BONK Getting 'DOGE-Like' Attention From Traders, Report Says

Data aggregator Santiment has reported what crypto assets are likely to interest wide masses of cryptocurrency investors in the approaching year 2024. According to their report, BONK is leading the way here, and it has been attracting a great deal of attention from traders recently.

Bonk (BONK) is the first meme coin launched on the Solana blockchain, and many within the cryptocurrency community refer to it as a rival of Shiba Inu and Dogecoin canine tokens.

Over the past weeks, it has been attracting investors as the market remains insatiable with meme cryptocurrencies.

BONK to lead meme coins trend in 2024: Santiment

Santiment has tweeted that at the end of 2023, the cryptocurrency market is being driven by short-term and long-term time frame topics. The tweet published on Thursday evening stated that the Santiment team believes NFTs, BASE and various meme cryptocurrencies are very likely to continue attracting traders’ interest as we are shifting into 2024.

Besides, the tweet highlighted that at the moment, Solana-based meme coin Bonk is grabbing a lot of attention similarly to Dogecoin in 2021. Back in that year (the first one after the quarantines in the majority of countries were over), Dogecoin managed to reach a historic peak of $0.7376 on May 8.

🗣️📢 As 2023 winds down, these are the short term and long term timeframe topics that are driving markets. #NFT's, #BASE, and #memecoins will very likely continue to be a point of interest going into 2024, and $BONK is having "2021 $DOGE "-like attention. https://t.co/AZJdfL1oWF pic.twitter.com/mC9NDMWBkh

— Santiment (@santimentfeed) December 15, 2023

DOGE then was mostly propelled to the new all-time high thanks to Elon Musk’s massive endorsement on Twitter. As that year started, he not only first announced that Tesla started to accept Bitcoin and then stopped it, but he also called himself jokingly “DogeFather.” Musk also made a debut on Saturday Night Live Show in April, where he spoke about Dogecoin a lot, getting his message across about it to millions of TV viewers.

Bonk on rise

Bonk meme coin has been on a tear over the past two weeks since December started. During the first week of the month, Solana’s meme coin demonstrated a massive rise of 213%, jumping to a new all-time high. Over the month prior to that, the growth constituted a whopping 719% for BONK.

It surged to register another high on Dec. 15, when it hit the $0.00003419 price level. By now, the meme cryptocurrency is changing hands at $0.0000245, losing nearly 30% from the all-time high.