Shiba

Sponge

Dogecoin

Bonk

Shiba Inu

Bonk! Chart / Source: TradingView 
The Bonk! ($BONK) pullback continues to gather pace, with the $BONK price having now fallen more than 60% from the record highs it hit earlier in the month near $0.000035 per token.
<a href="https://cryptonews.com/news/is-bonk-going-to-zero-bonk-price-instantly-drops-20-as-attention-moves-to-new-meme-coin-mk.htm" rel="noopener noreferrer nofollow">$BONK</a> was last trading just above $0.0000135 and is below its 21DMA for the first time since October as traders take profit following a stellar run higher this quarter.
At its peak, Bonk!’s market cap surpassed $1.7 billion this month, making it the world’s third most valuable meme coin after only <a href="https://cryptonews.com/coins/dogecoin/" rel="noopener noreferrer nofollow">Dogecoin</a> ($DOGE) and <a href="https://cryptonews.com/news/shiba-inu-price-prediction-as-200-million-trading-volume-comes-in-time-to-buy.htm" rel="noopener noreferrer nofollow">Shiba Inu</a> ($SHIB), though its market cap has since shrunk to under $900 million.
That’s a <a href="https://cryptonews.com/news/as-bonk-continues-to-explode-to-new-heights-is-this-rival-next.htm" rel="noopener noreferrer nofollow">stunning rally given that in mid-October</a>, its market cap was under $10 million.
<h2 id="bonk-bonk-price-prediction-can-it-recover-from-this-significant-decline">Bonk! ($BONK) Price Prediction – Can It Recover From This Significant Decline?</h2>
 Meme coin markets are highly unpredictable, meaning its tough to make near-term price forecasts.
Cryptocurrencies like Bonk! are driven primarily by speculation rather than fundamentals, explaining this unpredictability.
That being said, Bonk! has been enjoying some fundamental tailwinds that go a long way to explaining its recent ascent toward the top of the meme coin rankings.
<a href="https://cryptonews.com/coins/sol-solana/" rel="noopener noreferrer nofollow">Solana</a>, the blockchain on which it is issued, <a href="https://cryptonews.com/news/solana-price-prediction-as-sol-drops-10-time-to-buy-the-dip.htm" rel="noopener noreferrer nofollow">has been pumping hard in recent weeks</a> amid an explosion of meme coin trading and airdrop-hunting activity on the network that has seen transactions and active users shoot higher.
Bonk! has become something of a flagship meme coin for the Solana network, and its rise to become the third-largest meme coin by market cap is a testament to Solana’s potential to rival the <a href="https://cryptonews.com/coins/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> and <a href="https://cryptonews.com/news/bitcoin-news/" rel="noopener noreferrer nofollow">Bitcoin</a> networks.
Indeed, Solana is now the fourth largest crypto network by market cap, sat only behind Bitcoin, Ethereum and <a href="https://cryptonews.com/news/bnb-price-prediction.htm" rel="noopener noreferrer nofollow">BNB</a>.
Solana’s strong outlook suggests that interest in Bonk! is likely to remain high amongst speculators, even if smaller cap meme coin’s offer a higher likelihood of 10 or 100x gains.
<h2 id="meme-coin-alternative-to-consider-spongev2">Meme Coin Alternative to Consider – $SPONGEV2</h2>
 One such meme coin that could offer much higher upside prospects that Bonk! is Sponge V2.
<a href="https://cryptonews.com/visit/sponge" rel="noopener noreferrer nofollow">Sponge V2</a>&nbsp;($SPONGEV2) is the reincarnation of the legendary Spongebob Squarepants-themed $SPONGE token, which reached a market cap of nearly $100 million earlier in 2023 and delivered gains to its earlier investors in the region of 100x.
$SPONGE token holders will be able to stake their tokens to receive an equivalent amount of $SPONGEV2 tokens, as well as to start earning staking rewards (paid out in $SPONGEV2) with a minimum APY of 40%.
$SPONGEV2’s main advantage over $SPONGE is that it will power a new play-to-earn game, the details of which are yet to be released.
But we do know that there will be a free version and paid version of the game.
<a href="https://cryptonews.com/visit/sponge" rel="noopener noreferrer nofollow">Visit Sponge V2 Here</a>

Bonk Price Prediction as BONK Falls More Than 50% From Peak – Can It Recover From This Significant Decline?

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