Stay away from BONK

[Odusko]

This meme coin (BONK) is trending right now. People are getting hyped by the news that developers burned 5 Trillion Bonk. We really expect that the price will rise up a little but gradually the price will go down. I hope we will gather more information about the project before we invested it.

burning 5 Trillion BONK and the total supply according to coinmarketcap is very large, 99 trillion BONK, and you hope that just burning 5 trillion will make BONK go up high?
I think you really have a dream and maybe BONK is nothing more than a shitcoin!. keep in mind! do not believe in memecoin other than DOGE and SHIBA,
because meme coin is very dangerous for future investment unless you just want to trade it

At this point, we all need to be careful with all these meme coins because there can be overhyped and lure investors into holding some of those coins.
There can easily be pumped and dumped since only few individuals have access to a large percentage of the total supply, if you no the amount of the coins that are allocated to their team members you will be amazed and settle with the fact that these coins can't go far.
Take sol for an instant you see how the price dropped significantly in the early days of last month which shows how vulnerable altcoins are when the market faces any challenge.

[Quidat]

-cut-
do not believe in memecoin other than DOGE and SHIBA,
because memecoin is very dangerous for future investment, unless you just want to trade it

People didn't believe in memecoins like Doge and Shiba when they came.
Some people warned not to invest in such a crap.
Some people didn't listen to warnings and made lots of money by investing to them.

So how can you tell this is  not one of those cases in the future?
Personally i wouldn't know. One thing i've learned is to never underestimate stupid people and their willingness to keep meme coins high in charts.

Even myself wasnt really expecting about SHIB but it is obviously been driven with some solid hype and surprisingly people had able to stick into that which it turns out that it is already a significant
meme coin aside from Doge which we could really say that this market is really that truly unpredictable and there's no way we could really be able to tell on which coin would sustain and which
coin would eventually die and wither away.It all matters with the demand even if the said project doesnt have much use case or much worst with other projects out there but if its
really be just been driven with some hype then it would really be an another story.

[lalabotax]

I think that we should always stay away from something shit and hype only.
we know how many people are losing money because of the hype of this way, many people are supposed to believe that the success of this coin is related to Solana and meme coins But we know that this is likely only a game of hype to attract many more people and trapped them in this cycle and then we will see the dump market of this coin will be right there soon.
We also really understand that when we buy a coin late and at the peak of the price, then we are really at risk of losing money. because usually shit coins will fall and become the next dead coin when it's past its hype period. That is why I do really agree that we must stay away from that coin and other similar hype shitcoins.

[poodle63]

there is always nothing good with investing in meme coin if you're already too late and the value already increased quite a lot, you could think yourself like those guys that gets stuck investing meme coins while the others are already in stage of dumping their meme coins, only invest if it seems the value is relatively low, otherwise you're wasting your time and money in these meme coins just to make other people out there becoming richer and richer, if you think you're too late already in investing, just invest in normal coins, they are just as good honestly.

[crwth]

Coins like these are for quick buy and sell only. Unless you are really into the project and want to hold it. I think cause it is new,  it’s definitely getting hyped, and many people are probably thinking of buying it. I do not have any news or anything that popped into my feed. It is the first time I have heard of this. It is the first time I have heard of this

[Silberman]

Coins like these are for quick buy and sell only. Unless you are really into the project and want to hold it. I think cause it is new,  it’s definitely getting hyped, and many people are probably thinking of buying it. I do not have any news or anything that popped into my feed. It is the first time I have heard of this. It is the first time I have heard of this

And just like that this coin is down 67% from its all time high that it reached just 5 days ago, when the OP posted about this coin it had already reached the top, so their warning was very timely and I hope that at least a few users thought about it twice before putting their money in this coin, lamentably there were many other people that refused to listen and invested in that coin and now in just a matter of days they have lose two thirds of whatever money they decided to invest on BONK.

