BONK Loses 14% in 24 Hours But Mollars Presales Hits ATH Before June CEX Listings
The alt and memecoin market is having a busy week in the last days of May. While Solana’s most hyped memecoin BONK lost over 14% of its value in just 24 hours, investors are excited about a new project coming to the Ethereum Blockchain on June 1st.
According to CoinMarketCap , $BONK went down from $0.00003962 to $0.00003304 in a single trading day. Even more worrisome, despite the huge sellout, the memecoin’s daily trading volume also tanked by around $100,000,000.
This recent price tank erases Bonk Inu’s May 23 15% increase, ultimately leading to the memecoin breaking even on the weekly chart. Meanwhile, the blockchain’s most valuable memecoin by market capitalization—dogWifHat (WIF)—also saw a spike decrease in value over the last trading day.
WIF lost 8.47% of its value, while its daily trading volume also tanked by another 22%. While ultimately it was a red day for memecoins, Solana’s tokens stand out among the biggest losers of the top-10 joke-inspired currencies.
This movement signals an alert sign for SOL-based assets. Only two days ago, Aptos—the blockchain created by former Facebook developers—broke Solana’s record after recording 115.4 million transactions in a single day. Solana’s best performance was only 31.7 million, shedding light on the increasing competition and the challenges Solana faces in keeping up with newer, more efficient blockchains.
Meanwhile, a few cryptocurrencies are still thriving. As the general crypto market looked bearish on Thursday morning, a few coins have managed to avoid the red sea. Jasmycoin (JASMY), Ordi (ORDI), and Notcoin (NOT) grew in value today.
Also, a new token gearing up to debut on the Ethereum Blockchain on June 1st is having an impressive sales run. The sales
