In essence, the Bonk coin achieving a $1 value is impossible. With an enormous circulating supply exceeding 65 trillion tokens, the market cap would surpass $65 trillion if the coin were to hit the $1 mark, making it an unrealistic expectation.
As excitement around meme coins increases, numerous investors are curious if BONK might surge in value, possibly hitting $1 or maybe just 1 cent eventually. However, the simple truth is that this is not feasible.
In this article, we are going to explain why BONK cannot reach $1 and consult the algorithmically generated price prediction to see where the meme coin could be headed in the short to medium term.
Key highlights:
- The potential for appreciation of low-priced assets like Bonk coin should be judged by market cap rather than individual unit price.
- Bonk coin reaching a value of $1 is implausible, as it would require a market cap of $65 trillion, surpassing the entire global GDP.
- Despite impressive past gains, the current value of BONK at $0.0000291 makes a surge to $1 extremely unrealistic, requiring a 34,363x increase.
- Even at 1 cent per token, BONK would command a market cap of $652 billion, which is more than Ethereum and all cryptocurrencies other than Bitcoin.
- Short-term predictions are bullish for Bonk coin, anticipating a 381% rise to $0.00014, influenced by catalysts like the upcoming Bitcoin halving.
Will Bonk coin reach $1?
To say that Bonk cannot reach $1 is an understatement. The token has a circulating supply of 65 trillion, meaning that at $1 per coin, the project’s total market cap would stand at $65 trillion. For context, the GDP of all countries in the world combined is about $100 trillion, which hopefully demonstrates just how utterly unrealistic that scenario is.
Bonk Coin (BONK) – which was initially launched as a free airdrop to the Solana community on Christmas in 2022 – impressed investors with 6,100% gains over the past 12 months. The large price increase has made many investors hopeful and perhaps overly optimistic about its future growth potential.
Here’s the catch: BONK is currently trading at $0.0000291, meaning that it would have to increase 34,363x from its current price to reach $1 (which would entail a market cap of $65 trillion). There’s simply no way that enough money could pour into BONK to support such a market valuation.
Will Bonk coin reach 1 cent?
BONK achieving 1 cent is highly improbable but not theoretically impossible. At a price of $0.01, BONK would sport a market cap of about $652 billion, about half that of Bitcoin. However, expecting a meme coin to have a larger market cap than Ethereum is probably nothing more than wishful thinking.
For a clearer perspective, refer to the table below, which outlines key price milestones for BONK and their respective market caps:
| Price | Market Cap | % Change From Current Price |
|---|---|---|
| $0.0000291* | $1,897,029,000 | 0.00% |
| $0.0001 | $6,519,000,000 | 244% |
| $0.001 | $65,190,000,000 | 3,336% |
| $0.01 | $651,900,000,000 | 34,264% |
| $0.1 | $6,519,000,000,000 | 343,543% |
| $1 | $65,190,000,000,000 | 3,436,326% |
*Price at the time of publication.
At its present circulating supply, you shouldn’t expect BONK to ever reach 1 cent, let alone $1. However, if the project were to employ a token burning program – similar to ones from Shiba Inu or BNB, for example – the equation would change completely. If enough BONK tokens were removed from circulation, the coin could reach much higher price milestones. In that case, the exact scope of a potential price increase would depend completely on the share of tokens that would be destroyed.
Bonk coin price prediction 2024 & 2025
While the $1 price target is unreachable, given the current tokenomics model, that doesn’t mean that BONK has no upside potential.
Our algorithmically generated BONK price prediction forecasts a bullish short-term trend, with the coin gaining 381% and hitting $0.00014 by mid-April. The price peak coincides with the upcoming Bitcoin halving, which is widely regarded as one of the most important price catalysts for cryptocurrencies.
After the initial surge, the price of BONK could retrace below $0.00005 by the second half of 2024 before regaining momentum and settling around the $0.00008 mark 12 months from now.
The bottom line
Many novice investors believe that low-priced assets have a greater potential for appreciation compared to higher-priced ones. They observe meme coins valued at fractions of a cent and assume these have an easier path to gaining value compared to cryptocurrencies already priced at, say, $100. However, the actual price of an asset is not very indicative of its potential.
What should be considered instead is the market capitalization. For instance, if an asset with a $1 million market cap increased by 1000x, it still wouldn't make it into the top 100 cryptocurrencies by market cap. Conversely, a project like Bonk coin, which already boasts a market cap of around $1.9 billion, would reach $1.9 trillion if it were to grow by 1000x. For comparison, the total crypto market cap stands at $2.67 trillion at the moment, so you be the judge of how realistic a scenario that is.
If you want to read about other meme coins and their price potential, check out our other articles covering similar topics:
- Will Pepe coin reach $1?
- Will Shiba Inu reach $1?
- Will Shiba Inu reach 1 cent?
- Will Dogecoin reach $1?