[crwth]

Coins like these are for quick buy and sell only. Unless you are really into the project and want to hold it. I think cause it is new,  it’s definitely getting hyped, and many people are probably thinking of buying it. I do not have any news or anything that popped into my feed. It is the first time I have heard of this. It is the first time I have heard of this

And just like that this coin is down 67% from its all time high that it reached just 5 days ago, when the OP posted about this coin it had already reached the top, so their warning was very timely and I hope that at least a few users thought about it twice before putting their money in this coin, lamentably there were many other people that refused to listen and invested in that coin and now in just a matter of days they have lose two thirds of whatever money they decided to invest on BONK.

This is pretty much expected with the current type that it has and a lot of people are probably in the high hoping that it would rise in price, but it doesn’t work like that because someone has to lose money in order to gain money. If you could’ve shorted this, you would also have made money. 

[Xal0lex]

-cut-
do not believe in memecoin other than DOGE and SHIBA,
because memecoin is very dangerous for future investment, unless you just want to trade it

People didn't believe in memecoins like Doge and Shiba when they came.
Some people warned not to invest in such a crap.
Some people didn't listen to warnings and made lots of money by investing to them.

So how can you tell this is  not one of those cases in the future?
Personally i wouldn't know. One thing i've learned is to never underestimate stupid people and their willingness to keep meme coins high in charts.

Investing in memcoin does come with a lot of risk and there is a lot of scam on the market, which is mainly focused on pancakeswap, but this coin is traded on more influential exchanges, so there might be a little different development here. In any case, the next 6-12 months will put everything in its place and show who was right and who missed the profit.

[goldkingcoiner]

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.

Yeah it definitely has all the makings of a pump and dump. 1000% up now. Seriously? We are supposed to believe that bonk, with a market cap of under 30 mill. (which still has not changed) is the next big thing? Oh please. Its obvious that the developers poured that money in, themselves. They are waiting patiently until enough people buy their shitcoin at which point, they will screw everyone over.

Not trustworthy at all!

Shame on all the writers like coindesk that put this scammy shit on their front page!

[fzkto]

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.

Yeah it definitely has all the makings of a pump and dump. 1000% up now. Seriously? We are supposed to believe that bonk, with a market cap of under 30 mill. (which still has not changed) is the next big thing? Oh please. Its obvious that the developers poured that money in, themselves. They are waiting patiently until enough people buy their shitcoin at which point, they will screw everyone over.

Not trustworthy at all!

Shame on all the writers like coindesk that put this scammy shit on their front page!

Maybe BONK is shit, but after the appearance of this shitcoin the whole market came to life. Remember how the same stories were with doge or shiba. There are a lot of coincidences in cryptocurrency. Maybe BONK was the forerunner of the altseason? It's probably foolish to look for coincidences in this, but I think that BONK will still make itself known. If you look the list of exchanges, where this coin is traded, it is quite impressive. If leading exchanges will be added to it, the price will fly high again.

[JunkieMiner]

one day ago, there was a coin named "FamoInu" and they are calling it a meme coin, which have about 90K followers at twitter, and they started to giving out about 251 NFTS Worth 1 Solana each, I bought it for 1 Solana, and after their Nfts sold in one to two days, they ran away and deleted their all accounts. So I mean that, in these days many fake meme coins are there to scam. Be aware

[Xal0lex]

one day ago, there was a coin named "FamoInu" and they are calling it a meme coin, which have about 90K followers at twitter, and they started to giving out about 251 NFTS Worth 1 Solana each, I bought it for 1 Solana, and after their Nfts sold in one to two days, they ran away and deleted their all accounts. So I mean that, in these days many fake meme coins are there to scam. Be aware

It is definitely worth staying away from such projects, because they are not known, not supported by anyone and not traded anywhere. Such coins are created to quickly enrich the creators of this coin and the final result of such coins is always the same, it's a scam. If you want to invest in meme coin, you must take care to analyze some data about the coin, e.g. how it is liquid, which exchanges it is traded on and so on.

[Pesona1]

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 is appropriate for us to learn from existing experiences such as when shitcoin shitcoin first experienced hype, it's not wrong to invest in coins like shitcoin but at least only for the short term not long term like we invest in bnb or eth, for who have experienced from  shiba inu hype of course understands that the increase in Bonk is nothing but the result of the hype that is happening on twitter and of course that is very dangerous because the shitcoin could fall quite deep in price, in my opinion what the OP said is quite true because it looks like we are just waiting for the time when the holders the releasing all the Bonk it has, so the price of the bonk will soon return to the bottom and in the end, those of us who believe in shitcoins like this will feel the loss.

