Bonk, which can be bought on Solana, is currently about 96% below its All-Time-High. However, despite this huge discount, I'm still not sure if Bonk is worth it. I'm not a big fan of meme coins in general, and I'm especially wary of ones that launch with no real utility.
I've seen some people claim that Bonk will be the next Shiba Inu, but I'm not sure I agree. Shiba Inu was lucky enough to launch at a time when the meme coin market was booming. Bonk, on the other hand, was launched in the middle of the bear market.
I'm also concerned about Bonk's tokenomics. The fact that it has a fixed supply of 94 trillion tokens with only 43 trillion available means that it's quite inflationary. This means that the value of Bonk is likely to decrease over time.
Therefore, I'm not convinced that Bonk is a good investment. I'm going to wait until it has a real utility before I consider touching it.
Here are some of the things I'd like to see before I invest in Bonk:
- A clear roadmap for the project.
- A team of experienced developers.
- Partnerships with real-world businesses.
Until then, I'm going to stay on the sidelines.
Disclaimer: This is not financial advice. Crypto prices can be very volatile. Please do your own research.