Meme coin caused Solana price to rise by 40% in a week

[krishnaverma]

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

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[mich]

We are in a 'bear market' for which all coins are not showing signs of profit then comes this meme coin Bonk and it is going bonkers. It has marketcap of $227 million and up 3,700% in the last 7 days.
This can not last a lot of people will regret going into this 'get rich quick' memecoin. It is called 'The first Solana Dog Coin for the people and by the people' but we have seen this before with memecoins that go on to lose value and fast.

[cryptoaddictchie]

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

Any kind of gain through their network is their win. Yes they release an airdrop and we all knew how it will excite the community and solana could gain some positive on that thinking that there will be more free money on that side. Yes bonk gauranteed profit for airdroppers and some are gonna get rekt with the hype. They are still holding on in the midst of a bear market situation.

[adzino]

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

At least more people will be interested and know about Solana because of the hype of the meme coin. But it is not always good. People will invest in Solana, the hype of the meme coin dies, the price of Solana starts to drop, newbies make huge loss and they will end up calling the whole crypto market a scam. Same goes for investing in that meme coin. And it's more weird that a meme coin is causing the price of Solana to go up. Wouldn't that affect the reputation of Solana negatively?

[bittraffic]

The bull run year is too far yet one would have to be very careful in getting into meme like this, especially in SOL which is almost abandoned by investors. If you get in with this game, make sure you are ready to sell even if it doesn't hit yet the ATH base on RSI because it will take a nose dive.

Memecoins are in every platform but there are memecoins that didn't really make noise despite their huge leap. But BONK of SOL is pretty much hyped to make a crowd hype.

[qzl9899]

According to the tracking, bonk is most likely from a Chinese team. They have created a number of ups and downs before, which have wiped out the wealth of many people. Bonk is not a decentralized meme, but a highly controlled fraud. Please be careful.

[JeromeTash]

Good thing is you know that it's all hype and hype isn't something that's long-lasting. Whether it's good for Solana or not does not really matter because we are still in a bear market. I sense some sort of pump and dump scheme going on and members who FOMO out to be very careful with this or else the pumpers and dumpers will profit from you leaving you holding bags of shitcoins.

[krishnaverma]

According to the tracking, bonk is most likely from a Chinese team. They have created a number of ups and downs before, which have wiped out the wealth of many people. Bonk is not a decentralized meme, but a highly controlled fraud. Please be careful.

It is obvious that those who are investing now in this meme coin will be in loss as price is already too much pumped up.

[yazher]

Of course, it's a good thing and they hope this will constantly be the scenario in their market because undoubtedly it will gonna be the reason to multiply their investors. Actually, this is good news for all of us because since the bearish market has occurred, we rarely see news such as this one, and others always negative that affect the crypto market negatively. We hope to see more positive progress in the future because we really need to move on against this bearish trend to keep out from critics because whenever the market is not looking good, they are there to spread lies against the crypto community.

[hugeblack]

MemeCoin cannot do that, as some speculators may have found it an opportunity to invest, especially with the closing of trading and weak liquidity during the holidays.
In general, it is not a good hypothesis for a currency that you want to invest in in the long term, as there are many doubts about the centrality of Solana, so if you were invested in it before, withdraw your profits and leave the rest for a short-term investment.

[hyudien]

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

We just need to take a chance at the beginning and not fall for it when the hype has peaked. the benefits of buying meme coins are indeed quite tempting with fantastic increases. Some of my relatives bought them and indeed at this point, they have taken advantage of them early before disposal occurs. The meme coin itself is identical to the hype which is futures so it won't be profitable forever even if it can be thrown away at any time so it has no value in the market. It's a double-edged sword, as it's advantageous for early buyers and those exposed to the hype should be wary of disposal at short notice. Hype is still hype or indeed this is more of a coin meme gambling that has happened a lot everywhere. In the end, nothing lasts.

[hd49728]

Solana rose a lot in a past bull market with support from FTX, Alameda Research which are all dead now after FTX fiasco.

Without big backers like FTX and Alameda Research, Solana won't be able to reclaim $200 all time high. Solana blockchain has technical problems that caused a lot of issues on its network and lot of inconvenience for users. At some points, Solana blockchain even stopped working that is not a good history.

