Stay away from BONK - page 4. | Bitcointalksearch.org

asawale

member

Activity: 136

Merit: 11

Quote from: krishnaverma on January 05, 2023, 08:45:08 AM

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.

This confirms my suspicion about the project when i checked it on DEXTOOL. The ratio score still remains zero despite the huge pump. That pose a red flag. Newbies who don't know how to check the credibility, how much held by owners wallets, duration of which the liquidity is locked can search for the project on dextool to check the rating score and liquidity info to check if it is safe to invest into.

nara1892

hero member

Activity: 1554

Merit: 654

Not only $BONK, but these coins are now widely discussed among traders or investors

Yes, this is a meme coin that has managed to steal attention by flying so high in the last few days, and also I see on social media that people are interested and buying this meme coin. I'm not going to ban them even though I know it's going to be trash eventually, but I'm just suggesting never wanting to profit in a coin like this. If we have already entered, then immediately take advantage if you have got it.

abel1337

legendary

Activity: 2464

Merit: 1145

FOCUS

Quote from: Ngemmeng on January 06, 2023, 10:54:39 AM

I invested $50 in this altcoin and some time later it was $170, I could have made much more than that but I am aware of the risks if I hold this coin too long. I know that this altcoin is listed on many exchanges and has a very large daily volume but still this altcoin is a meme coin and long term investment in meme coins is not recommended (especially new meme coins). but at least this meme coin lifted the price of SOLANA a bit Grin

Well that's pretty nice, You profited on the wave of that meme coin. Holding it long term is an obviously bad decision, Most of the holder of that coin is either an airdrop recipient or the one who wants to ride the wave of the hype. I'm speculating that few days or weeks from now, It will start losing it's value and the one who bought at the top will become the casualty of the wave. I've seen videos about BONK in social media such as tiktok and it gained a quite lot of traction. There's a high chance that some of those who watched that is trying to profit from the hype just like what you did.

Sterbens

sr. member

Activity: 1848

Merit: 341

Duelbits.com

Quote from: Ngemmeng on January 06, 2023, 10:54:39 AM

I invested $50 in this altcoin and some time later it was $170, I could have made much more than that but I am aware of the risks if I hold this coin too long. I know that this altcoin is listed on many exchanges and has a very large daily volume but still this altcoin is a meme coin and long term investment in meme coins is not recommended (especially new meme coins). but at least this meme coin lifted the price of SOLANA a bit Grin

At the beginning of the year we were shocked by the hype of this meme coin, and many people I said they were too following the hype and trying their luck without analyzing more deeply about this meme coin. Glad to hear you have made a big profit from this coin, have you withdrawn your invested capital and made a profit? if yes it is the right decision in my opinion. And if you still want to hold this coin, leave some because you have already made a profit.
It's not just $BONK that's currently getting hype, several coins on the network are starting to appear.

Ngemmeng

full member

Activity: 1092

Merit: 100

I invested $50 in this altcoin and some time later it was $170, I could have made much more than that but I am aware of the risks if I hold this coin too long. I know that this altcoin is listed on many exchanges and has a very large daily volume but still this altcoin is a meme coin and long term investment in meme coins is not recommended (especially new meme coins). but at least this meme coin lifted the price of SOLANA a bit Grin

LogitechMouse

legendary

Activity: 2422

Merit: 1036

Chancellor on brink of second bailout for banks

I remembered last week when PI Coin (fake one) has been listed on 2 exchanges.
Take note that it is a fake PI coin and the developers of that scam coin already said that they aren't involved on that listing, and they aren't the one who listed it. On one exchange (can't remember the one), it went as high as $300 until it went down to $1 in just a matter of hours I guess or even minutes.

Both that fake PI coin and this BONK will have its similarities. BONK will be dumped like what always happen. It's a meme coin and at the same time, people got it from airdrop. Well, some especially those who believe in BONK might say that "Uniswap also airdropped their tokens and look where it is now". Then prove us wrong

. Just by looking at the comments of the users here, it looks like it will be a shitmemecoin that will be dumped anytime soon.

Jackl87

sr. member

Activity: 1722

Merit: 269

Quote from: KiaKia on January 06, 2023, 08:34:01 AM

BONK is a big surprise to me this year, how can a meme coin from a dying smart contract project called solana gained so much attention in a very short period of time? The website is also a big red flag because the information is very limited, only three tabs are available on the website. Are people completely crazy or what?

Well, maybe not crazy but very naive or even very desperate. I mean it is a fact that some early investors of Shiba Inu got really really rich with only a very small initial investment and such stories just become extremely popular and widespread. Those stories were also the reason why we had that stupid meme-coin hype in 2021 and 2022 with hundreds of new meme-coins appearing every day. People just wanted to get rich overnight without doing anything. Obviously this never worked out again after Shiba Inu.

In my opinion Bonk was a well planned scheme of the team and also some big whales. So they launched this "project" the whales bought in and pumped the price heavily. This obviously made the whole market aware of that project and naive small investors aped in.
Bonk is already down 56% again in the last 24 hours. The downfall has already begun. Again it were the small investors that got rekt.

KiaKia

sr. member

Activity: 658

Merit: 384

BONK is a big surprise to me this year, how can a meme coin from a dying smart contract project called solana gained so much attention in a very short period of time? The website is also a big red flag because the information is very limited, only three tabs are available on the website. Are people completely crazy or what?

Zanab247

full member

Activity: 1190

Merit: 126

★Bitvest.io★ Play Plinko or Invest!

Quote from: krishnaverma

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.

