• Dapps: 16.23K
  • Blockchains: 78
  • Active users: 66.47M
  • 30d volume: $303.26B
  • 30d transactions: $879.24M

BONK's Growth: Bitcoin Profits Fuel Altcoins

by

3 hours ago

The Solana-based meme coin BONK has shown significant growth amid Bitcoin profit redistribution, providing new momentum to the altcoin market.

BONK Price Rise Amid Profit Redistribution

BONK's price increased by 8% in the last 24 hours, despite a correction leading to a 3.33% drop. However, weekly growth is at 20%, possibly due to Bitcoin profits being redirected to smaller altcoins.

Altcoin Behavior Analysis

As Bitcoin stabilized around $68,000, investors shifted focus to altcoins like BONK and Dogecoin. This growth is fueled by capital being redistributed to more speculative assets.

Speculative Interest and Potential Risks

According to Santiment, meme coins have seen increased attention. Speculative investor behavior supports price increases but could cause a correction if FOMO (fear of missing out) prevails, prompting profit-taking.

The rise of BONK and other meme coins amid Bitcoin profit redistribution emphasizes the role of speculation in the cryptocurrency market, yet maintaining the trend depends on keeping FOMO under control.

0

Share

Other news

Analysts Expect Bitcoin and Altcoins to Rise: Expert Insights

Analysts forecast a significant price rise for Bitcoin and altcoins due to shifting technical indicators.

10 minutes ago

Voce Sabia Launches $VS Token, Strengthening Celebrity Influence in Crypto

Brazilian content creator Voce Sabia launches $VS token on Solana, following the celebrity trend in Web3.

10 minutes ago

Hack on Ambient Finance's Website Leaves User Funds Unaffected

The Ambient Finance website was hacked but user funds remain secure.

11 minutes ago

Bitcoin and Rising Interest in Altcoins: What's Next?

Bitcoin may reach $70,000 supported by market data and predictions; increased interest in altcoins.

11 minutes ago

Injective (INJ) Price Surge to $52: Analyst's Prediction

Expert Winkle forecasts Injective (INJ) price to reach $52 amid Upbit integration.

13 minutes ago

Cardano and Solana invest in a new altcoin with growth potential

Cardano and Solana whales focus on DTX Exchange, a new altcoin with growth predictions of up to 50x.

14 minutes ago

dapp expert logo
© 2020. DappExpert. All rights reserved.
© 2020. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.