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BONK Drops $90 Million in Market Cap in 10 Days: Is the Buzz Over?

Bonk was controlling a market cap of $58,44 million as of this writing.This is a drop of approximately $90 million in the past 10 days.Millions of Bonk tokens had been burned...
BONK Drops $90 Million in Market Cap in 10 Days: Is the Buzz Over? BONK Drops $90 Million in Market Cap in 10 Days: Is the Buzz Over?
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  • Bonk was controlling a market cap of $58,44 million as of this writing.
  • This is a drop of approximately $90 million in the past 10 days.
  • Millions of Bonk tokens had been burned according to the Solana team.

The meme-based cryptocurrency, Bonk (BONK), recently had considerable capital inflows, but is now under selling pressure with the early enthusiasm around the token appearing to be waning.

At press time, BONK had a market cap of $58.44 million, representing a loss of about $90 million within 10 days. The token had a market cap of $150.94 million on January 6, according to CoinGecko data.

BONK 10-day market cap chart, source: Coingecko

It is essential to keep in mind that once this token was available for Solana (SOL) developers and the NFT community, BONK registered a price breakout in comparison to the rest of the market.

Industry experts noted that a price gain was also recorded for Solana after many weeks of correction, which was beneficial to the crypto since developers had recently shown support for the token.

On the same note, it was reported by the Solana team that millions of BONK tokens had been burned, and it is believed that the token will play an important part in the impending release of the Solana smartphone.

Solana Mobile additionally claimed that every pre-order for a Solana Saga phone would result in the burning of 5 million BONK tokens. These 5 million BONKs will allegedly be airdropped into the wallets used to purchase the Solana Saga smartphones.

In conclusion, BONK has been changing hands at $0.000001 in the past 24-hours with a trading volume of $21 million within the same period. On the upside, BONK has surged by 21.08% in the last 24-hours, pushing it to a CoinMarketCap ranking of No. 2,595.

The post BONK Drops $90 Million in Market Cap in 10 Days: Is the Buzz Over? appeared first on Coin Edition.

See original on CoinEdition

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07-06-2023 06:46:50 (UTC+7)

EUR/USD

1.0695

+0.0002 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (4)

EUR/USD

1.0695

+0.0002 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (4)

GBP/USD

1.2426

+0.0002 (+0.02%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (4)

USD/JPY

139.59

-0.05 (-0.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (6)

AUD/USD

0.6675

+0.0004 (+0.06%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (5)

USD/CAD

1.3402

-0.0001 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

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Buy (3)

Sell (2)

EUR/JPY

149.30

-0.02 (-0.01%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (5)

EUR/CHF

0.9706

0.0000 (0.00%)

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↑ Buy

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Buy (3)

Sell (2)

Gold Futures

1,979.50

-2.00 (-0.10%)

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Sell (7)

Silver Futures

23.677

+0.007 (+0.03%)

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Buy (9)

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Copper Futures

3.7668

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Sell (7)

Crude Oil WTI Futures

71.75

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Brent Oil Futures

76.12

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Natural Gas Futures

2.268

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US Coffee C Futures

184.08

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Buy (5)

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Euro Stoxx 50

4,295.22

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Sell

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Sell (6)

S&P 500

4,283.85

+10.06 (+0.24%)

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Buy (3)

Sell (2)

DAX

15,992.44

+28.55 (+0.18%)

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↑ Sell

Moving Avg:

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Sell (6)

FTSE 100

7,628.10

+28.11 (+0.37%)

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↑ Sell

Moving Avg:

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Sell (8)

Indicators:

Buy (1)

Sell (7)

Hang Seng

19,099.28

-9.22 (-0.05%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

1,856.34

+49.63 (+2.75%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

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IBEX 35

9,310.80

+21.70 (+0.23%)

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↑ Buy

Moving Avg:

Buy (12)

Sell (0)

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Sell (0)

BASF SE NA O.N.

46.760

+0.225 (+0.48%)

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↑ Sell

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Bayer AG NA

52.28

+0.16 (+0.31%)

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Allianz SE VNA O.N.

210.50

+0.55 (+0.26%)

Summary

Sell

Moving Avg:

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Adidas AG

159.68

+1.38 (+0.87%)

Summary

Neutral

Moving Avg:

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Indicators:

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Deutsche Lufthansa AG

9.141

+0.030 (+0.33%)

Summary

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Siemens AG Class N

158.36

-0.16 (-0.10%)

Summary

Neutral

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Deutsche Bank AG

9.784

+0.088 (+0.91%)

Summary

Neutral

Moving Avg:

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Sell (5)

    EUR/USD 1.0695 ↑ Sell  
    GBP/USD 1.2426 ↑ Buy  
    USD/JPY 139.59 ↑ Sell  
    AUD/USD 0.6675 Neutral  
    USD/CAD 1.3402 ↑ Buy  
    EUR/JPY 149.30 Sell  
    EUR/CHF 0.9706 ↑ Buy  
    Gold 1,979.50 ↑ Sell  
    Silver 23.677 ↑ Buy  
    Copper 3.7668 ↑ Sell  
    Crude Oil WTI 71.75 ↑ Buy  
    Brent Oil 76.12 Sell  
    Natural Gas 2.268 Buy  
    US Coffee C 184.08 ↑ Buy  
    Euro Stoxx 50 4,295.22 Sell  
    S&P 500 4,283.85 Buy  
    DAX 15,992.44 ↑ Sell  
    FTSE 100 7,628.10 ↑ Sell  
    Hang Seng 19,099.28 ↑ Buy  
    Small Cap 2000 1,856.34 ↑ Buy  
    IBEX 35 9,310.80 ↑ Buy  
    BASF 46.760 ↑ Sell  
    Bayer 52.28 ↑ Buy  
    Allianz 210.50 Sell  
    Adidas 159.68 Neutral  
    Lufthansa 9.141 ↑ Buy  
    Siemens AG 158.36 Neutral  
    Deutsche Bank AG 9.784 Neutral  
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