Are you itching to get ahead on the next meme coin rally before it happens – instead of reading about it in the Wall Street Journal? If so, BONK Coin could very well be the opportunity that you’re looking for. In this article, I’ll discuss the rise of meme trading, the current BONK Coin price, and why you might want to explore BONK Coin more.

What is Meme Trading?

As investors, we’ve entered uncharted territory when it comes to asset prices and valuations. A decade ago, the thought of an asset surging 1,000% or more in a few days was insanity. That’s because stock prices were tied closely to a company’s valuation – which fluctuated slowly over time as the company released new sales data and information. But, that’s no longer true for some stocks and most cryptocurrencies.

In today’s world, both stocks and cryptocurrencies can experience massive price swings based on nothing more than a tweet. This has created a concept called “meme trading” where investors try to anticipate massive rallies in stocks or cryptocurrencies in hopes of scoring big gains. 

Investment Disclaimer

I’m not a financial advisor, so I won’t tell you what to do with your money. But, I’d strongly recommend treating meme trading as one step up from gambling. Traditional investing is a calculated bet that an asset will increase in value over time. Gambling is a totally random game of chance. Meme trading is somewhere in between.

Meme trading isn’t a complete gamble, since you can try to anticipate rallies in certain coins and front run them. You also usually won’t lose your entire investment (although you might lose a lot of it). However, meme trading is much riskier than normal investing since these assets are not tied to legitimate assets. I’d recommend only allocating a small percentage of your portfolio to meme trading. Make sure you’re only investing money that you can afford to lose. Fortunately, even a small bet on a meme trade can pay off big time.

If you’re new to meme trading then remember this: any asset that can rise 1,000% in a day can also fall 1,000% in a day. Now, with that out of the way, let’s discuss the current BONK Coin price.

BONK Coin Price: The Next DogeCoin?

According to Coinbase, Bonk Coin’s price has surged over 5,000% over the past year. But, it still trades at just a fraction of a cent. This means that you can buy plenty of BONK coin with just a little bit of capital.

If you’re not familiar, BONK trades on the Solana blockchain and was originally airdropped to members on Christmas Day in December 2022. The coin describes itself as a “dog coin of the people” – whatever that means. Like its predecessors DogeCoin and Shiba Inu coin, BONK also uses a Shiba Inu as its mascot.

Coinbase claims that BONK coin is the most-held dog-themed cryptocurrency on Solana’s blockchain. Additionally, according to BONK’s website, it is the most traded token on Solana apart from SOL and USDC.

Here are a few other BONK Coin facts:

  1. Commonly available: You can buy BONK on most major crypto exchanges
  2. 129 integrations: BONK coin is integrated across 129 different platforms (exchanges, gaming, NFTs, wallet, etc)
  3. 690,000 holders: BONK coin currently has 690k holders.

Is BONK COIN Price Going to Surge?

Trying to anticipate a surge in BONK Coin price will be tricky. But, it’s not impossible. Here are a few things to keep an eye on when trying to anticipate a surge in price:

  1. Getting picked up on new exchanges: BONK Coin surged recently after getting listed on the South Korean exchange, Bithumb. In general, getting listed on a new exchange causes a cryptocurrency to surge because more people will be able to buy it. Now, whether or not more people actually buy it remains to be seen. But, getting listed on a new exchange creates the possibility that more people could buy it – which is all it takes to spark a rally. Since BONK already trades on most platforms, I wouldn’t really use this to try and anticipate a rally.
  2. Virality: This is by far the most important thing to stay on top of. If BONK coin starts to go viral then it’s a sign that a price surge could be right around the corner. Right now, BONK has just under 300,000 followers on X (formerly Twitter). This is a sizable following, and one of its notable followers is the Wall Street Bets main account. This is a good sign that BONK could continue to gain traction – especially if the WSB crowd starts talking about it. BONK has a modest following on Instagram and almost no followers on TikTok. But, Twitter is really the starting point for most of the action anyway – as Twitter has the strongest finance community of all social platforms. If you see BONK coin interacting with major social media personalities then it could be a sign to start piling in.
  3. New outlets: I go back and forth on this one. Usually, if you see a stock or crypto mentioned in a major news publication then it means you’ve already missed the rally. But, if you see small crypto-centric publications talking about BONK then you could still be ahead of the curve. It all depends which news outlets mention BONK and what they’re saying.

So, how should you try and front-run any increase in BONK Coin price?

In all honesty, it’s not a terrible idea to just invest as much money as you’re comfortable losing and then wait. Again, this isn’t traditional investing where you want to try and get the best entry point possible when buying an asset. This is meme coin trading. It doesn’t really matter if you buy in at $.000024 or $.00003 because you’re hoping for a 1,000% change in price anyway. Simply buying and HODLing BONK is a surefire way to ensure that you don’t miss a rally. 

That said, you can also be a bit more strategic when buying BONK coin by following this strategy:

  1. Follow BONK Coin on all major social platforms
  2. Set up social alerts and news alerts for BONK coin
  3. Stay up-to-date on these alerts daily, if not hourly

The main goal is just to stay as up-to-date as possible on BONK coin. That way, you’ll know right away if BONK coin shows the early signs of virality. For example, if Elon Musk tweets that you’ll soon be able to buy a Tesla (NASDAQ: TSLA) using BONK coin then you’ll be one of the first to know – and can buy in accordingly..

I hope that you’ve found this article valuable when it comes to learning about BONK Coin price and a few ways that you can front-run any movement in the price. If you’re interested in learning more then please subscribe below to get alerted of new articles as I write them.

Disclaimer: This article is for general informational and educational purposes only. It should not be construed as financial advice as the author, Ted Stavetski, is not a financial advisor.