Shiba

Solana

Sponge

Snek

Bonk

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  <p class="cn-block-disclaimer__content">Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.</p>
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 <p class="is-style-lead">BONK is trending after it rose 316% in one month, peaking at $0.000035 on Dec. 15. The surge follows its listing on Binance and Coinbase. But after the initial excitement wore off, BONK retraced by almost 50% in the 12 days.</p>
 <h2 class="wp-block-heading" id="strong-bonk-drops-as-traders-take-profits-strong"><strong>Bonk drops as traders take profits</strong></h2>
 <p>Listings on Binance and Coinbase often spark some excitement, leading to temporary price spikes.&nbsp;</p>
 <p>However, this excitement is frequently followed by a market correction as early investors cash out, a trend evident in BONK’s recent price movement.</p>
 <p>After peaking on Dec. 15, BONK more than halved in the next few days.</p>
 <p>Recent data from CoinGecko shows that BONK is down by about 14% in the last 24 hours. It’s trading near $0.00001556 at press time, with a market capitalization of over $947 million.</p>
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 <p>Insights from Lookonchain suggest that this decline may be linked to large-scale token movements. Notably, a trader sold approximately 52.3 billion BONK (valued at around $927,000) soon after its listing on Binance.</p>
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    <p lang="en" dir="ltr">As #Binance announced the listing of $BONK, the price of $BONK rose above $0.00003, an increase of more than 1000% within a month.<br><br>A trader sold 52.3B $BONK($927K) today and made ~$784K.<br><br>This trader bought 69B $BONK at ~$0.0000021 and staked from Oct 30 to Nov 29. pic.twitter.com/DxMyv7u66E</p>— Lookonchain (@lookonchain) December 15, 2023
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 <p>It is also suspected that DWFLabs moved about 50 billion BONK, worth around $1.6 million, to Binance, increasing selling pressure and contributing to the price drop.</p>
 <p>Furthermore, chart <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> of BONK reveals a break from an ascending channel pattern on its daily chart, a sign typically indicating strong buying momentum over time.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/RVxuD-6Tw15C2dYoVGPTkkl9MUZTm3wW5fjSjnChbyAWECeQv1PTR1ne1YaLbkqFh49KCiZndCVplV-4Z1oDkGaUxcAhCsQ85vBYewIXIyiUnJkfgtAw3kzYrO8XtieA2XdR8Jwx-_3IB7AA34Xb_8Y" alt="Bonk drops 13%, analysts watching 3 meme coin alternatives - 1">
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 <p>However, the token recently broke its usual pattern in the last few days. This kind of break typically indicates a temporary return of negative market sentiment.</p>
 <p>BONK’s current situation is similar to the trend seen in other meme coins like Shiba Inu, where big sell-offs often happen after a major listing.</p>
 <p>Even though BONK is trying to recover from its support level at $0.000013, focus is on new meme coins like Sponge V2 and Meme Kombat following their recent launch announcement.</p>
 <h2 class="wp-block-heading" id="strong-exploring-alternative-meme-coins-strong"><strong>Exploring alternative meme coins</strong></h2>
 <p>As BONK struggles to gain momentum, investors are looking for <a rel="noopener noreferrer nofollow" title="alternative" href="https://thebittimes.com/tag/alternative.html">alternative</a> meme coins.</p>
 <p>These are:</p>
 <h3 class="wp-block-heading" id="strong-sponge-v2-sponge-strong"><strong>Sponge V2 (SPONGE)</strong></h3>
 <p>Sponge V2 is an upgraded crypto building on the original Sponge token’s success, which surged 100x in 2023.&nbsp;</p>
 <p>It offers more utility and improved <a rel="noopener noreferrer nofollow" title="Category Features" href="https://thebittimes.com/features.html">Features</a>, including a “stake-to-bridge” model and a play-to-earn (P2E) gaming platform.</p>
 <p>The stake-to-bridge mechanism is at the core of Sponge V2.</p>
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 <p>It allows Sponge V1 holders to stake and receive an equivalent amount in V2 tokens, ensuring a smooth transition to the new version and highlighting long-term value.</p>
 <p>Sponge V2 also offers an appealing minimum APY of 40% over four years for staking, showing its focus on community rewards and sustainable growth.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/0q3V4zveHVtZHSHlQW_REDuLX01v2yHTlHV3dsuCAeCshIEW6nrbqtgBHZENnBoldIZjQ8dYUMVjDTnreQTqsk_wlYBCg2tGEKGsliVPCcY8LWPKq531PIg3hKIpcJDes1da_-GI-PjrIoc_44EmeUY" alt="Bonk drops 13%, analysts watching 3 meme coin alternatives - 2">
