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Dec 18, 2023
Analyst Pentoshi, who accurately predicted the 2021 Bitcoin peak, foresees a 50% drop for Solana-based memecoin BONK in the next four to six weeks.
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BONK experienced a staggering 1,278% surge from $0.00000217 to $0.00002991 since November 15th, prompting concerns of an impending correction.
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Crypto expert Michaël van de Poppe echoes caution, highlighting the unprecedented 200x surge in BONK during the early stages of the bull market.
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BONK gains popularity on social platforms, witnessing a 116% market cap increase within a day, fueled partly by its Coinbase listing.
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Coinbase listing propels BONK from the 69th to the 43rd largest asset in just 12 hours, intensifying concerns of FOMO-driven trading.
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Analysts draw parallels between BONK's current hype and the 2021 Dogecoin frenzy, suggesting a potential shift in market sentiment.
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As 2023 concludes, NFTs, BASE, and memecoins, particularly BONK, are expected to dominate market discussions, resembling the Dogecoin attention of 2021.
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