The price of Solana-based meme token Bonk (BONK) has risen by 90% in the past 24 hours, with the new Shiba Inu-styled altcoin launching at the end of December following a large-scale airdrop. The cryptocurrency is also up by a whopping 2,200% since going live, creating a serious expectation that it’s the next big thing in dog-related meme tokens.
Of course, the problem with most meme coins is that, beyond an association with unpredictable pumps, they don’t have much in the way of fundamentals. Bonk hopes to counteract this to some extent by eventually launching its own DAO and linking with various parts of the Solana ecosystem, yet time will tell if it can become more than just another flash in the pan.
Bonk Price Prediction as Latest Memecoin BONK Blasts Up 2000% in 5 Days – Is This the Next Shiba Inu?
BONK has seen a steady increase in volume and price since becoming tradeable at the end of last month. This being crypto, and BONK being a meme coin, it’s extremely hard to say when the momentum may shift downwards.
That said, it’s been less than a week since BONK entered the market, so it may have at least a few days to run before early holders begin dumping their bags en masse on newcomers.
If nothing else, BONK’s launch underlines the value of being involved in a network’s ecosystem. That’s because 50% of its total maximum supply (of 100 trillion BONK) was aidropped to various developers, creators and NFT holders within the Solana community.
As the pie chart above illustrates, 5% of BONK’s total supply was aidropped to Solana developers, 20% to holders of Solana-based NFT collections, 10% to artists and collectors, and 15% to users of Solana-based DEX OpenBook. The rest will go to a mmix of early contributors (who have to vest their BONK for three years), exchange liquidity, marketing and team development.
Other than that, there’s not much to say about BONK. Its team describe it as “the first Solana dog coin for the people,” although what it does for ‘the people’ (outside of Solana contributors and developers) is anyone’s guess.
Still, what cryptocurrency investors tend to pay attention to more than anything else is not fundamentals, but price movements. And to be fair, BONK has had an excellent opening week so far, and has already cracked the top 250 coins by market cap.
Needless to say, it won’t sustain price growth for long if there isn’t a genuine use case behind it. In this respect, it is encouraging to note that it already partners with just over 10 developers and/or projects within the Solana ecosystem, something which may help it integrate with various platforms over the coming weeks and months.
Altcoins with Fundamentals
Seeing as how BONK is very much a meme token, it may be worth looking at other new altcoins with stronger fundamentals. There are actually a fair few of these in the market, with presale coins offering arguably the best chances of making a significant profit amid ongoing bearish conditions.
Indeed, presales had a great 2022, with Lucky Block (LBLOCK), for example, witnessing an increase as high as 6,000% in February, compared to a sale price of $0.00015. Similarly, Tamadoge (TAMA) rose by as much as 1,800% compared to its presale price in October, when it was listed on OKX.
This shows how new altcoins with decent fundamentals and models can make a big profit. Accordingly, we’ve picked three of the most promising token sales happening right now, with exchange listings due soon.
Fight Out (FGHT)
Fight Out (FGHT) is an Ethereum-based move-to-earn platform that combines real-life workouts with Web3. Taking the lead from earlier M2E platforms such as STEPN, it will track and reward a wide range of workouts, including boxing, weightlifting and yoga, while also offering a range of in-app and IRL courses at its own branded gyms.
Launched last month, its token sale has already raised over $2.6 million, with 1 FGHT currently going for $0.0166 (this will increase in later stages of the sale). Investors can participate by going to its official website and connecting their Connect Wallet or MetaMask wallets.
Visit FightOut Now
Dash 2 Trade (D2T)
Also running on Ethereum, Dash 2 Trade is a trading intelligence platform that is set to launch in the next few months, when it will provide real-time analytics and social trading data. It offers investors of all experience levels all the resources and tools they could need to improve their trading performance.
The sale of its D2T token has raised over $13.1 million and is due to end in only two days. It has also announced listings on BitMart, Changelly Pro, and LBANK Exchange for early 2023, with the first due this time next week (January 11).
Visit Dash 2 Trade Now
C+Charge (CCHG)
C+Charge (CCHG) is a peer-to-peer payment network for electric vehicle (EV) charging stations, one which aims to democratize access to carbon credits. Based on BNB Chain, it launched the sale for its native CCHG token before the end of 2022, with CCHG set to be used within its network by EV owners to pay to charge their vehicles.
C+Charge will also reward users with carbon credits for charging their EVs at its stations, while the platform has already signed a deal with Perfect Solutions Turkey, adding 20% of the EV chargers in Turkey to its network.
Visit C+Charge Now
Credit: Source link
