Stay away from BONK

[o48o]

If you follow crypto news, you might be aware about solana dog shitcoin called "BONK" is up 900% the past week . If you are thinking to invest in this coin, let me share an important fact regarding this coin. The top 20 holders 50% of the coin.

You can yourself check this here
https://solscan.io/token/DezXAZ8z7PnrnRJjz3wXBoRgixCa6xjnB7YaB1pPB263#holders

So, it is obvious that they will eventually dump it. Those who are investing seeing the dramtic increase in prices will loose all their investment when it dumps.

It's up 3148.01% in 7 days right now, i don't know where you got that 900%. But if dumping is so obvious with Bonk, i have to ask you was it as obvious with Shiba Inu as well? Because that didn't stop top $300M marketecap. I mean this didn't have an ido or anything. It's a reward for active people in NFT community.

I mean yeah, i admit it's stupid and risky to invest to something like this but don't underestimate how much stupid people can pump meme coins. Because we have seen this before.

[Furious 7]

Things like this do happen very often and seeing the pattern with a large enough increase we should indeed be aware that coins like this will eventually be discarded regardless of the circumstances.
I saw this coin yesterday, especially when my friend tried to introduce it and tried to persuade me to buy this coin, but for an Altcoin that is not very clear like this, I am not very interested.

[JeffBrad12]

I guess it's just gonna be the next shiba inu that people are keep talking about whenever there is new meme coins appearing but this one is for real, after all it seems it has grown really fast and has become big enough just like shiba inu back then.
but the thing is, if it's already going up that high I doubt it could go ever higher as it has higher chance of just going down again, therefore I think investing in this coin right now is unadvised because we are already too late.
moreover with the fact that there are very few that holds majority of the supplies, it just adds my doubt about this coin but if it's truly next shiba inu it could retain its value for sure.

[blockman]

It's now falling. People will never learn about the past mistakes they did with meme coins, now, I guess that there will be new series' of these types of hype, pump, and dump coins again.
Those that are new are likely to fall for this but those that have seen it come and go will mostly ignore it. I saw have learned the lesson from the past and they're not buying it because they know that it will fall as soon as possible. It will not be surprising if this coin will have lesser volume within the next days.

[TastyChillySauce00]

But the thinking of most of the investors is that if the price is increasing fast, they feel tempted to invest in it. They do not look at the bigger picture.

People wanna FOMO such token no matter what happened with their money then. I have bought a few hundreds dollars since the price was having six zero and i have sold my bonk at ATH lol. The meme token shall not be considered as investment but i rather called it as gambling. Bonk has fair distribution and it seems like that those address were related to the exchange sites despite the fact that what you have said was true if investing when the price has been going up was a stupid movement that can be made by anyone. I think that newbies shall understand about it. They may be buying bonk caused by the price has been going down again very hard.
Pump and dump token for real

[lobo13hf]

Pricing of this coin already too high, I think it has reached its peak potential and everyone investing in it right now will just lose their money, i don't believe this coin could grow more than this seeing bearish trend going against it will cost tremendous investments money.
Even like that i'm sure so many still invests in this coin regardless, but we should see in the next few days because if the value still not decreasing, then it could still rise in the future.

[GreatArkansas]

As of now, it seems the BONK started to be dumped already. I'm glad I already sold most of my BONK around 24 hours ago.
There is a lot of hype going on about this so-called "dog coin" when I first heard it, it came to my mind this is another hype and pump and dump, it will pump and then dump immediately.

Some people relating this to shiba inu but for me, they came on the wrong time of the market, we are experiencing bear market or winter right now and I don't think so it's the best time for this.

[Fundamentals Of]

Nice warning. I hope many who are interested to invest in this shitcoin will come across this thread and abort their plans. Although I have doubts on many investors who don't even exert effort for a little due diligence before they invest on a risky shitcoin like this.

But even if I were a lazy investor I think I would still avoid investing in a coin that has already grown 900% in just a week. That high growth in price could probably mean there will be profit taking anytime and the price would correct.

[BossTrack]

It is what it is, if you are willing to accept the opportunity oh huge pumps and huge dumps. Live by the sword die by the sword, but I would never say -never- touch a hyper volatile coin, it's all pluses and minuses.

[krishnaverma]

Update time
54% drop in prices in less than 11 hours.

It will soon be nearing 0 again from where it started. Hope this post helped members to remain informed and stay away from this shiny shit coin. If you still invested in this coin and are in loss, treat it as a valuable lesson for future. There will be similar launches in future which will follow exact same pattern so it is not hard to spot these.

[Silberman]

It is what it is, if you are willing to accept the opportunity oh huge pumps and huge dumps. Live by the sword die by the sword, but I would never say -never- touch a hyper volatile coin, it's all pluses and minuses.

