BONK Coin Struggles To Recover After 85% Drop, Where Is It Going?
The post BONK Coin Struggles To Recover After 85% Drop, Where Is It Going? appeared on BitcoinEthereumNews.com.
Boni (BONK) coin crashed with an over 85% drop from its all-time high. It peaked at about $0.00008 and plummeted, currently trading around $0.0000115. The market value has been erased in billions, and no apparent recovery exists. As per CoinMarketCap, BONK’s market capitalization currently stands at $966.06 million, with a 24-hour trading volume of $154.83 million. Amid this, BONK cin dropped sharply to find itself in a precarious position where it needs to prove that it is worth a trader’s time and interest. Challenges Facing BONK coin’s Recovery While recovery cycles have been seen in the broader cryptocurrency market following downturns, BONK does not fall into the same category. Its strong fundamentals are lacking, so a steady comeback is unlikely. Unlike Dogecoin and Shiba Inu, which already built up communities behind them and have a story of ongoing development, BONK lacks those essential ingredients to help a sustained recovery. Snap | Source: AstroFrog on X Traders quote about these concerns on social media. They state that it’s unlikely that the token will again reach its previous price levels without adding an appealing narrative, a vibrant community, or significant development. Meme coins have the power to drive investor interest and keep the hype going. BONK coin, however, has not been able to retain the enthusiasm needed for a significant push upwards. Experts explain that it takes more than just high market capitalization for a struggling meme coin to be revived. Additionally, BONK has lacked new fresh use cases to sustain in the graph, thus creating uncertainty. The token initially benefited from its association with Solana ecosystem growth. However, its long-term value will be questionable without further adoption or real-world applications. While DOGE has received the likes of Elon Musk endorsing it or SHIB, which is actively building its ecosystem, BONK coin…
Filed under: News - @ March 22, 2025 7:17 pm