The hype of meme tokens on Solana blockchain caused $SOL price to rise a lot. It's a good chance for $SOL holders to cut loss in my opinion.

[blockman]

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

Not gonna say anything about solana but those that are investing in Bonk and think that it's not going to fall anytime. Well, honestly this is the time that you should be worried if this is the time you want to get in.
It's likely that the peak has been reached and the fall will start to happen anytime soon. We're done with meme coins or should I say not yet and they're building it up on the different networks so that it's going to be sort of something new for most investors.
But this isn't the way for me to invest, I'm avoiding most of these meme coins and the hype that it creates.

[rozak]

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

not surprising. but that's exactly what happened to Solana from the start. they take advantage of the hype that occurs in their network. developing several projects from the Solana network which suddenly became very expensive. this happened in the past. but now the much talked about meme coin seems to be moving the Solana price. however, we already saw how Solana took off last year. I don't know what to do, maybe this year they will be better, or just for a moment.

[Fesatmas]

Once again we're looking at a new meme coin and it's taking Solana a step up. Actually this is an opportunity for them to attract big investors again, I mean they can take advantage of the meme coin hype on the Solana network to introduce the innovations they will run. But if they don't take this as an opportunity, I think in the future we will see the same ending (once this meme coin is less hype) they will be left again.

[AnonBitCoiner]

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

Yes this meme coin has super recharged Solona coin and now many Meme coins has been launched and giving free Airdrops to Solona Users. Solona coin was dying day by day and after Bonk coin launch and Airdrop to NFt holder  Solona price back to 13$. Now it's looking so positive and we can see very soon 29$ in upcoming days if trend continues.

[o48o]

Good thing is you know that it's all hype and hype isn't something that's long-lasting. Whether it's good for Solana or not does not really matter because we are still in a bear market. I sense some sort of pump and dump scheme going on and members who FOMO out to be very careful with this or else the pumpers and dumpers will profit from you leaving you holding bags of shitcoins.

Tell that to Shiba Inu with a marketcap still worth 4.6 BILLION dollars. And how do you know if this is just a short or long term hype? There has been many cases when some altcoins have rised during the overall bear market. And BONK is just few days old. It's given free to active solana NFT projects, which i love as fair distribution.

Sure, rising 4000% in one week raises eyebrows but there can be many things that justify it.

Only thing i hate about this is their logo forced to look like generic 3d plastic blob made by cheapest artist ever.

[naira]

Once again we're looking at a new meme coin and it's taking Solana a step up. Actually this is an opportunity for them to attract big investors again, I mean they can take advantage of the meme coin hype on the Solana network to introduce the innovations they will run. But if they don't take this as an opportunity, I think in the future we will see the same ending (once this meme coin is less hype) they will be left again.

meme coins are not enough to generate much interest from investors except for beginners trying to gamble their luck and want to get rich quickly or vice versa. the nature of meme coin is not sustainable in the long term. We have gone through many meme coins even on the Solana network also many meme coins have been launched. Hype is definitely not the ideal sector for investors to play with big money unless they don't understand how long term investing works.

1 coin hype meme if I'm not mistaken $BONK, has attracted many fraudsters to launch the same coin and that's where Solana will become a hotbed of destruction. I mean just in a week or maybe 1 month it can last but in the end the Solana network can't fix its mistake in one night.

[Hypnosis00]

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

Not a surprise as meme coins are just hype and can't be trusted when it comes to long-term investment.
But, I don't say it was a mistake investing in Solana but be sure to sell them when it peaks otherwise, regrets are really gonna happen in the end. But if we are looking into something that we can assure the safety of our investment, better to avoid meme coins like Solana. The hype will never stay long and many investors had failed to make a profit because of thinking more (greed), and I don't want you to suffer like that.

[zasad@]

Recently a meme coin was launched on Solana network which got a lot of hype. As a result, Solana prices are about 40% up in last one week. Do you think this is good thing or bad thing for solana ? Just a meme coin causing this boost instead of some solid news like good partnerships or adoption in some company.

There is very little liquidity in the market right now, so the price usually drops after such pumps. Serious projects continue to leave this ecosystem.There is a lot of news about cryptocurrencies until there is no real mass application in the budget sectors for the majority of users.