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 <p>The recent dip in SPONGEV1’s price has caused some panic among investors. However, the recent upgrade to V2 can offer a new opportunity as the platform aims to increase its utility and offer even more rewards.</p>
 <p>A key addition is the Sponge Racer P2E game, which increases Sponge V2’s utility and market appeal, allowing users to earn more tokens through gameplay.</p>
 <p>Sponge V2 has a total supply of 150 billion tokens, with 43.09% allocated for staking rewards and 8% for the P2E ecosystem.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/2yJ0thpp_l8S8Ey-LqUz5QjrDc1sVylhU0sBrxPRxNYb_haIIev2FgKowibrMQ8z0L0kR1Ibl8oEUK3rNp-_vuImmrkwmC8kQfbSKgpseipPINkZG2-pl2VfJ0oZ_vZneSi3YoZPyWlp8gZNHpN2gWg" alt="Bonk drops 13%, analysts watching 3 meme coin alternatives - 3">
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 <p>This distribution aims to increase user participation and token utility. The project has a community base of over 30,000 members and is anticipated to grow.</p>
 <p>Sponge V2 aims for listings on exchanges like Binance and OKX, which could replicate the success of its predecessor by increasing visibility and trading volume.</p>
 <h3 class="wp-block-heading" id="strong-2-meme-kombat-mk-strong"><strong>2. Meme Kombat (MK)</strong></h3>
 <p>Meme Kombat is a new meme coin offering a mix of AI-driven battles and staking options.</p>
 <p>It offers a betting system where users wager on AI-generated meme battles.</p>
 <p>It celebrates meme culture, featuring popular memes like Pepe and Doge in high-quality art for its Battle Arena.</p>
 <p>The platform has a P2E game where users can earn tokens by betting on meme battles, adding an interactive dimension to the meme coin experience.</p>
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 <p>These battles are conducted on-chain for transparency, with AI ensuring random and fair outcomes. This not only makes investing fun but also increases user engagement.</p>
 <p>Meme Kombat has a total supply of 120 million tokens, with 50% offered in the presale. In the ongoing presale round, MK is available for $0.257 but will rise to $0.268 in the next phase.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/piswJFwwJbT-cI4z6u58hZygbgi1REuYh_0rFcjL2D9BjfUblTVZ41esjMwaAZFB7O5Om3UF8_XlaqIC6cujGx3vStfOhIAdTvE2YlURK9FiIsfRRWhIJZGGaIje3B-u1payYCltQ3UyPlHCqnnGyOY" alt="Bonk drops 13%, analysts watching 3 meme coin alternatives - 4">
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 <p>.</p>
 <p>A key feature is the high APY of 228% for staking, although this rate might decrease as more users participate.</p>
 <p>As its community grows, the project has successfully raised over $4.6 million.</p>
 <h3 class="wp-block-heading" id="strong-3-snek-snek-strong"><strong>3. Snek (SNEK)</strong></h3>
 <p>Snek (SNEK) is a meme token on Cardano aiming to be the “go-to” coin for casual memes within this ecosystem.</p>
 <p>It has recently seen a massive surge in interest after listings on major exchanges such as MEXC and LBank.</p>
 <p>The project focuses on fair distribution at launch, avoiding any reserved supply for team members.</p>
 <figure class="wp-block-image"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/AAu8iG3KGvX6WmcBwlaKR6sTZ42yRaY6inm1XkMbYA-K3Yby9CbLJVgWqPmf0wV2hcX9ZSbXC5s2zHHOAaui1SIEivKFWdNalZJ9pZprpF0UeJjDmRBiFBO4aHy5ZOliFe8DhqJy1bQonNUtayPIbGo" alt="Bonk drops 13%, analysts watching 3 meme coin alternatives - 5">
 </figure>
 <p>It is launched with a fair allocation strategy, ensuring no special allocation for founders and distributing 50% to presale holders, 40% for initial liquidity, 2% for air<a rel="noopener noreferrer nofollow" title="drops" href="https://thebittimes.com/tag/drops.html">drops</a>, 5% for utility, and 3% reserved for various purposes like exchange listings and partnerships.</p>
 <p>The platform also has plans to increase its utility by launching the “Snek Game” and “Snek Exchange” in the days ahead.</p>
 <p><br>Its X account has over 30K followers.</p>
 <p>SNEK is trading at $0.0017 with a market capitalization exceeding $130 million. It is currently among the top 15 meme coins by market cap.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bonk-drops-13-analysts-watching-3-meme-coin-alternatives-tbt74920.html">https://thebittimes.com/bonk-drops-13-analysts-watching-3-meme-coin-alternatives-tbt74920.html</a></p>

Bonk drops 13%, analysts watching 3 meme coin alternatives

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