The memecoin are still alive and kicking, and Dogecoin, Bonk, and Solana are the proof. Today we will analyze the prices of these three crypto.
Analysis of the price of Dogecoin and comparison with Solana and Bonk
Dogecoin is the first and most important memecoin in the world.
In fact, it debuted on the crypto markets twelve years ago, and it is still the memecoin with the largest market capitalization. It capitalizes almost four times more than the second, Shiba Inu, more than six times the third, Pepe, and even more than ten times the official memecoin of Donald Trump.
Despite this, however, it is not going through a particularly favorable moment.
It must be said that there were really many expectations, especially related to the DOGE of Elon Musk, namely the official government department of the USA led by the biggest supporter of Dogecoin, which had the task of drastically cutting state expenses.
In the end, for now, this has turned out to be a double disappointment, both because U.S. government spending is actually still increasing, and because Elon Musk did not take advantage of the name he gave to the department to raise the price of Dogecoin at all.
With Trump’s electoral victory, the price of Dogecoin jumped from $0.1 to almost $0.5, but after his inauguration at the White House, it began a bear phase that brought it back below $0.15.
However, this descending phase stopped a month ago, even though since then the rebound has been minimal, with a return just above $0.2.
Note that the current price level is even lower than the relative peak at the beginning of last year, as well as still being at -70% compared to the all-time highs of 2021.
The hypothesis is that if Elon Musk does not do something for Dogecoin, the all-time highs may be very difficult to reach, even in the case of altseason. Nevertheless, it is still possible that there will be an altseason, and therefore its price may increase in the coming months.
The trend of the price of Solana (SOL)
Solana is not a memecoin, but it has now become the blockchain of reference for memecoin.
Although the main memecoin on Solana, TRUMP, is the fourth in the world by market capitalization, it still capitalizes less than a tenth compared to the first (Dogecoin), and less than half of the third (Pepe).
However, by now the vast majority of new memecoins are launched on Solana, so much so that the great success of SOL in recent years is most likely due to this.
In fact, not only does SOL have more than double the market capitalization of Dogecoin, but it also has further growth potential.
After reaching a historic high above $230 in 2021, during the last bullrun it managed to nearly hit $300 in January of this year.
However, when this latest mini-bubble burst, its price returned below the levels prior to Trump’s electoral victory. This is the classic trend of speculative assets, also because despite Solana being an independent blockchain compared to its memecoins, it is especially the latter that are causing its price to pump.
The correction following the burst of the mini-bubble halted in April, approaching $100 but without falling below this psychological threshold. Subsequently, the price recorded a rebound up to $160, but this rebound might not yet be concluded.
Note that if the current price level is significantly higher than that of two years ago ($20), it is, however, lower than both the all-time high of January and the relative peak of early 2024. In other words, since December 2023, it has been oscillating between $100 and $200, with a single excursion above this latter threshold lasting from late November 2024 until January 2025.
The performance of Bonk
Before the arrival of Trump’s memecoin, Bonk was the main memecoin on Solana.
Now it capitalizes just over half of TRUMP, and just over Fartcoin.
Having entered the crypto markets at the end of 2022, it did not go through the great bull run of 2021, so much so that its all-time high dates back to November 2024, precisely thanks to the so-called Trump trade.
It is worth noting, however, that the price of Bonk recently performed really well only during the mini-altseason at the end of November 2024, while it already started to decline in December. On the other hand, this is a classic behavior for a purely and exclusively speculative asset.
On the contrary, the burst of that mini-bubble has brought the price well below that of the end of October, and the subsequent rebound has been minimal. In fact, even now it is lower than that of October, and indeed it is even lower compared to the local peak of December 2023.
In the absence of another mini-bubble, it seems to be quite difficult for it to return to its highs.