Bonk, Solana's Answer To Shiba Inu, Could See 60% More Downside, Warns Trader: 'It's Going To Be Nasty'
Portfolio Pulse from Khyathi Dalal
Crypto traders warn of significant downside for Bonk (CRYPTO: BONK), predicting a 60-70% drop from current levels. This could impact meme cryptocurrencies, with Bonk having recently outperformed Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB).
August 02, 2024 | 2:16 pm
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NEGATIVE IMPACT
Traders predict a 60-70% downside for Bonk, indicating potential severe losses for investors.
The prediction of a 60-70% drop in Bonk's value suggests significant downside risk, which could lead to severe losses for investors. This is highly relevant and important for those holding Bonk.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Bonk's predicted decline could impact other meme cryptocurrencies like Dogecoin, which has seen a 1% drop in the past 30 days.
Bonk's significant predicted decline could create negative sentiment around other meme cryptocurrencies, including Dogecoin, which has already seen a slight drop.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Floki, another meme cryptocurrency, could see further declines following Bonk's predicted drop, having already fallen 6.5% in the past 30 days.
Floki's recent 6.5% decline could be exacerbated by Bonk's predicted drop, indicating potential further downside for this meme cryptocurrency.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Shiba Inu could also be affected by Bonk's predicted decline, having already seen a 6% drop in the past 30 days.
The predicted decline in Bonk could negatively impact Shiba Inu, which has already experienced a 6% drop, indicating potential further downside.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50