BONK has experienced a 10% growth in the last 24 hours, despite the overall market conditions being less than ideal. This impressive growth can be attributed to the agility of the BONK team in navigating the current market climate and their proposal for a significant token burn.
While popular meme coins like Pepe and Dogecoin are facing challenges, there are newer meme coins that still offer attractive buying opportunities, even in bearish conditions. Let’s delve into the reasons behind Bonk’s rise and explore three other tokens that have the potential for similar growth.
BONK’s price saw a resurgence in the early morning when the BONK treasury announced plans to burn 84 billion tokens. Despite the decline of coins like DOGE and SHIB, this proposal led to an immediate increase in market capitalization, reaching $1,640,663,484, and boosted the price of BONK to $0.00002391.
This strategic move by the BONK team aims to increase token scarcity and create deflationary pressure on the token’s value. Token burns are an effective method to achieve this as reducing the number of available tokens usually has a positive impact on holders.
The proposal to burn 84 billion tokens has ignited investor confidence, resulting in a 25% price jump for $BONK. If this proposal is approved, it could potentially drive the price even higher, breaking BONK’s all-time high of $0.00004704.
The announcement of the token burn has already led to a 169% growth in trading volume, indicating that BONK’s strategy has been successful. However, it is important to note that the proposal is still being voted on by the community and has not yet been approved.
Considering the BONK DAO’s previous burn of 278.39 trillion tokens, which was well received, it is highly likely that the current proposal to burn 84 billion tokens will be approved. Each token burn has been executed with impeccable timing, resulting in price growth. If the proposal is approved, we may witness BONK surpassing its previous all-time high.
Currently, Bonk has experienced an 8% increase in the last 24 hours, although it is still down by 9% on the monthly graph.
As major meme coins continue to exhibit daily volatility, many traders are turning their attention to newer, lower-cap tokens that offer more stable upward growth potential.
Now, let’s explore three meme coins that could experience growth in the near future.
PlayDoge (PLAY) is similar to BONK in leveraging the meme appeal of doges. However, PlayDoge goes beyond being just a meme coin by offering play-to-earn utility. The project is developing a retro game reminiscent of Tamagotchi, where players can feed and play with their doge while earning $PLAY tokens through mini-games. PlayDoge has already raised over $5.5 million in its ICO, with the token selling at $0.00517. The project’s tokenomics, which allocate 50% of the total 9.4 billion tokens to the ICO and reserve 12% for staking, have contributed to its success. Additionally, 6.5% of the tokens are reserved for community engagement and events. With the presale ending soon, investors are rushing to get involved in PlayDoge, and expert sentiment predicts significant returns.
Daddy Tate (DADDY) has seen a notable increase in value, growing by 20.91% in the last week to reach $0.1498 per coin. This surge can be attributed to the controversial figure Andrew Tate, who recently gained permission to travel across Europe. Tate has burned over $100 million worth of DADDY in June, attracting further attention to the coin. Daddy Tate intersects with PolitFi coins like MAGA and BODEN, as well as influencer-focused coins like MOTHER and JENNER, suggesting that there is room for it to surpass its all-time high of $0.24. With Tate’s knack for going viral and his travel ban lifted, this far-right influencer aims to spark a crypto revolution. While the exact details of his plans are unknown, they are expected to be announced during Tate’s DADDY stakers event. Investing in DADDY is not for the risk-averse due to its potential for controversy.
TURBO stands out in the meme coin space by pioneering the use of AI in its creation. As a fully community-owned token, TURBO incorporates a unique governance system. By combining community sentiment and AI analysis through an AI oracle and chatbot, TURBO makes informed decisions. Despite a 35% drop in the last 30 days, TURBO is embarking on various projects and initiatives. If the TURBO team executes their plans effectively, the coin could surpass its all-time high of $0.00974418, which it recently reached in May. Being at the intersection of the crypto meme coin hype and the TradFi AI rally, TURBO is one of the most volatile coins available. The coin boasts a strong community of 68,800 X (Twitter) followers actively participating in creating and sharing unique, AI-generated memes and ideas.
