5 Best Penny Cryptos Under $1 If Bonk Token Bull Run is Over
The bull run in Bonk!, the first Solana-based dog meme coin, may have run its course. BONK, a token issued on the Solana blockchain that was airdropped a few weeks ago for free to Solana investors across the ecosystem, is sliding rapidly on Friday.
According to DEX Tools, BONK/USD was last changing hands around $0.0000016 per token, having now shed around two-thirds of its value from the record highs it hit above $0.0000048 in early Thursday trade.
The rapid rise to fame of BONK has made big news in recent weeks, with some claiming the cryptocurrency has revitalized hope within the Solana crypto ecosystem. Trade has been spectacularly volatile in recent days as the cryptocurrency has been listed on more exchanges.
The team behind BONK recently announced that they would be burning 5 trillion tokens that had been allocated to them, in an effort to boost the price once again.
But the failure of BONK’s price to bounce suggests the market is more concerned about unwinding speculative excess in the coin than it is by token supply at present.
Investors looking to diversify their cryptocurrency portfolio within so-called “penny cryptos” may no longer be interested in Bonk!, with the bull run potentially now having run its course. Here is a list of alternative penny cryptos to consider which are still in the presale stage, which could also offer the possibility of rapid short-term games. The difference is that all of the cryptocurrencies in this list are backed by promising projects and excellent utility/use cases.
The young move-to-earn crypto niche has shown a lot of promise, but early success stories like STEPN have significant limitations that have, so far, prevented them from conquering the mainstream. FightOut, which touts
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