The new dog-centered gadget has experienced a roller coaster ride in the past few weeks since its launch. The dynamic password for Solana, the company's headquarters, suddenly continues to evolve, ranking among the top 200 cryptocurrencies by market capitalization, and it was seriously damaged by an important bullish market late Thursday afternoon.

Why has BUNK collapsed?

The volatile encryption market has experienced an astonishing 24 hours, with the prices of most cryptocurrencies rising rapidly. At the time of writing, the total market capitalization of the entire data encryption industry rose 3.38% to $881.76 billion. By comparison, the price of Solana virus-infected Memecoin plummeted.

Although the Solana community has been uniting around the cryptocurrency, calling it "everything for the people and commonly used by ordinary people", its value has fallen by 35% in the past 24 hours. Since it has mainly outperformed the stock market since the beginning of this year, it will not be too difficult to combine the factors that have caused its price to fall.

Bunker Whale themed event

In the past few weeks, Banc has encountered a very large gathering of dolphins, with news that wallet investors have bought millions or even billions of disease tokens. Under the premise of reducing the price, the token still maintains a steady rate of return and is still in the lead at the price level.

Read more information:Take a look at the top ten breach loan platforms in 2023.

However, after the collapse of the current bullish sentiment, the total market value of the complete diluent fell 32.61% to $102 million, while the 24-hour trading volume of the alternative currency surged 200% to $36 million. This immediately illustrates the objective fact that a very large number of black whales have been sold in order to make huge profits.

Will the price of Bock go up more and more?

On January 12th, Solana NFT fans cheered the launch of the Bonkz NFT series, which immediately overtook ABC, y00ts and DeGods, except for some other well-known NFT markets in Solana blockchain technology. After the initial market sale, the real estate developer of the NFT collection determined to burn down the frenzied tokens of 1.39 million euros. Solana community firmly believes that incineration theme activities also help to maintain the value of commemorative gold coins in the long run.

As things stand, the price of Bonk is $0.000001014 at this stage. According to CoinMarketCap, a market tracking organization that logs in to password sales, it fell 36 per cent for the day, compared with an increase of 837 per cent in the previous period.

Please also refer to:Nearly $12 billion is gone from Binance's property; what's going on?