Solana’s new memecoin, Bonk, is gaining significant attention throughout the DeFi market. Its value has increased by 215% in December, and now, Binance, the world's largest cryptocurrency exchange, announced it will soon list Bonk. However, with Bonk down 18% over the last week, investors are switching to alternative investments such as THORChain and Meme Moguls.
Bonk Is Up 215% In December
After its initial release in January 2023, most people thought Bonk was another failed Memecoin. However, the project experienced significant rallies in Q4, and now Bonk is up by 12605% since it first launched. Over the last month alone Bonk's value has increased by 185%, overtaking competitors such as Pepe to become the 85th largest cryptocurrency by market cap.
However, Bonk's growth has slowed going into 2024. Over the last week, Bonk’s value has fallen by 18.4% and its daily trading volume fell below $100 million. Some experts believe that Bonk could be following Pepe’s decline, though experts remain confident in the memecoins growth.
With Binance recently announcing Bonk’s listing, the memecoin will soon be more accessible than ever, which is expected to further drive up Bonk's value.
Will Meme Moguls Outperform Bonk?
Although Bonk continues to attract new investors, it lacks one key necessity: utility. The project is built around hype and once the hype declines, so will Bonk's value. Meme Moguls on the other hand offers great utility and a fantastic new memecoin opportunity.
As the world's first meme stock market, Meme Moguls is expected to become a big hit in 2024. With the Meme Moguls marketplace, investors will be able to buy, trade and sell memes instead of stocks. Memes will increase and decrease in value, allowing investors to build profitable portfolios based on the memes they like.
Gamers within the Meme Moguls ecosystem will be ranked on their performance, and the top 20 performing Moguls will earn a share of a prize pool each month. But that’s not the only opportunity to earn.
Players will be able to compete in one-on-one tournaments, winner-takes-all events, and more to win real cash prizes. These prizes, alongside a thriving community, are expected to make Meme Moguls one of the biggest hits of 2024.
To get involved with Meme Moguls, and be in for a chance to win $10,000 after each presale stage, investors can purchase $MGLS tokens during stage four of the Meme Moguls presale. However, with less than 5% of the round's supply remaining, tokens are expected to increase in value before the end of the week.
Investors Choose THORChain Over Bitcoin
While most headlines focused on Bonk in 2023, THORChain has made significant developments throughout its ecosystem. This triggered a 315% increase in THORChains value and now the project is expected to surge in 2024.
In November, THORChain announced that investors using EdgeWallet will be able to hold RUNE tokens in a self-custodial wallet. This was a huge success for the THORChain community, as holders now have full control of their assets.
Following this development, THORChain announced several new partnerships with high-profile DeFi projects. These included SushiSwap, Chainlink and ApeSwap, all of which are expected to help drive up THORChains value.
At the time of writing THORChain was trading at $4.49 and had a daily trading volume of $392 million. Bullish experts predict that THORChain will increase to $7.55 in Q1, which has further increased THORChain's popularity.
Given its potential, THORChain could offer great returns, though experts believe that Meme Moguls will become one of the market's top-performing assets by the end of the year.