Will BONK Be the Next Dogecoin? Unveiling the Hype and Potential.

If you are just entering the crypto sphere based on your appreciation of blockchain technology, you might have a bit of an issue with memecoin. After all, their memetic nature seems rather useless at first glance. However, the past cycles have taught us that these types of cryptocurrencies have certain appeal among the Web3 communities and that it can be quite foolish to miss out on their rallies. So, whether you end up hating or loving memecoin, keep in mind that they can offer great opportunities for massive gains. And $BONK is the latest proof of that fact. Plus, given that the Bitcoin halving is yet to come, let’s try to figure out if the BONK coin can go even higher.

Overview

In today’s article, we’ll first ensure you all know what $BONK crypto is. This is where we’ll do an overview of the project behind the BONK memecoin as well as the token itself. Next, we’ll take a glance at the BONK Coinbase listing, which seems to have further spurred the asset’s price increase.
Then, we’ll shift our focus to the BONK token’s price. As such, we’ll go over the coin’s price action and address the limitations of the BONK coin price prediction levels. However, we’ll still have some fun by offering our speculative best-case-scenario BONK price prediction targets.
Furthermore, you’ll have a chance to learn where to explore BONK’s real-time on-chain data and live price. This is where Moralis Money – the best crypto trading tool – enters the scene. It is the tool to use to help you decide if BONK is a good investment for you. And it can even help you time your entries and exits by setting up proper alerts. 
Last but not least, for those of you who may decide to buy $BONK, we’ll also explain where to do that with ease. 

What is $BONK Crypto?

The $BONK crypto is a rising star in the world of memecoin cryptocurrencies. It has recently surged to its all-time high (ATH), capturing the attention of the crypto community. 
Launched on the Solana blockchain, $BONK stands out as a unique memecoin project. The mission at the time of the token’s launch was to rejuvenate the Solana ecosystem through its playful and community-driven approach. After all, the previous bear market hit Solana harder than most other leading altcoins.
So, $BONK is not just a meme coin riding the hype. It’s a vibrant project with real utility and a mission to make its mark on the Solana blockchain.

Background and Development

Born out of the turbulent times faced by Solana, $BONK crypto emerged as a community-led initiative to breathe new life into the blockchain. The project’s developers, inspired by the success of meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB), set out to create a fun and engaging crypto experience. The goal was ambitious – to revive Solana after a period of uncertainty marked by the FTX exchange collapse and a mass exodus of developers and users.
Well, it is hard to say if BONK deserves any credit for it or not but it is clear that Solana experienced an impressive recovery in 2023 (approximately 8x):  

BONK Crypto’s Airdrop Strategy and Token Allocation

The BONK crypto took an unconventional route for its market launch. The project opted for a massive airdrop instead of a traditional initial coin offering (ICO). This airdrop, distributing 50% of the total coin supply on December 25, 2022, demonstrated the project’s commitment to inclusivity. The distribution targeted key players within the Solana ecosystem, including NFT creators, early traders on the OpenBook decentralized exchange, and developers, fostering a sense of community ownership.
The remaining 50% of the coin supply was strategically allocated. Early contributors, vital to the project’s development, were granted 20% with a three-year vesting period. Moreover, future development incentives, the Bonk DAO for community governance, initial liquidity across Solana-based DeFi platforms, and a dedicated marketing fund all received their share. As such, the allocation aimed to ensure a balanced and sustainable growth trajectory.

BONK Ecosystem

Since its launch in December 2023, the project has not been idle. There has been a lot of development and activity from the core BONK contributors. As such, feel free to explore all the available features of this memecoin project by visiting the above-outlined website. 
However, the most prominent BONK crypto features so far are the following products:

• BONKSwap:

• BONKBot: 

Another mention-worthy feat of this memecoin project is its ability to spread across other chains. By the time of writing, BONK is available across ten blockchain networks, including Ethereum. 

BONK Coinbase Listing

As you may know, Coinbase is the leading USA-based centralized cryptocurrency exchange (CEX). As such, you can imagine that tokens that get listed on this CEX often experience a noticeable surge in price. Well, that’s exactly what happened with the BONK crypto. 
$BONK was listed on Coinbase on December 14, 2023, and the token’s price more than doubled within the 14 hours following that event. However, the price started to surge based on the rumors around this listing days before.
There’s no question that the BONK Coinbase listing propelled BONK into an even brighter spotlight. The asset now surpassed several cryptocurrencies in market capitalization, securing a position among the top 50 cryptocurrencies by market cap:
As BONK continues its impressive ascent, reaching new all-time highs, its recent Coinbase listing adds a significant chapter to its success story, promising further growth and heightened market attention.

BONK Crypto Price Action

As altcoin traders, we are primarily interested in tokens’ prices. So, let’s take a closer look at the $BONK coin’s price action on a logarithmic scale:
By looking at the above line chart, you can see that the token’s price experienced a rather massive rally between December 30, 2022, and January 5, 2023. It went from as low as $0.00000009 to $0.00000339, which was a 37x-plus increase in value in a single week. 
After the initial pump, the $BONK price entered a downtrend period. Sure, there were some upside moves along the way, some as high as 100%; however, you can see that the coin’ value was decreasing by October 2023. It reached its bottom on October 14, 2023, at $0.000000177. Four days later, the asset revisited the $0.00000018 level, from where it started to rally to new heights.  
At the time of writing, the BONK crypto is trading just below $0.000029 and has been setting new ATH almost daily since October 18, 2023. Since then, the coin’s price has increased by nearly 20,000%. That is an increase of more than 200x in as little as 57 days:
Note: If you are new to altcoins, you might be shocked by the BONK’s recent rally. And while it is important to point out that such a massive increase in such a short period is not common, it is also not that rare either. After all, during bull markets, the average altcoin tends to increase by 50-70x. However, some tokens go on 100x, 1000x, and even larger runs.

