BONK has been one of the biggest stories in crypto the last few weeks, as the meme coin surged nearly 1,000% in a matter of weeks while the broader Solana ecosystem found new life. But meme coins are famously volatile, and BONK has plunged substantially since hitting a new all-time peak last week.

The dog-themed coin skyrocketed last week to a new high price of $0.00003416 on Friday, but has since fallen to a current price of $0.00001931, per data from CoinGecko—a nearly 44% drop in a matter of days. It’s only down about 1% over the past 24 hours after gradually sliding over the last few days.

Amazingly, the drop only erases about a day’s worth of gains for the Solana-based coin, as BONK hit this price last Thursday before blasting off further to new peaks. Even with this latest downturn, BONK is up 56% over the last seven days, and 502% in the past 30 days.

This isn’t the first time that BONK has seen an aggressive rise followed by a substantial dip. BONK launched this time last year and then saw a dramatic rise and fall in early January, albeit on a much smaller scale: The latest peak price is 10 times higher than the top price seen in January.

BONK still has a market cap of $1.17 billion, mak

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Author: Andrew Hayward

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