Solana’s BONK Surpasses Shiba Inu and Dogecoin Trading Volumes

The Solana-based memecoin BONK has experienced a significant price increase, remaining flat for most of 2023 but soaring over the last month, especially after being listed on Coinbase, with trade volume exceeding $30 million.

Despite recent volatility, including a 14% daily drop, a 40% weekly decline, and a 12% reduction over 14 days, BONK’s price has surged by over 6700% since January, outperforming Solana and Bitcoin.

While BONK’s future remains uncertain due to limited utility and competition from Dogecoin and Shiba Inu, predictions by CoinCodex suggest it may consolidate, with a potential to reach $0.00001487 by Jan. 1, 2024, and possibly increase in value if Solana gains momentum or a bull run occurs in 2024