BONK Drops 60% from its ATH Level – Further Price Drops May be Coming

BONK reached its all-time high during the opening hours of November 20th, 2024, reaching $0.000061. This was followed by a massive sell-off of BONK tokens

Bonk, the fourth largest meme coin by market capitalization, has seen its price drop by 60% since reaching an all-time high on November 20th, 2024. The recent reason for this decline is the deterioration of market conditions due to the Federal Reserve canceling the 2025 rate cuts.

But as we get closer to the new year, will the BONK price find its footing in 2025?

BONK Drops 60% from its ATH Level – Further Price Drops May be Coming

Reaching an all-time high during the opening hours of November 20th, 2024, BONK hit $0.000061. This was followed by a massive sell-off of BONK tokens, leading to consecutive red candles and pushing down the Bonk price by 60%.

BONK is currently trading around the $0.000026 level, and its market capitalization is around $1.9 billion.

BONK Price Analysis – What is the Reason Behind Bonk’s Price Action?

There is only a singular factor responsible for the BONK price slipping from its all-time high, and that’s Bitcoin price action. Following the Federal Reserve’s declaration that there are no plans for rate cuts in 2025, the BTC price lost its $100k support. The crash has been fierce, with the Bitcoin price now looming over the $93k mark. While there has been a recent announcement about the Securities and Exchange Commission approving Bitcoin ETFs for Hashdex and Franklin Templeton, it has done little to inspire faith in BTC again.

This has resulted in the entire meme coin market losing its market capitalization from above $120 billion to below $100 billion.

BONK, being a high-cap meme coin ranking fourth among the top meme coins, has been immensely affected. With the token’s RSI closer to entering the oversold zone, however, there are hopes that the token will bounce back. But whether it will be able to reclaim its recent highs remains a major question.

BONK Price Prediction – 2025 and Beyond

Bonk Short Term Price Prediction (2025)

Bonk may be able to gain some ground in the first quarter of 2025, fueled by expectations around the expanding market as the new year begins. This hope may attract more attention to the project. As a result, we may see a minor rally around Bonk, especially in the second half of January 2025, when President-elect Donald Trump will be sworn in as the 47th president of the United States.

This resultant rally could allow BONK to reclaim its all-time high value. However, like before, it will likely be followed by a drop.

There is a possibility that BONK will follow a similar pattern, trading around the $0.000027 level by the end of Q1 2025. The project’s price action later on will depend on the market dynamics at that time. It is possible that by the end of 2025, the Bonk price will be around $0.00008.

Bonk Long Term Price Prediction

Bonk has been following a rising channel pattern since its launch. Therefore, it is possible for it to reach even greater heights beyond 2025 if the same pattern continues to hold up until 2026. However, whether this pattern persists will depend on whether Bonk remains active on social media and continues to develop other use cases.

Given these factors, it is possible that BONK will peak around the $0.0001 level in 2026, with potential lows around the $0.000038 level.

Solaxy – High Potential Solana-Themed Crypto

While BONK has managed to maintain its place at the top of the price charts thanks to its social media posts and a handful of use cases, the latter leaves much to be desired. Furthermore, it is primarily banking on the Solana meta-narrative to gain traction. Therefore, investors should also consider other cryptocurrencies that can help strengthen the Solana blockchain. Solaxy is one such project.

Advertised in the official whitepaper as a Layer 2 solution for the Solana blockchain, Solaxy aims to address the low scalability issues of the Solana blockchain. The project intends to use rollup architecture for batch processing, unburdening the original Solana blockchain so that investors have access to a faster and more scalable chain.

Although the token has a utility-centric appeal, it has continued to engross the community through memes through its Tweets.

Despite arriving on presale just a few days ago, Solaxy has already raised upwards of $3.5 million. The pace of this presale has been noted by several crypto analysts, including