Bonk 2.0 (BONK2.0) has been the talk of the meme coin space this week, with the token up over 20% in the past 24 hours alone.
With speculative demand coming back to the market, many traders are looking for the next explosive asset – and some are turning their attention to Dogecoin20 (DOGE20) due to its early presale success.
Bonk 2.0 Mania Sweeps the Solana Meme Coin Market
Bonk 2.0 has exploded onto the Solana meme coin scene this week.
Launched on the Raydium DEX on Monday, BONK2.0 actually saw a 56% plunge in its first 24 hours of trading.
But the meme token quickly flipped the script, launching a 166% rally to hit an all-time high of $0.000000130 by Tuesday evening.
Volatility has remained the name of the game for Bonk 2.0, with the token then experiencing another sharp selloff before rebounding strongly again today.
The token is currently changing hands at $0.0000000396 – up 20% since yesterday.
Despite its wild price swings, BONK2.0 has clearly captured traders’ attention.
It boasts 7,700 holders and a $3 million market cap, with 78% of its total supply already in circulation.
Additionally, BONK2.0 has yet to be listed on any Tier-1 CEXs, so further upside could be on the cards if it secures high-profile listings.
What is Bonk 2.0 & Why the Hype?
So what exactly is Bonk 2.0, and why are traders piling in?
Put simply, Bonk 2.0 is a meme coin looking to capture the same viral energy that propelled the original Bonk (BONK) token to immense popularity on Solana late last year.
Branding itself as a “second chance” for investors, BONK2.0 seeks to become the go-to community coin for meme lovers.
Its tokenomics are standard fare – a massive total supply, zero taxes, and full renouncement of the contract.
However, BONK2.0’s roadmap extends beyond just hype.
The anonymous team is thinking big – their roadmap outlines plans for multi-chain integrations, DeFi offerings, gaming, NFTs, and even a dedicated crypto wallet in the future.
With a slick website and aggressive social media marketing already underway, BONK2.0 is hoping to capitalize on the current popularity of meme coins.
It remains to be seen whether it can do so long-term, but the token is clearly off to an eye-catching start.
Dogecoin20 Also Heating Up as Limited-Time Presale Raises $3.7m
Some traders are also looking ahead to the next potential viral token, and Dogecoin20 has emerged as a popular option.
Like Bonk2.0, Dogecoin20 is looking to ride the wave of an established meme coin success story, in this case, Dogecoin (DOGE) itself.
However, Dogecoin20 will provide more sustainable utility through its core feature – staking rewards powered by Ethereum smart contracts.
At the time of writing, DOGE20 holders can stake their tokens and earn APYs of 235%.
The project has turned heads already, raising over $3.7 million from investors looking to get early exposure.
DOGE20 tokens are available for just $0.000202 during the presale, though that entry point won’t last long, with the next price rise slated for just two days from now.
Once the presale concludes, DOGE20 is lined up for a launch on leading DEX Uniswap.
Crucially, the team has already allocated 10% of the token’s total supply to provide liquidity from day one.
The hype around this launch seems to be building rapidly.
In just one week, the official Dogecoin20 Twitter page has amassed nearly 2,000 followers eagerly awaiting the token’s Uniswap debut.
While new meme coins are inherently volatile and difficult to predict, DOGE20 certainly appears to have the ingredients for an explosive price pump once it hits the open market.
With YouTubers like Austin Hilton also shouting out the project to his massive following, DOGE20 could be poised to follow in the footsteps of other crypto success stories.
