go.
Solana Meme Coin Alternative – Slothana (SLOTH)
BONK could deliver solid gains in the coming months and years.
Many meme coin investors will be hunting for much bigger than 10x upside potential, however.
These investors can consider an exciting new Solana meme coin presale called Slothana.
Slothana (SLOTH) seeks to replace the Solana-based meme coin Slerf (SLERF), which reached a market cap peak of nearly $500 million last month.
Buying Slothana in presale is simple. Potential investors need to send their Solana to EnSawje2vQSQKtGbPYdXEuYKm2sHgeLKJTqCmrDErKEA from a decentralized wallet.
Attention, fellow sloths! Poll time. Should we launch on DEX only, embracing the true spirit of decentralization and lazy trading? Or should we go full throttle, hitting up both CEX and DEX like the overachieving sloths we could be? Cast your vote below #slothana #memecoin
— Slothana (@SlothanaCoin) March 29, 2024
They will then be automatically airdropped their SLOTH tokens once the meme coin launches.
Investors should move quickly as the Slothana presale ends in just over 3 days.
Are you feeling lucky, sloths? With just 3 days left in the presale, it’s time to saddle up and make your move. Are you gonna sit there, or are you gonna join the ride to the moon with Slothana? The choice is yours. Make it count. #Slothana #memecoins pic.twitter.com/lnyqisy2EB
— Slothana (@SlothanaCoin) April 25, 2024
Slothana has already raised a whopping more than $15 million, according to the presale website, demonstrating strong demand.
Thus, investors can lock in their SLOTH tokens at a market cap of below $20 million.
If Slothana achieves its goal of surpassing Slerf, more than 25x gains are possible.
The post Bonk Price Prediction as BONK Gains 130% From Recent Lows – Dip-Buying Opportunity Over? appeared first on Cryptonews.