Bonk: The Rising Star of Meme Coins, Can It Become the Next Market Leader?
In the past 24 hours, the overall meme coin market has grown by 3.1%, with Bonk standing out in particular. As the fifth-largest meme coin by market capitalization, Bonk has surged by an impressive 97.8% in the past 7 days, far surpassing Dogecoin (+26.5%) and Pepe (+66.9%), attracting widespread attention. What are the key factors behind its recent surge? Will Bonk become the next dominant meme coin in the market?
- **Price Surge**: On November 5, Bonk's price was just $0.00001779, but by November 17, it had risen to $0.00005124, an increase of **188.027%**.
- **Leading Trading Volume**: In the past 24 hours, the trading volume of the BONK/USD pair reached **$302 million**, far exceeding Doge ($229 million), Shiba Inu ($80.9 million), and Pepe ($73.22 million), making it the most active meme coin trading pair on the platform.
- **Market Capitalization Growth**: Currently, Bonk's market capitalization stands at **$3.55 billion**, ranking fifth among meme coins, just behind Doge, Shiba Inu, Pepe, and Dogwifhat.
**Three Core Factors Driving Bonk's Growth**
1. **Technical Pattern and Market Trend**
Bonk's weekly chart has formed a typical triple bottom pattern, which is a strong bullish signal. After breaking through this pattern, market sentiment turned optimistic, driving prices to continue rising. This breakout indicates that the market may enter a longer-term upward trend.
2. **Token Burn Plan**
- **Recent Burns**: BonkDAO recently burned at least **100 billion tokens** and plans to further burn **1 trillion tokens** next month.
- **Burn Effect**: Burning tokens reduces market supply and typically boosts prices, which is also one of the important reasons driving Bonk's recent price increase.
3. **Community Enthusiasm and Ecological Activities**
The prosperity of the Bonk market is closely tied to its active community. Through activities in the Solana ecosystem (such as staking, trading, and holiday cards), Bonk continuously burns tokens every day while attracting more users to participate.
Click on the avatar to watch the live stream and learn the latest strategies!
Click on the avatar to watch the live stream and learn the latest strategies!
Click on the avatar to watch the live stream and learn the latest strategies!
