Shiba

Solana

DeFi

Dogecoin

Shiba Inu

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bonk-tokens-performance-and-developments/" data-wpel-link="internal">BONK Token’s Performance and Developments</a><br></p>
<p style="text-align: justify">The popular <strong>meme token</strong> BONK has seen an increase of 3.9% in the last seven days and 1,011% in the last 12 months. In recent months, the Solana-based altcoin has been more in the crosshairs of investors than <a href="https://en.coin-turk.com/shib-experiences-over-20-value-loss-is-shiba-inu-preparing-for-a-new-drop/" data-wpel-link="internal">Shiba</a> Inu (SHIB) and Dogecoin (DOGE).</p> 
<h2 id="declining-interest-in-bonk">Declining Interest in BONK</h2> 
<p style="text-align: justify">The cryptocurrency is trading at $0.00001151, experiencing a decrease in transactions compared to mid-January. <strong>BONK’s</strong> relative strength index is below 50, which could indicate a lack of buyer interest. However, the <strong>token</strong> could benefit from the loss in value of SHIB, which has significantly reduced whale activity. On Sunday, there were only ten transactions of $100,000 or more. SHIB inflows and outflows decreased by 97.1% and 95.53%, respectively.</p> 
<p style="text-align: justify">The token recorded a 33-fold increase between November and December of last year. According to <strong>CoinGecko’s</strong> data, BONK’s price rose from $0.000000754317 on November 15, 2023, to $0.00002549000 on December 15, 2023. This increase coincided with the rapid expansion of the Solana ecosystem following the FTX collapse. Currently, the total value locked in Solana is around $1.47 billion. <strong>SOL,</strong> the native token on the Solana blockchain, is trading at $96.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-308769 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/bonk-2.webp" alt="" width="850" height="245"></p> 
<h2 id="bonk-developments">BONK Developments</h2> 
<p style="text-align: justify">The BONK developer community has also strengthened its DeFi presence with integrations. The developers of BONKbot, a trading bot, ran a promotion giving away a BONK token for every SOL deposit. Recent on-chain data may indicate that SHIB whales are buying before it transforms into a full-fledged Web3 community.</p> 
<p style="text-align: justify">Whales caused a 3% drop overnight by purchasing 5% of the token supply in mid-January. On January 16, 2023, approximately 18 whales bought $56.5 million worth of Shiba Inu. Yesterday, 331 billion more SHIB were purchased in ten large transactions. These movements suggest that whales are concerned about the new Web3 orientation. Shytoshi Kusama, a public SHIB developer, stated that .shib-ending Web3 identities would initiate a blockchain-based Web3 economy on the Shiba Inu network.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bonk-tokens-performance-and-developments/" data-wpel-link="internal">BONK Token’s Performance and Developments</a></h5>

BONK Token’s Performance and Developments

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