Just had a member in the group message me asking for my opinion on $BONK . In fact, I am not collecting BONK, but I will note down the main points of the project so you can make your own investment decision!
Because the market is not okay with altcoins, I will talk about the disadvantages first!
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🥶DISADVANTAGES
👉BONK increased a lot before listing Binance.
Many newbies make a fairly basic mistake of just looking at the chart on Binance and being confident that BONK has not grown much. However, from the time of the airdrop to the community at the end of 2022, the BONK price has been reduced by about 4 zeros after the comma. If you take the benchmark before listing Coinbase, the BONK price will also increase about 100 times.
![](https://public.bnbstatic.com/image/pgc/202407/b8cd12d1aff26f380be918aab77cc314.jpg)
👉Large capitalization
BONK's capitalization is approximately 1.5 billion USD, ranking in the top 4 memecoins on Binance, just behind DOGE, SHIB and PEPE. Statistics from the beginning of 2024 show that memecoins, after reaching an important capitalization milestone of 1 billion USD, often perform much worse than small capitalization memecoins. In this aspect, BOME, MEW, MEME, MYRO... are more promising names.
👉Not a "pure" meme
The "pure" meme factor is highly valued by investors specializing in memecoins. In particular, memecoin must comply with the factors including no utility (No utility), no promise of profit (No reward) and no intrinsic value (no intrinsic value), simply created for the purpose of solving problems. mind.
However, BONK does not follow this direction but has its own ecosystem, including BONK BOT (trading bot), BONK SWAP (DEX) and BONKREWARDS (staking)... This causes BONK to be said to have lost its original nature. of a memecoin and become a DeFi project.
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😍ADVANTAGES:
👉Build on Solana:
From mid-2023, Solana is the leading blockchain, competing with Ethereum, BNB Chain, Arbitrum... Among them, the memecoin segment is among the top contributors in terms of gas fees, average number of daily transactions, average number of active wallets per day... of Solana. Therefore, I think that when the memecoin wave returns, the lead will be projects built on Sol.
👉List Coinbase
Being a rare memecoin approved for listing on Coinbase helps increase BONK's reputation. On December 14, 2023, BONK reached a temporary peak at 0.000015 USD, up 45% after the Coinbase listing news. The project was also the third memecoin supported by this exchange at that time, after DOGE and SHIB. . When listing Binance, BONK also had the "seed" tag added next to the "meme" tag.
👉FairLauch and strong community
The most active individuals in the BONK community are also those who are attached to hst Solana. The BONK token launch process is also considered quite fair to retailers when 50% of the total supply is reserved for airdrop to the community. Conditions for receiving the airdrop are also quite simple as users only need to have a Solana wallet and mint NFT. Worth mentioning, the project development team burned 5,000 billion BONK (equivalent to 5% of total supply) to increase scarcity.
💵In short, I still think that the future memecoin wave will belong to the Solana system, including BONK, WIF, BOME, MEW, MYRO. However, because of the above advantages and disadvantages, you should not go all in with BONK but can add another memecoin of the same Sol system, but with a capitalization of less than 1 billion USD.