BONK has grown 10% over the past 24 hours despite the overall market being less than stellar. This is mainly due to the BONK team remaining agile in the current market conditions and proposing a massive token burn.
While the likes of Pepe and Dogecoin struggle, there are newer meme coins that still present viable buying opportunities despite somewhat bearish conditions.
Let’s take a look at what’s behind Bonk’s rise as well as three other tokens that could see similar growth.
BONK Proposes 84B Token Burn Rallying Price
Despite the likes of DOGE and SHIB still declining, BONK’s price saw a resurgence in the early morning with the BONK treasury revealing plans to burn 84 billion tokens. This led to an almost immediate growth in market capitalization to $1,640,663,484, and helped the price of BONK grow to $0.00002391.
This move is part of the BONK team’s initiative to increase token scarcity and apply deflationary pressure to the token’s value. Token burns are an excellent way to do this, as decreasing the number of available tokens almost always results in a net-positive effect for holders.
With a 169% growth in trading volume after the announcement, BONK’s strategy worked out. However, it is important to note that the proposal hasn’t been approved yet as the community is still voting on it.
The BONK DAO has been burn-friendly in the past, with a 278.39 trillion token burn behind them. Because of this, we can predict the current proposal to burn a much more reasonable 84 billion to be approved.
Overall, each token burn has been timed and executed brilliantly, leading to a growth in price. If the proposal is approved, we may see BONK break its all-time high of $0.00004704.
Currently, Bonk is up 8% in the last 24 hours, although it’s still down 9% in the monthly graph.
As major meme coins continue to see almost daily volatility swings, many traders are turning to new lower cap tokens that can present more stable upwards growth.
3 Meme Coins That Could Pump Next
Now let’s look at three meme coins that could see upward growth in the coming days and weeks.
PlayDoge (PLAY)
Similarly to BONK, PlayDoge takes advantage of the intrinsic meme appeal of doges. However, far from being just a meme coin, PlayDoge also has P2E utility.
The project is building a Tamagotchi-style retro game, in which the gameplay consists of feeding and playing with your doge, as well as playing mini-games to earn $PLAY tokens.
PlayDoge has already raised over $5.5 million in its ICO, selling for $0.00517 per token. Part of its success comes from the project’s brilliant tokenomics. 50% of the total 9.4 billion tokens are reserved for the ICO, with another 12% relegated to staking. We’re also impressed with 6.5% of the tokens reserved for community engagement and events.
With less than 2 days remaining in the presale, investors are scrambling to get a piece of PlayDoge. Expert sentiment is extremely bullish on the coin, with the likes of 99Bitcoins predicting 10x returns or more.
Daddy Tate (DADDY)
With controversial figure Andrew Tate recently allowed to travel across Europe, his affiliated coin- Daddy Tate was bound to go up. And go up it did, growing over 20.91% over the last week to $0.1498 per coin.
Tate has also publicly burned over $100 million worth of DADDY in June, attracting even more attention to the coin. With Daddy Tate sitting at the intersection of PolitFi coins like MAGA and BODEN and influencer-focused coins like MOTHER and JENNER, there’s room to go over its all-time high of $0.24.
With Tate’s talent for virality and his travel ban lifted, the far-right influencer aims to create a crypto revolution. The exact details of these plans are unknown at the moment, however, they are likely to be announced during Tate’s DADDY stakers event.
With plans for massive utility, and one of the world’s most controversial figures at its face, DADDY is not an investment for the risk-averse.
TURBO (TURBO)
TURBO is pioneering the use of AI in meme coin creation. As a fully community-owned token, this frot-themed meme coin has a unique take on governance. With an AI oracle and chatbot for guidance, TURBO combines community sentiment and AI analysis to make decisions.
Although the coin has dropped over 35% in the last 30 days, it’s setting up a lot of projects and initiatives. If the team behind TURBO plays its cards well, we could see it go from its current price of $0.003973 past its all-time high of $0.00974418. A price it hit somewhat recently in May.
Being at the intersection of the crypto meme coin hype and the TradFi AI rally makes TURBO one of the most volatile coins out there. The coin has a strong community of 68,800 X (Twitter) followers participating in creating and sharing unique, AI-generated memes and ideas.
