Kyle Chassé, known for his deep knowledge of the digital currency space, emphasized the critical role of meme coins in attracting newcomers to the cryptocurrency sector.
Crypto veteran Kyle Chassé shared his thoughts on the evolving meme-inspired cryptocurrency landscape. Chassé compared the current enthusiasm around meme coins to past frenzies, such as those involving Dogecoin (DOGE), Shiba Inu (SHIB), and the previous Pepe (PEPE) phenomenon.
He highlighted that these events are instrumental in leveraging meme-centric tactics to promote broader cryptocurrency adoption.
The conversation then turned to BONK, a meme-themed cryptocurrency developed on the Solana blockchain. Amid a broader market downturn, BONK has made waves with its extraordinary growth, recording an increase of over 703.97% in the last 30 days and a staggering 13,623.88% increase in 90 days.
This surge has propelled BONK to 50th place among the most well-known cryptocurrency projects.
BONK Prediction 2024
Chassé made a bold statement about the future of BONK, predicting that “memes are leading adoption in this cycle and bringing standards to the crypto space. “i think bonk will change to Shiba Inu.”
He highlighted a strategic move by BONK, involving an airdrop of 30 million BONK tokens that can only be accessed through the Bonk app via the Saga phone app store. This move created a significant arbitrage opportunity, as the value of the airdrop exceeded the cost of the Saga phone itself.
BONK is listed on leading exchanges such as Binance and Coinbase, enhancing its visibility and prominence in the cryptocurrency market. Investors have seen substantial returns, with one prominent investor posting a profit of $784,000.
BONK’s recent trading volume has surpassed that of Shiba Inu and Dogecoin, securing it the 44th place in market capitalization.
A Look at BONK’s Journey
BONK has shown remarkable performance over the past month as its price rose over 600%. Thanks to the rally, BONK earned a spot on the list of top 100 cryptocurrencies by market capitalization. However, things have now started to change as the token lost its value by double digits in the last 24 hours alone. The price action of the new meme coin remained irrelevant for a long period of time before taking off in early December.
According to CoinMarketCap, the meme coin is down more than 20% in the last 24 hours. It was trading at $0.00002415 with a market capitalization of over $1.47 billion, making it the 51st largest cryptocurrency. Lookonchain data pointed out what could have gone wrong. One trader sold 52.3 billion BONK, worth $927,000, shortly after it was listed on Binance.
Although the price of the meme coin dropped, it helped Solana reach a new milestone. Solana announced that 30 million BONK tokens will be available to saga phone owners. This triggered demand for the mobile, and Solana recently revealed that it sold all of its Saga units.
Solana Weighs Demand for Saga Phones After Sale Amid BONK Boom
This week, Solana Labs says sales have skyrocketed. A Solana Labs representative confirmed to Decrypt that 20,000 Saga phones were once produced, confirming a statistic that co-founder Raj Gokal shared on Twitter on Thursday.
Anyone who purchased Solana Saga can claim an airdrop of 30 million BONK meme tokens, whose value has increased dramatically in recent weeks: 755% more than last month. That stash is now valued at $830, or more than the phone’s current price. It’s not guaranteed to maintain that level, but crypto users are taking the plunge on Saga.
By Leonardo Perez
