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One of the newest and hottest meme tokens is making waves in today’s market. Bonk (BONK-USD) is now the third-largest meme token by market capitalization, surging more than 50% in today’s session alone.
A portion of today’s rally in Bonk can certainly be ascribed to a surge across all risk assets, which is tied to a more dovish monetary policy stance taken by the Federal Reserve. At this week’s meeting, Fed officials noted that we’re likely at the peak of the hiking cycle. They are now trying to solve for when cuts will take place. That kind of language has led to a surge in most long-duration assets, with crypto seeing a nice rally as well.
Additionally, Bonk has a token-specific catalyst that’s driving most of its move today. The Solana (SOL-USD)-based meme token will be listed on Coinbase (NASDAQ:COIN), per an announcement on Tuesday. This announcement did not specify a specific date, but it appears this listing will take place today.
With that said, a range of Bonk price predictions are now proliferating in the market. Let’s dive into where this token could be headed from here.
Bonk Price Predictions
For context, BONK currently trades at $0.000017 per token at the time of writing.
- WalletInvestor believes BONK could be worth $0.00000162 in one year’s time.
- Gov Capital suggests that BONK could see continued momentum over the next two weeks but predicts this token will trend toward zero over time.
- Finally, DigitalCoinPrice provides one-year and five-year price targets of $0.0000420 and $0.0000891, respectively, for BONK.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
