Memecoin $BONK is losing its bullish momentum but is not losing its hype just yet
that though the coin is trading at a price of $0.000001539, up 1.62% over the past 24 hours, it is at a level that is a far cry from its best performance in the past seven days.
Bonk undoubtedly entered 2023 with a skyrocketing price run, and as of the end of the first trading week of the year, it hadby more than 605%. With its growth leap, the meme coin attained an all-time high of $0.000004922. At the current price, the coin is only up by 22.4% in the week-to-date period, showing slowed-down momentum in accumulation.
One thing that is peculiar to meme coins is that volatility is often extreme in the early stages, and investors often look for the next major surge to sell off their assets. Bonk is currently experiencing a similar trend, and its price is down by 68.2% from its ATH attained barely six days ago.Bonk's rise stems from what appears to be a longing from the Solana community to get its own dog-based meme.
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