BONK Coin Price Prediction

It is in our human nature to want some clear targets. As such, we all want some specific price targets on clear timeframes. However, before you get sucked by this tendency, we’d like to offer some invaluable facts. 
First of all, you need to be aware that anyone posting, for example, a 2024 BONK price prediction or 2025 BONK price prediction is making a pure guess. What’s more, most of these guesses, if not all, will end up being wrong, far off the mark. The same is true for all other crypto price predictions. However, it is even more challenging to make any accurate long-term price predictions for memecoin.
As you know, the crypto market is dynamic and always quickly responds to macro market events that are unforeseeable. Still, by focusing on real-time metrics, one can make some relatively reliable short-term estimates. 

BONK On-Chain Data, Live Price & Buy Signals

If you wish to make your own price prediction both for BONK and for any other cryptocurrency, make a habit of looking at the real-time on-chain data in combination with the live price. Essentially, real-time on-chain metrics allow you to understand what is happening on-chain at any given moment. 
Usually, this data is too complex to decipher for even experienced traders, but with Moralis Money, you can easily and conveniently see what the on-chain data says about a coin at any given moment. 
With that in mind, make sure to visit the Moralis Money $BONK token page or use the interactive widget below. On that page, you’ll find all the resources and tools to properly DYOR this memecoin. However, you should particularly focus on the “Alpha Metrics” and the “Price Chart” section (see the image above). The combination of insights offered by these sections will enable you to come up with your own short-term BONK coin price prediction at any time!

Moreover, if you are serious about your altcoin investing, you’ll want to opt for the Moralis Money Pro or Starter plan. By doing so, you’ll also gain access to the platform’s alert features for individual tokens. As such, you’ll be able to set alerts for when particular price levels or on-chain metrics are reached. Hence, you’ll be automatically notified when these opportunities present themselves. You can learn how to do that from the video at the bottom of this article.
In addition, as a Moralis Money Pro or Starter user, you’ll also get your hands on the best crypto charting tool – Money Line. This powerful indicator utilized the power of price data and on-chain metrics to offer invaluable signals. For instance, it offered its “Bullish” tag for BONK on October 20, 2023: 

The Most Optimistic Price Levels for BONK Crypto in 2024 or 2025

Despite the above-explained facts about price predictions, we can still have some fun with it. And while there are several methods to come up with some speculative price targets, for memecoins, we prefer to use comparison. 
As such, we can take the ATH market caps of the most successful memecoins from the previous cycles as a gauge. Then, we divide those values by BONK crypto’s total supply and get price targets. 
So, these are the most optimistic price levels for BONK during the 2024-2025 cycle tops:

• $0.000435 (Based on comparison with SHIB)
• $0.000738 (Based on comparison with DOGE)

However, it’s also worth noting that every bull season of the cycle typically brings new ATHs for the crypto market as a whole. So, if $BONK were to be the top memecoin of the upcoming cycle, it could go higher than the above prices.  

Is BONK Crypto a Good Investment?

The only person that can answer the above question is you. After all, only you are properly familiar with your current financial situation and your risk appetites. However, by considering your current situation and using the invaluable on-chain insight offered by the above-presented Moralis Money $BONK token page, you should have no trouble deciding if/when to buy this memecoin. 

Where to Buy BONK Crypto

BONK is natively an SPL token, based on the Solana network. So, if you are familiar with the Solana ecosystem, you can find $BONK on several DEXs (decentralized exchanges). Furthermore, aside from Coinbase, there are some other popular CEX offer $BONK crypto trading pairs. 
However, since this memecoin also transitioned to the Ethereum network and other EVM-compatible chains, you can also buy it right on the above-outlined $BONK page. The latter offers an extremely user-friendly swap feature, which deploys advanced security features, and ensures you get the lowest available prices. 
So, if you are looking for a hassle-free path for buying BONK on EVM-compatible chains, simply hit the “Buy” button on the Moralis Money $BONK page and follow the instructions that the swap feature provides: 

Is BONK Crypto a Good Investment? $BONK Price Prediction & On-Chain Data – Key Takeaways

• BONK crypto is a memecoin project that aired in December 2022 with the main goal of elevating the Solana ecosystem.
• 50% of $BONK’s total supply was airdropped to Solana devs and communities, and the other half was allocated strategically. 
• After the initial pump, the BONK price has been in a nine-and-a-half-months-long downtrend from January to October 2023.
• Since October 2023, the BONK coin’s value has increased by more than 200x.
• If BONK were to follow in SHIB’s or even DOGE’s footsteps, it still has more room to grow.
• To determine if/when to buy $BONK, use Moralis Money’s token page for that coin. Unlike other cryptocurrency analysis sites, it offers BONK’s live price and real-time on-chain metrics in a user-friendly manner.  
• This page is also one of the best places to buy BONK on EVM-compatible chains.

Whether you end up buying the BONK crypto or not, you must not forget about other altcoin opportunities. After all, there are many alts with a better risk-reward ratio than this memecoin. And luckily, you can spot those opportunities more easily than ever before with Moralis Money’s blockchain analytics tools. 
Moreover, aside from the token pages, as the one presented in this article, Moralis Money offers several other powerful crypto analysis tools. They include the ultimate crypto whale tracker, crypto scanner, crypto pump detector, and more. With these crypto trading tools in your corner, you can finally catch those 50x-plus altcoin gems. 


Post source:https://moralismoney.com/blog/is-bonk-crypto-a-good-investment-bonk-price-prediction-on-chain-data