If the investors which are pumping their money in this coin are completely aware of what they are doing then there is nothing I would say to them as they are the ones that must decide how much risk they are willing to take when they invest in a coin, however the majority of those which invest in coins like these do not really know what they are doing, they do not understand some of the most simple concepts when it comes to investing, and for investors like that putting their money in a coin like this is a terrible idea.

[big kid]

Well, the name itself makes me not want to have it, all the DOGE rip-offs are pointless shit. At least DOGE was made as a joke, but all those are trying to grab some money so I'll never buy any of them.

[o48o]

Update time
54% drop in prices in less than 11 hours.

It will soon be nearing 0 again from where it started. Hope this post helped members to remain informed and stay away from this shiny shit coin. If you still invested in this coin and are in loss, treat it as a valuable lesson for future. There will be similar launches in future which will follow exact same pattern so it is not hard to spot these.

You are already calling zero? Why? Shiba inu corrected itself -60% first days when it started to pump like crazy. And that pump was nothing compared to what was coming later.
And no, i am not saying that Bonk would do this too, but i must say i am wondering why am i sensing hostility against it?

It's a token with fair distribution instead of a money grab, that's model we should celebrate instead of attacking how stupid it is. It's for community, it's for fun. Sure, it can go to zero but so can everything else so why the hate?

[cryptoaddictchie]

If the snapshot is for sol users. Expect that most owners are probably connected with them. Maybe also its a way of pumping sol, without any much risk since airdrop is one way of boosting such project. Take a look on its pump due to the airdrop news. Amazing isnt it. I think its a well planned moon mission. We all know shitcoin or fork coins without any much use is just a shitcoin and money making scheme only. Sorry for those who will play and get caught by fire.

[Kbourcrypto]

Calirally this kind of project based on the same corner is to be avoided as an investor! Kudos to those who airdropped and thought about taking your profit before this token plunged into the abyss! This shouldn't take long, especially in the bearmarket where the hype isn't present. NFA/DYOR

BTC My site : https://bitcoin-evasion.com/BTC

[mich]

Well as I have already said I think any person that bought this meme coin to think they would make easy profit do not understand the risks. It was only matter of time before it lost its value and it did that already and at rapid drop.

After 3,300% gains this coin has now lost dropped more than 54%. So many people made quick profit but on other hand many people were experienced with a bad introduction to crypto investments. I think Anyone who did not earn 5 billion Bonk on December 25 from LamportDAO lost money.

[Marvell1]

If anyone is looking to invest in this meme right now, stay away from them as they have gone up to 100x, this is too high a price to speculate any further. I have heard about it before, but I do not invest as we are still in the bear season, and investing in altcoins or memes at this time is quite risky.

But congrats to those who invested in it from the beginning and are making huge profits. Cryptocurrencies are like that, high returns come with risk, and not all altcoins or memes are bad, as long as you can accept the risk, you stand a good chance of getting big rewards.

[hd49728]

Tokens with smart contracts can easily be minted by developers and even they have lock, vesting time, most of their tokens are distributed to their core team members, developers. That is not a decentralized distribution but someone can ask, what does it mean?

Centralization of token distribution can lead to concentrated power in voting for protocol changes, upgrades and so on. More important for investors, such centralization implies risk of token dump by core team members. They can do this anytime and you don't know when they do it.

Or if one core team member with too big token holding, is hacked and that wallet is compromised, token can be dumped on the market too. This mean even if their team don't scam you, risk to see token dump is possible.

[Kelvinid]

If you follow crypto news, you might be aware about solana dog shitcoin called "BONK" is up 900% the past week . If you are thinking to invest in this coin, let me share an important fact regarding this coin. The top 20 holders 50% of the coin.

You can yourself check this here
https://solscan.io/token/DezXAZ8z7PnrnRJjz3wXBoRgixCa6xjnB7YaB1pPB263#holders

Good detection OP and doubt that this project has no way to stay longer in the market but a collapse and scam. This will ruin the image of Solana totally and meme coins can't really be trusted. Just to imagine that only 20 holders owe a huge amount of this coin, that is obviously price manipulation. Yes, it is indeed to stay away from this project.

So, it is obvious that they will eventually dump it. Those who are investing seeing the dramtic increase in prices will loose all their investment when it dumps.

It is certainly possible and based on my experience, most of the hyped projects will never stay high for a long time but it drops drastically bringing losses to the investors.

[Kemarit]

I'm not familiar with this so called BONK, but it's good that you have given the community a fair warning because obviously this is just another meme coins, for just pump and dump scheme and that's what really happening right now.

It's all time high is around December 30 as per cmc, but you can see it right now going down as high as 50% already.

Meaning the dump has been happening ever since their ATH and have been happening for a week now. And I don't think it will help Solana survived though if that's what this project is all about.