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Solana-based meme coins experienced a remarkable surge in 2024, including Bonk, which has had mixed performance recently. While bullish momentum appears to be waning, the coin’s overall 6600% rise year-to-date indicates a solid growth trend.
Bonk, the initial dog-themed token on the Solana blockchain, boasts a market cap surpassing $1.5 billion. This article will delve into $BONK’s price prediction and recent developments to determine if it remains one of the best cryptos to buy now.
BonkDAO Proposes Major Token Burn and Partnership with Manta Network
BonkDAO has initiated a community vote on a token burn proposal, which, if approved, will eliminate nearly 84 billion $BONK from its treasury. This represents all the tokens BonkDAO earned from its revenue-sharing agreement with BONKBot in Q2.
To foster community participation, BonkDAO has stated that any Bonk holder can vote, provided they deposit their tokens during the six-day voting period. Deposited Bonk can be withdrawn once the vote concludes. A successful vote for the burn could significantly impact the $BONK price.
In addition, BonkDAO has announced a significant partnership with Manta Network. This collaboration is designed to enhance community engagement through various activities and offer new opportunities for $BONK holders.
The Dog 🤝 @MantaNetwork
Users who have Locked over 1M $BONK in BONKrewards by 7:25pm EST on 7/11 have the opportunity to earn 1M $MANTA in rewards over the next month with various BONK community activities❗️❗️❗️ pic.twitter.com/81ognfvOYm
— BONK!!! (@bonk_inu) July 12, 2024
In a recent announcement, Bonk revealed that users locking over 1 million $BONK in BONKrewards by 7:25pm EST on July 11 would be eligible to earn part of 1 million MANTA tokens over the next month.
This initiative aims to boost participation in upcoming ecological projects. Bonk also plans to host pop-up events with different projects within the ecosystem, offering additional MANTA token incentives. This strategy is expected to reward dedicated holders and attract new members to the Bonk community.
$BONK Crypto Price Prediction
As of today, July 13th, Bonk is priced at $0.0000227 with a 24-hour trading volume of $168.29 million. The $BONK price has increased by 1.53% in the last 24 hours. This modest uptick occurs despite a 38.90% decline in trading volumes at the time of writing.
However, analysts remain optimistic about a rebound, as Bonk consistently relies on trendline support to increase in value. A successful breakout above the $0.000026 level could see $BONK aiming for $0.000030. Bonk’s 14-day relative strength index (RSI) stands at 47.12, indicating a neutral position for Bonk.
For a comprehensive Bonk crypto price prediction analysis, view the video above and subscribe to Jacob Crypto Bury’s YouTube channel for more crypto-related content. Jacob also runs a Discord channel with 26,000 members, providing trading tips and insights into upcoming crypto presales.
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