In essence, the Bonk coin achieving a $1 value is impossible. With an enormous circulating supply of 74.9 trillion tokens, the market cap would surpass $74.9 trillion if the coin were to hit the $1 mark, making it an extremely unrealistic expectation.
As excitement around meme coins increases, numerous investors are curious if BONK might surge in value, possibly hitting $1 or maybe just 1 cent eventually. However, the simple truth is that this is not feasible.
In this article, we are going to explain why BONK cannot reach $1 and consult the algorithmically generated price prediction to see where the meme coin could be headed in the short to medium term.
Key highlights:
- The potential for appreciation of low-priced assets like Bonk coin should be judged by market cap rather than individual unit price.
- Bonk coin reaching a value of $1 is implausible, as it would require a market cap of $74.9 trillion.
- Despite impressive past gains, the current value of BONK at $0.0000361 makes a surge to $1 extremely unrealistic, requiring a 27,700x increase.
- Even at 1 cent per token, BONK would command a market cap of $749 billion, which is more than Ethereum and all cryptocurrencies other than Bitcoin.
- Short-term predictions are bullish for Bonk coin, anticipating a 398% rise to $0.00018, influenced by catalysts like the upcoming Bitcoin halving.
Will Bonk coin reach $1?
To say that Bonk cannot reach $1 is an understatement. The token has a circulating supply of 74.9 trillion, meaning that at $1 per coin, the project’s total market cap would stand at $74.9 trillion. For context, the GDP of all countries in the world combined is about $100 trillion, which hopefully demonstrates just how utterly unrealistic that scenario is.
Bonk Coin (BONK) – which was initially launched as a free airdrop to the Solana community on Christmas in 2022 – impressed investors with 1,230% gains over the past 12 months. The large price increase has made many investors hopeful and perhaps overly optimistic about its future growth potential.
Here’s the catch: BONK is currently trading at $0.0000361, meaning that it would have to increase 27,700x from its current price to reach $1 (which would entail a market cap of $74.9 trillion). There’s simply no way that enough money could pour into BONK to support such a market valuation.
Will Bonk coin reach 1 cent?
BONK achieving 1 cent is highly improbable but not theoretically impossible. At a price of $0.01, BONK would sport a market cap of about $749 billion, which would be about half of Bitcoin’s current market cap and roughly double Ethereum’s current market cap. At this point, expecting a meme coin to have double the market cap of Ethereum is probably nothing more than wishful thinking.
For a clearer perspective, refer to the table below, which outlines key price milestones for BONK and their respective market caps:
| Price | Market Cap | % Change From Current Price |
|---|---|---|
| $0.0000361* | $2,100,000,000 | 0.00% |
| $0.0001 | $7,490,000,000 | 177% |
| $0.001 | $74,900,000,000 | 2,670% |
| $0.01 | $749,000,000,000 | 27,600% |
| $0.1 | $7,490,000,000,000 | 276,908% |
| $1 | $74,900,000,000,000 | 2,769,983% |
*Price at the time of publication.
At its present circulating supply, you shouldn’t expect BONK to ever reach 1 cent, let alone $1. However, if the project were to employ a token burning program – similar to ones from Shiba Inu or BNB, for example – the equation would change completely. If enough BONK tokens were removed from circulation, the coin could reach much higher price milestones. In that case, the exact scope of a potential price increase would depend completely on the share of tokens that would be destroyed.
Bonk coin price prediction 2024 & 2025
While the $1 price target is unreachable, given the current tokenomics model, that doesn’t mean that BONK has no upside potential.
Our algorithmically generated BONK price prediction forecasts a very bullish short-term trend, with the coin gaining 434% and hitting $0.000193 before the end of 2024.
After the initial surge, the price of BONK could retrace to around $0.0000700 by the second half of 2025 before regaining momentum and settling around the $0.000100 mark 12 months from now.
The bottom line
Many novice investors believe that low-priced assets have a greater potential for appreciation compared to higher-priced ones. They observe meme coins valued at fractions of a cent and assume these have an easier path to gaining value compared to cryptocurrencies already priced at, say, $100. However, the actual price of an asset is not very indicative of its potential.
What should be considered instead is the market capitalization. For instance, if an asset with a $1 million market cap increased by 1,000x, it still wouldn’t make it into the top 100 cryptocurrencies by market cap. Conversely, a project like Bonk coin, which already boasts a market cap of around $1.9 billion, would reach $1.9 trillion if it were to grow by 1000x. For comparison, the total crypto market cap stands at $2.99 trillion at the moment, so you be the judge of how realistic a scenario that is.
If you want to read about other meme coins and their price potential, check out our other articles covering similar topics:
Source: https://coincodex.com/article/38938/will-bonk-coin-reach-1/