BONK Flips WIF Targets DOGE Crown: Some Traders Are Now Storing Profits In BONK Rather Than SOL
With Solana (SOL) gearing up to surpass its all-time high price of $259.96, Bonk (BONK)
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has found itself as the network’s leading meme coin by market cap, overtaking Dogwifhat (WIF)
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in the process.
BONK is up +2.8% on the day and +40.8% over the past week, per CoinGecko. The total market cap now sits at around $4.04 billion at the time of writing.
BREAKING: $BONK (@bonk_inu) NOW LEADS $WIF (@dogwifcoin) BY OVER $1 BILLION IN MARKET CAP – SOLIDIFIES SOLANA MEMECOIN LEADERSHIP STATUS pic.twitter.com/GkS6eA0sa5
— DEGEN NEWS (@DegenerateNews) November 20, 2024
DON’T MISS: The Best Dog Themed Meme Coins to Buy in 2024
As Bonk Cements Itself As Solanas Biggest Meme Coin, Previous Incumbent, WIF, Enters A Worrying Downtrend
In comparison, Bonks’ main competitor and recent number one Solana meme coin, WIF is down -7.7% on the day and only up +4.5% over the past 7 days.
WIF’s decline, coupled with BONK’s surge, has led to it overtaking Dogwifhat in market cap. WIF’s market cap is now just shy of $3.3 billion.
Dogwifhat received a Coinbase listing a week ago today. At the time of the announcement, WIF was trading at around $2.96 before surging to $4.29 the following day.
Many speculated that WIF’s Coinbase listing would be the catalyst for the animal-themed meme coin’s break from its March all-time high of $4.83.
However, it is now close to rounding out all of the gains made since that Coinbase listing, as it is now in a downtrend, trading at around $3.2.
DISCOVER: AI Meme Coins Are Front And Center Right Now: But These Two Animal Coins Are Secretly Cooking
With Bonk Absolutely Ripping Some Traders Are Now Rotating SOL Profits Into BONK
Been thinking about how to store trading profits while the whole market is in an uptrend
Stacking $sol is the obvious choice
But $bonk is shaping up to be the chosen retail dog coin of the cycle
Will be allocating a portion of $sol profits into $bonk since I expect it to… pic.twitter.com/asWEVsVaGa
— Avocado Toast (@avocado_toast2) November 19, 2024
Today (November 20), Bonk hit a new all-time high price of $0.00005825 after breaking its own record numerous times in the past week. In doing so, it looks to have cemented itself as the chosen retail dog coin of this cycle.
(BONKUSDT)
The new meme coin leader comprises multiple utility layers, namely its BONKbot (Telegram trading bot) or BONKSwap (Solana DEX). Now, Bonk’s governing DAO has embraced an initiative called ‘BURNmas’, a festive token-burning campaign due to conclude on Christmas Day.
Community members can participate in numerous activities that will add to the number of BONK burned throughout the festive period. The initial plan is to burn up to 1 trillion BONK tokens, representing 1.3% of its circulating supply. With the token supply being reduced, many are calling for a supply shock, which can lead to an explosion in price.
However, the total amount of BONK burned will be determined by the community’s ability to complete various tasks, such as following a Bonk Instagram page or recording steps in the fitness app Moonwalk.
BONUS: Less Than 5 Days Remaining To Buy $BEST Presale Tokens At These Exclusive Prices
Only 5 days left of the exclusive $BEST presale! ⏳
Hurry and lock in your tokens at the lowest price before they go on general sale. 🚀
This is your chance to secure exclusive early access.
Download the app 👉 https://t.co/he5kzra7TY pic.twitter.com/MfBKS0fUTP
— Best Wallet (@BestWalletHQ) November 20, 2024
Best Wallet is going viral on its mission to disrupt the Web3 wallet sector and uninspiring dinosaurs such as MetaMask. Its ongoing presale just smashed through the $500,000 funding barrier as retail traders flock to buy $BEST at these incredibly low prices.
The $BEST presale is rapidly emerging as a low-cap gem of choice for retail traders, and it’s easy to see why when you examine the hottest Web3 wallet on the market.
Best Wallet is full of incredible features and tools to enhance the user’s profitability and user experience in an innovation on the slow, clunky wallets commonly used, such as MetaMask and Trust Wallet.
At the heart of this project is the $BEST token, which is currently in its presale phase. Right now, it is available exclusively through the ‘Upcoming Tokens’ feature in the Best Wallet app.
Due to this, Best Wallet is being downloaded in spades on Android and IOS as the race to secure a stack of $BEST tokens heats up.
The ‘Upcoming Tokens’ feature also showcases one of the unique use cases for Best Wallet: early access.
Through the Best Wallet app, users can gain a highly sought-after edge in the crypto space, with early access to potential moonshot investments before they open to mainstream trading.
This feature is the evolution of what a Web3 wallet is capable of. The ‘Upcoming Tokens’ feature represents the first-ever crypto wallet that enables you to participate in new and vetted presales directly from within the wallet app.
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