NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

BONK Tumbles 66% – Can The ‘Dogecoin Killer’ Live Up To Its Name?

Christian Encila
Christian Encila
2 years ago
3 mins read
BONK

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The previous 24 hours have been impressive for the cryptocurrency market, which is seeing a broad-based rebound on numerous fronts.

Despite this development, as evidenced by a combined crypto market valuation increase of 3.4% to $880 billion as of Thursday, Solana’s newly minted canine-centered memecoin BONK has experienced a huge price decline relative to its competitors.

As of writing, BONK is trading at $0.000000968754, and down a whopping 66% in the last seven days, data by Coingecko show. In the last 24 hours alone, BONK has lost 1.6% of its value.

Chart: Coingecko

BONK Succumbs To Bearish Pressure

Despite its initial success, the memecoin BONK has had a difficult go of it in the weeks following its launch. The token, which appeared out of nowhere and quickly rose to rank among the top 200 cryptocurrencies in terms of market value, was hit hard by a significant bearish trend around Thursday afternoon.

It has significantly outpaced the market since the beginning of the year, on the heels of a retail buy-up that pitted the dog-themed cryptocurrency against existing meme coin heavyweights Dogecoin (DOGE) and Shiba Inu (SHIB).

There have been claims of wealthy investors purchasing millions, if not billions, of the viral coin BONK during the past few of weeks. Consequently, Thursday’s drop is a shock to investors with high aspirations for the cryptocurrency.

This week, BONK became the latest meme token to attract the attention of traders with a huge 3,300% increase. Following that, the developers of the cryptocurrency burnt their remaining tokens, which represented 5% of the whole BONK cryptocurrency supply.

BONK

Chart: TradingView

Dogecoin Rival Leans On Solana Community’s Support

BONK was introduced on December 25, 2022, and its price has since increased by a four-digit proportion. Additionally, the token dominated social trading platforms. Analysts attributed the new token’s success to the Solana community.

The token’s value has been struggling to bounce back from its 66% loss in the face of continued negative growth rate, which caused it to give up some of the gains it made over the previous weeks.

When we zoom in on BONK’s growth during the past two weeks, we see that it has increased by almost 1,000% throughout this period.

Crypto total market cap at $864 billion on the daily chart | Chart: TradingView.com

Related Reading

TRON

TRON Snags No. 2 Spot In TVL As Revenue Spikes Despite Bear Market Pressure

2 years ago

All of these occurrences have created a frenzy about the Solana-based token. They also increase the optimism of token holders that the crypto will gain credibility and cease to be a fad.

Nevertheless, as a result of the recent negative outburst, the fully diluted market capitalization has decreased by 32.61% to $102 million, while the 24-hour trading volume of the altcoin has grown by a staggering 200% to $36 million.

This is direct evidence that a substantial number of SOL whales are selling their BONK assets in order to generate large profits.

-Featured image by Decrypt

Tweet123Share196ShareSend
Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Celebrating a Milestone: UXLINK Marks First TGE Anniversary and Three Years of Innovation, One-on-One with Rolland Saf, CEO of UXLINK

As of July, UXLINK celebrates nearly three years of pioneering development in Web3, alongside the first anniversary of its Token...

News BTC 3 hours ago
Bitcoin crash

Analyst Calls For Bitcoin Crash As Price Pulls Above $108,000 — Details

The past weekend was favorable for Bitcoin as the price was able to rebound from last week’s lows and go...

Scott Matherson 5 hours ago
solana

Solana Summer Loading? SOL Eyes $180 Following Staked ETF-Fueled Breakout

Solana (SOL) has retested a crucial resistance level after recovering the $150 level over the weekend. The surge, fueled by...

Rubmar Garcia 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Saylor (Strategy): Acquisto Bitcoin da 530 Milioni di Dollari

clararosati 25 minutes ago

Labākās kriptovalūtas, ko iegādāties jūlijā – nākamie kriptovalūtas dārgakmeņi

lasma 2 hours ago
Ethereum price news

Ethereum Just Got Its MicroStrategy—Tom Lee Bets On Soaring ETH Price

Jake Simmons 3 hours ago

Premium Sponsors

Press Releases

  • 初の国家デジタル通貨銀行で銀行業界が新時代へ:今買うべき仮想通貨おすすめとは?

    ...

    2 minutes ago
  • 新しい仮想通貨プレセール開始|次世代の革新的ミームコインが登場か?

    ...

    14 minutes ago
  • fun

    This Simple Deposit Trick Could Win You 100,000 FUN...

    15 minutes ago
  • 仮想通貨おすすめ|ビットコインがQ3に最高値を更新する前に注目すべき新興トークンとは

    ...

    1 hour ago
  • UK-certified ETHRANSACTION Cloud Mining Launches Best Free...

    2 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.