đ BONK Price Drops 13% in 24 Hours; Most Solana Meme Coins Follow Suit
In the period from December 26 to December 27, 2023, the price of the BONK token fell by 13%, according to TradingView. A similar situation is observed with other meme coins on the Solana network.
đ At the time of writing, BONK is trading at $0.00001581, according to TradingView. Since the beginning of December 2023, the price has declined by more than 30%.
đ Recall that the airdrop of BONK tokens likely contributed to a surge in demand for Solana Saga smartphones. As a result, their cost on the âsecondaryâ market skyrocketed several times. By the way, the company faced a shortage of smartphones for all interested users.
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In mid-December 2023, an unknown user earned $1.5 million from the rise in the WIF token's value.
đž Meme coin ANALOS dropped by more than 60% in a day, according to CoinGecko. In this case, a trader gained $5.7 million from the rise in value.
đ On the night of December 27, the SOL token dropped by 4%, but then recovered from $108 to $113, according to TradingView. The daily liquidation volume for this position amounted to $20.3 million, with a predominance of long positions.
đĄ The possible reason for the pullback in these markets is profit-taking by early participants, CoinDesk reports. Interestingly, the trading volume on decentralized exchanges on Solana remained high at $1.44 billion per day, indirectly confirming the thesis above.
$BONK
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