Could BONK Flip SHIB for Bitcoin’s Final ATH This Metacycle?

Bonk price settled at 0.000049 on Monday after a 14-day rally to a new all-time high price handle of 0.000055. “Holy shit!” exclaimed Shawn.eth (Punk #4220), a Bonk investor on Monday X.

“My $BONK purse was $30,000 when I bought and now it’s $2,300,000,” wrote Shawn.eth.

“Bonk started the whole memecoin supercycle early last year,” PepeXBT said over the weekend, “Now he’s leading the pack at the $10 million level.”

A recent article that appeared on Forbes Advisor said, “While traditional investment experts often recommend staying away from meme coins, the popularity of these cryptocurrencies among crypto investors is undeniable.”

Could furry meme coin Solana slide up the chart to eclipse Shiba Inu’s market cap by 2025? Here are five bullish factors for Bonk and two bearish factors for Shiba Inu as the current market cycle turns:

1. Volume Rush a new price discovery window

Like many crypto assets, BONK entered a price discovery mode in November. Along with its base layer chain, Solana’s SOL tokens, daily trading volumes are increasing.

So many new entries into the Bonk markets, along with exuberant price increases, may indicate a strong uptrend for SHIB’s furry friend.

$BONK is entering price discovery mode, uncharted territory. Anything can happen from here.

Don’t underestimate retail FOMO.

My lines suggest we could see a 20x from here. pic.twitter.com/W2hgIWBJhQ

— Cool Dog (@Cool1Dog) November 16, 2024

“BONK is entering price discovery mode, uncharted territory,” Cool Dog posted on Saturday X, “Anything could happen from here.”

Trading volume for the 37th-ranked coin by market cap briefly surpassed that of market leader Bitcoin (BTC) on Coinbase. This is very optimistic for Bonk going forward.

2. BONK Price Deluge Flips WIF

The demand for Bonk tokens is increasing. The price of the meme coin rose 16% in a 24-hour surge on November 17, which ended with a surge on November 3 that pushed the coin’s value into whole new territory. It is now up 70% weekly.

Bonk’s new record high price of $0.000055 is well above the previous ATH in May at the $0.000041 handle.

Given that gains outpaced DOGE and SHIB, a report that appeared on Yahoo Finance Sunday alerted readers that altcoin traders are anticipating more explosive growth for Bonk.

Based on its technical market signals and upcoming supply cuts, altcoin investors see BONK as an undervalued meme coin after it hit its ATH price in November.

3. Burning supply as BONK burns $4 million

A new chip skimmer that burned $4 million of Bonk on Wednesday, November 13 may have helped the price rally so strongly over the weekend.

Lower supplies can often lead to higher prices in cryptocurrency markets if demand remains or grows. Fewer tokens with more altcoin traders fighting for them makes each token in the wallet more cherished.

The supply fire is not over yet. The official Bonk Community account of Bonk DAO at X announced on Friday that it aims to burn another 1 trillion tokens by Christmas.

BONK DAO BURNmas SUPER thread

The mission: burn 1 trillion $BONK for Christmas

The campaign includes BONK recordings based on specific participation criteria.

Here’s how you can help The Dog in what will be the largest community-driven burn event in Solana’s history pic.twitter.com/tcSY5W3vd9

-BONK!!! (@bonk_inu) November 15, 2024

4. BONK expert price predictions 15x, 20x

“$BONK is going to be one of the top memes this cycle,” cryptocurrency YouTuber DreamCryptoX wrote on Monday.

Bonk a X analysts are going strong for the Solana meme. After this month’s big rally, Bonk enthusiasts issued several exciting price predictions.

My conservative goal for $BONK is $30 million

That’s a neat 15x from here.

You don’t want to know my moon goal

— Zer0 ️ (@degengambleh) November 11, 2024

“Don’t underestimate retail FOMO. My lines suggest we could see 20x from here,” wrote Cool Dog Saturday. Self-proclaimed gambler Zer0 posted: “My conservative target for $BONK is $30,000. That’s a net 15 times from here.”

5. Binance US Listing

Check out our newest list, $BONKwith this week’s quick facts! pic.twitter.com/3e7xhAVofG

— Binance.US (@BinanceUS) November 13, 2024

Binance US announced on Wednesday that trading has gone live for BONK/USDT. The US crypto exchange platform also launched support for depositing and withdrawing Bonk on the Solana network.

“We are excited to announce that BONK is now listed on Binance.US,” the popular US crypto exchange said in an announcement on its website. “Now you can trade and deposit BONK on the best crypto platform for low fees and high rewards.”

$BONK today is like shopping $ Twelve returns in 2021

When we all expected to get it $ Twelve to a penny

It’s already on coinbase and it’s only on Robinhood for Europe users.

If we get the Robinhood list in the US for $Bonk people who buy now will be charged

— Easy Money (@Bitcoin_Teej) November 12, 2024

“$BONK today is like buying $Doge in 2021,” Easy Money Bitcoin Teej claimed in a post last Tuesday that “if we get US Robinhood listed for $Bonk, people buying now will be charged.”

6. BONK beats SHIB in November

Shiba In has a long way to go to regain its all-time high from 2021, so it has room and precedent to beat Bonk to the top of this market cycle. But he showed no signs of bullish momentum at this month’s election rally held by Bonk.

Market prices for the self-proclaimed killer Dogecoin fell in the seven days ending November 18, according to data from CoinMarketCap. Purse holders dropped Shiba, perhaps for other meme coins or more utility-based tokens, such as Hedera and Render.

7. SHIB Upside might be sold out

According to Grzegorz Drozdz, market analyst at Conotoxia, a Cyprus-based crypto exchange for European users, “Shiba Inu’s biggest disadvantage seems to be at the same time its biggest advantage: fashion and popularity.”

“There have been many similar designs since the Shiba Inu was created, which in turn reduces the potential for the Shiba Inu to become another seasonal favorite,” said Drozdz.

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