Shiba

2024

Bonk

Shiba Inu

<ul>
 <li>BONK’s social metrics surged in mid-December.</li>
 <li style="font-weight: 400;">Market indicators have turned bearish, suggesting a price drop.</li>
</ul>
The year 2023 witnessed the inception of several cryptos and the rise of many, such as <a href="https://ambcrypto.com/search/bonk" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Bonk [BONK]</a>, one of the most popular meme coins of the year. 
The meme coin stole the limelight during the concluding quarter of this year as it registered massive gains. It managed to become the top gainer in 2023. Therefore, AMBCrypto planned to take a look at the meme coin’s journey.
<h4>A look at BONK’s performance in 2023</h4>
BONK did not gain much traction in the crypto space for the majority of the months of 2023. The meme coin became a hot topic of discussion only in December, and its price started to pump massively. 
CryptoDep recently posted a tweet highlighting this incident. As per the tweet, BONK’s price surged more than 800% in 2023. 
While BONK ranked number one on the list of cryptos in terms of price gains in 2023, INJ and PENDLE were sitting in the second and third spots on the same list, respectively.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;">Top Projects by Price Performance in 2023<a href="https://twitter.com/search?q=%24BONK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$BONK</a> <a href="https://twitter.com/search?q=%24INJ&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$INJ</a> <a href="https://twitter.com/search?q=%24PENDLE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$PENDLE</a> <a href="https://twitter.com/search?q=%24NAKA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$NAKA</a> <a href="https://twitter.com/search?q=%24TRB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$TRB</a> <a href="https://twitter.com/search?q=%24ORCA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$ORCA</a> <a href="https://twitter.com/search?q=%24AKT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$AKT</a> <a href="https://twitter.com/search?q=%24RNDR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$RNDR</a> <a href="https://twitter.com/search?q=%24UPO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$UPO</a> <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$SOL</a> <a href="https://twitter.com/search?q=%24RAY&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$RAY</a> <a href="https://twitter.com/search?q=%24CFX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$CFX</a> <a href="https://twitter.com/search?q=%24FET&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$FET</a> <a href="https://twitter.com/search?q=%24STX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$STX</a> <a href="https://twitter.com/search?q=%24BLZ&amp;src=ctag&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">$BLZ</a> <a href="https://t.co/uEVCb3CgTu" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/uEVCb3CgTu</a>
 — <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1fa-1f1e6.png" alt="🇺🇦" class="wp-smiley" style="height: 1em; max-height: 1em;"> CryptoDep #StandWithUkraine <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1fa-1f1e6.png" alt="🇺🇦" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@Crypto_Dep) <a href="https://twitter.com/Crypto_Dep/status/1740747253642633643?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">December 29, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
AMBCrypto’s analysis of Santiment’s chart revealed that BONK’s price has only gained upward momentum since the 3rd of December. As the <a href="https://ambcrypto.com/bonk-price-prediction-shows-bulls-can-pull-off-another-move-north/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">meme coin</a> began its bull rally, it touched the highest value of $0.00003 on the 15th of December. 
The bull rally also allowed the token to increase its value compared to the second-largest meme coin, <a href="https://ambcrypto.com/search/shib" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Shiba Inu [SHIB]</a>. 
Though there were several factors at play, the price hike can be attributed to <a href="https://ambcrypto.com/search/bnb" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Binance [BNB]</a> listing BONK on the platform. This incident spared excitement in the community as buying pressure on the meme coin surged substantially. 
While its price rallied during the middle of December, its popularity also soared, as evident from the massive spike in its social volume. 
Its Weighted Sentiment also increased during that period, meaning that bullish sentiment was dominant in the market.
<div id="attachment_361443" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bonk-BONK-13.03.52-31-Dec-2023.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-361443" decoding="async" class="wp-image-361443 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bonk-BONK-13.03.52-31-Dec-2023.png" alt="" width="3840" height="1300" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bonk-BONK-13.03.52-31-Dec-2023.png 2560w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bonk-BONK-13.03.52-31-Dec-2023-300x102.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bonk-BONK-13.03.52-31-Dec-2023-1024x347.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bonk-BONK-13.03.52-31-Dec-2023-768x260.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bonk-BONK-13.03.52-31-Dec-2023-1536x520.png 1536w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/Bonk-BONK-13.03.52-31-Dec-2023-2048x693.png 2048w" sizes="(max-width: 3840px) 100vw, 3840px"></a>
 Source: Santiment
</div>
<h4>Will the gaining spree continue in 2024?</h4>
Though the last month remained very profitable for investors, things have now started to change. According to <a href="https://coinmarketcap.com/currencies/bonk1/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">CoinMarketCap</a>, BONK was down by over 25% in the last seven days alone. 
Realistic or not, here’s <a href="https://ambcrypto.com/calculator/marketcap" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">BONK market cap in BTC’s terms</a>&nbsp;&nbsp;
At the time of writing, BONK was trading at $0.0000141 with a market capitalization of over $857 million. To understand what lies ahead for the meme coin in 2024, AMBCrypto checked its daily chart.
Our analysis found that the <a href="https://ambcrypto.com/meme-coin-bonk-slumps-30-in-7-days-what-now/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">meme coin</a>’s MACD displayed a bearish crossover. On top of that, the Relative Strength Index (RSI) also registered a downtick, suggesting that the beginning of 2024 might not be profitable for investors.
<div id="attachment_361444" style="width: 100%" class="wp-caption aligncenter"><a href="https://statics.ambcrypto.com/wp-content/uploads/2023/12/BONKUSDT_2023-12-31_13-01-17.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-361444" decoding="async" class="wp-image-361444 size-full" src="https://statics.ambcrypto.com/wp-content/uploads/2023/12/BONKUSDT_2023-12-31_13-01-17.png" alt="" width="1563" height="792" srcset="https://statics.ambcrypto.com/wp-content/uploads/2023/12/BONKUSDT_2023-12-31_13-01-17.png 1563w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/BONKUSDT_2023-12-31_13-01-17-300x152.png 300w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/BONKUSDT_2023-12-31_13-01-17-1024x519.png 1024w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/BONKUSDT_2023-12-31_13-01-17-768x389.png 768w, https://statics.ambcrypto.com/wp-content/uploads/2023/12/BONKUSDT_2023-12-31_13-01-17-1536x778.png 1536w" sizes="(max-width: 1563px) 100vw, 1563px"></a>
 Source: TradingView
</div>

Tracing BONK’s journey as it becomes 2023’s top gainer

AMBCrypto

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