Solana’s BONK Loses 76% of 2024 Gains Amid Market Downturn
Solana-based meme coin BONK has seen a significant decline, erasing all its gains from 2024 with a drop of approximately 76% from its peak. This downturn is attributed to broader market volatility, particularly influenced by the recent decline in Bitcoin prices and economic factors like trade tensions.
Key Points on BONK's Performance
- BONK has retraced its 2024 gains entirely and marked its highest crash at 76.08% recently.
- The meme coin faced three major pullbacks in 2024, with declines exceeding 60% each time.
- Current price stands at $0.000018, reflecting past support levels.
- In the past month, BONK fell by 48.02%, with an additional 28.46% drop over the last week.
- Market analysts suggest a potential price rebound within 7 to 90 days based on historical patterns.
Investment Outlook
- The current price level may represent a buying opportunity for investors familiar with BONK's historical recovery trends.
- The overall crypto market outlook for 2025 appears bullish, with increasing speculation around Solana-based ETFs.
- The introduction of a Solana ETF could stimulate institutional interest, benefiting meme coins including BONK.
- Possibility of a BONK ETF is highlighted, potentially increasing demand.