[Valeriary]

Your suggestion is correct. Its hype has attracted a lot of people. The final outcome may be the same as everyone thinks. But there will still be many people who choose him. They believe that the greater the risk, the higher the profit. You will regret it when it is too late.

[Questat]

Your suggestion is correct. Its hype has attracted a lot of people. The final outcome may be the same as everyone thinks. But there will still be many people who choose him. They believe that the greater the risk, the higher the profit. You will regret it when it is too late.

Greedy people will easily get attracted and this is one reason why scammers and these developers will never stop creating hype and scam projects because they'll know that they can still make money from this.

They believe that the greater the risk, the higher the profit.

It was a different story from investing shitcoins or hype coins compared to potential projects as all of them are associated with high risk. But in investing in BONK, I would say it was not a wise decision. I don't mind the offer or huge possible capital multiplier because what is important now is to have assurance (at least) to get returns from investing.

[blockman]

Already gave a warning about this coin and those that have FOMOed and then as you can see, with the price of bonk now. It is going nowhere but to the pitfall.
Those people that have ridden the hype of it again are going to feel sorry for what they've done because they shouldn't let their emotion ride the hype of it.

[AnonBitCoiner]

I missed bonk at early stage and people made a very good profit from this. I have NFt in almost all Blockchain except Solona and this why missed Bonk airdrop.
I took entry in Chill Coin and I lose 20$ because I invested 25$. It down 10x almost. I also recommend new user to stay away from Solona meme coins.

[klidex]

-cut-
do not believe in memecoin other than DOGE and SHIBA,
because memecoin is very dangerous for future investment, unless you just want to trade it

People didn't believe in memecoins like Doge and Shiba when they came.
Some people warned not to invest in such a crap.
Some people didn't listen to warnings and made lots of money by investing to them.

So how can you tell this is  not one of those cases in the future?
Personally i wouldn't know. One thing i've learned is to never underestimate stupid people and their willingness to keep meme coins high in charts.

Investing in memcoin does come with a lot of risk and there is a lot of scam on the market, which is mainly focused on pancakeswap, but this coin is traded on more influential exchanges, so there might be a little different development here. In any case, the next 6-12 months will put everything in its place and show who was right and who missed the profit.

However, investing with Memcoin can actually make investors experience huge profits if the coin is successfully developed and there are no managers who commit fraud. Even though it is true from what you said that Memcoin has a big risk too.
I think an investor will dare to take a risk if the coin he believes in as an investment asset is really worth it.
I don't know how an investor can analyze a new project like Memcoin, but in reality many investors are convinced and interested in investing in Memcoin.

[fzkto]

I missed bonk at early stage and people made a very good profit from this. I have NFt in almost all Blockchain except Solona and this why missed Bonk airdrop.
I took entry in Chill Coin and I lose 20$ because I invested 25$. It down 10x almost. I also recommend new user to stay away from Solona meme coins.

You give the right advice for beginners. But I would add for myself that it is better to stay away from various altcoins altogether. At first, you should invest in bitcoin and not fill your head with all the possible new blockchains. Eventually you will understand the market and start buying projects that interest you.

[Cling18]

I missed bonk at early stage and people made a very good profit from this. I have NFt in almost all Blockchain except Solona and this why missed Bonk airdrop.
I took entry in Chill Coin and I lose 20$ because I invested 25$. It down 10x almost. I also recommend new user to stay away from Solona meme coins.

You give the right advice for beginners. But I would add for myself that it is better to stay away from various altcoins altogether. At first, you should invest in bitcoin and not fill your head with all the possible new blockchains. Eventually you will understand the market and start buying projects that interest you.

There are still potential new projects that are worth investing in but some of them could only be profitable in the beginning and would turn into a rug later on. There are risk that are worth taking but if you seek assurance, better invest in well-established coins like Bitcoin, ETH, and BNB. If you missed the early stage, better avoid a project that is just trying to survive.