Bonk (BONK), Solana‘s meme coin, experienced an incredible price movement in the final months of 2023, witnessing multiple price surges that paved the way for a 10,000% increase in value over the last 52 weeks. Despite this, it continues to lag behind other cryptocurrencies, even after surpassing Dogecoin (DOGE) in trading volume on Coinbase (NASDAQ: COIN) for a time.
The meme coin, launched on the Solana (SOL) blockchain, benefited from the hype created by SOL’s 800% rise in the past year. Additionally, the recent sales boom of the Solana Saga smartphone and the subsequent BONK airdrops contributed to an increase in demand for the coin.
As everyone wonders about BONK’s future direction, CoinCodex’s artificial intelligence (AI) algorithms have made predictions amidst the New Year’s excitement, suggesting that despite significant fluctuations, Bonk is expected to maintain a relatively stable price level at the beginning of 2024.
AI predicts that Bonk will experience a 3.53% decrease by January 1, trading at $0.00001619. The algorithm also suggests that the meme coin will continue to trade at a similar level over the next month, with an expected price of $0.00001647 within 30 days, slightly above its price at the time of writing. Notably, Bonk has had 16 “green” days in the last 30 days, indicating significant price changes.
2023 has been an incredible year for Bonk, with a modest rise at the beginning of the year followed by a period of stagnation before an amazing surge in late October. This rally, which has seen a 13,000% increase from its price 52 weeks ago, was supported by high levels of fluctuation.
A closer look at recent price performance shows significant volatility, with Bonk’s price increasing by 305.04% over the last 30 days. However, the meme coin’s price has fallen by 28% in the past week, with a 16.69% decrease in the last 24 hours alone, trading at $0.00001535 at the time of writing.