Meme coin Bonk (BONK) went on a strange journey at the end of 2023, experiencing several real price explosions, resulting in a 10,000% increase in the last 52 weeks.
However, it remains the weakest among meme currencies after being listed on Coinbase (NASDAQ: COIN), the largest publicly traded cryptocurrency exchange.
Launched on the Solana (SOL) blockchain, memecoin also benefited from the developments that saw SOL rise by over 800% in one year. Additionally, the recent surge in sales of the Solana Saga smartphone and the associated BONK airdrop has led to a recent increase in demand for meme coins.
Given the significant volatility and impressive but short-lived price increases, Finbold leverages CoinCodex’s predictive artificial intelligence (AI) algorithms to figure out where Bonk will be when the new year rolls around in just a few days.
AI BONK Forecast
According to data available on December 27, CoinCodex’s prediction algorithm predicts that Bonk will maintain a roughly stable price in the first few weeks of 2024 despite relatively high volatility.
On January 1, Bonk’s valuation fell 3.53% to $0.00001619. The algorithm also concludes that Meme Coin will continue trading next month and will reach $16.47 within 30 days. This is slightly higher than the price at the time of publication.
Bonk’s significant volatility is also highlighted by the fact that 16 of the last 30 days have been green days. Finally, the “Fear and Greed Index” solidifies the overall bullish trend for meme coins and the broader cryptocurrency market in 2023. The index, which tracks investor sentiment, puts Bonk in the “greedy” category.