I guess, many traders will start changing their minds back to Ethereum no matter the high fees involved because, with this information show that those coins you mentioned will dump to cause traders to experience lost from their investment. I started investing in potential coins like Bitcoin and Ethereum which, I have full confident of earning something reasonable in the future because, those coins don't dump easily like Solana, and Dogecoin that dump to affect traders incomes.

TalkativeCoin

member

Activity: 124

Merit: 11

Thanks for the heads up, I've put it on my "Do not invest/Take a better look into it" list.

Their webpage and content on there (especially the whitepaper) is also a really good tell, it's a red flag, at least to me.

fzkto

sr. member

Activity: 2254

Merit: 439

Cashback 15%

Quote from: Kemarit on January 06, 2023, 05:59:43 AM

I'm not familiar with this so called BONK, but it's good that you have given the community a fair warning because obviously this is just another meme coins, for just pump and dump scheme and that's what really happening right now.

It's all time high is around December 30 as per cmc, but you can see it right now going down as high as 50% already.

Meaning the dump has been happening ever since their ATH and have been happening for a week now. And I don't think it will help Solana survived though if that's what this project is all about.

Yes, now some exchanges offer profitable trading of this coin, with prizes for those who will have a large volume of trades. In fact, there are a lot of such shitcoins appearing. You just don't need to pay attention to short-term hype and then you won't become a victim of price falling. Now it's better to hold the time-tested coins and not to trade.

lienfaye

hero member

Activity: 2912

Merit: 629

Quote from: blockman on January 05, 2023, 06:55:25 PM

It's now falling. People will never learn about the past mistakes they did with meme coins, now, I guess that there will be new series' of these types of hype, pump, and dump coins again.
Those that are new are likely to fall for this but those that have seen it come and go will mostly ignore it. I saw have learned the lesson from the past and they're not buying it because they know that it will fall as soon as possible. It will not be surprising if this coin will have lesser volume within the next days.

Even some investors already experienced to lose their money for investing in shitcoins in the past, they will not learn if they're still greedy to earn instantly even it's risky. So it's not surprising if many investors fall in this trap to ride the soaring price. But yes it's now falling so those who bought at peaked are probably worrying now. Bonk is a shitcoin and you'll know it if you did a research and not just by relying on the price that had a drastic increased that's why you invest. Again, DYOR and don't invest blindly.

koang

sr. member

Activity: 2366

Merit: 264

Quote from: blockman on January 05, 2023, 06:55:25 PM

It's now falling. People will never learn about the past mistakes they did with meme coins, now, I guess that there will be new series' of these types of hype, pump, and dump coins again.
Those that are new are likely to fall for this but those that have seen it come and go will mostly ignore it. I saw have learned the lesson from the past and they're not buying it because they know that it will fall as soon as possible. It will not be surprising if this coin will have lesser volume within the next days.

Hell yeah, BONK is a shitcoin. It’s going to zero.
If we put our money into this, we deserve to get rekt.
Seriously, this is complete nonsense and discredits the space.

Rally the pumpers to pump and dump and then tell everyone about Coin burn for legitimacy. This is the shitcoin playbook.

Kemarit

legendary

Activity: 3080

Merit: 1353

I'm not familiar with this so called BONK, but it's good that you have given the community a fair warning because obviously this is just another meme coins, for just pump and dump scheme and that's what really happening right now.

It's all time high is around December 30 as per cmc, but you can see it right now going down as high as 50% already.

Meaning the dump has been happening ever since their ATH and have been happening for a week now. And I don't think it will help Solana survived though if that's what this project is all about.

Kelvinid

sr. member

Activity: 2800

Merit: 344

when lambo...

Quote from: krishnaverma on January 05, 2023, 08:45:08 AM

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

Good detection OP and doubt that this project has no way to stay longer in the market but a collapse and scam. This will ruin the image of Solana totally and meme coins can't really be trusted. Just to imagine that only 20 holders owe a huge amount of this coin, that is obviously price manipulation. Yes, it is indeed to stay away from this project.

Quote

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 certainly possible and based on my experience, most of the hyped projects will never stay high for a long time but it drops drastically bringing losses to the investors.

hd49728

legendary

Activity: 2044

Merit: 1018

Tokens with smart contracts can easily be minted by developers and even they have lock, vesting time, most of their tokens are distributed to their core team members, developers. That is not a decentralized distribution but someone can ask, what does it mean?

Centralization of token distribution can lead to concentrated power in voting for protocol changes, upgrades and so on. More important for investors, such centralization implies risk of token dump by core team members. They can do this anytime and you don't know when they do it.

Or if one core team member with too big token holding, is hacked and that wallet is compromised, token can be dumped on the market too. This mean even if their team don't scam you, risk to see token dump is possible.

Marvell1

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Leading Crypto Sports Betting & Casino Platform

If anyone is looking to invest in this meme right now, stay away from them as they have gone up to 100x, this is too high a price to speculate any further. I have heard about it before, but I do not invest as we are still in the bear season, and investing in altcoins or memes at this time is quite risky.

But congrats to those who invested in it from the beginning and are making huge profits. Cryptocurrencies are like that, high returns come with risk, and not all altcoins or memes are bad, as long as you can accept the risk, you stand a good chance of getting big rewards.

mich

legendary

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#1 VIP Crypto Casino

Well as I have already said I think any person that bought this meme coin to think they would make easy profit do not understand the risks. It was only matter of time before it lost its value and it did that already and at rapid drop.

After 3,300% gains this coin has now lost dropped more than 54%. So many people made quick profit but on other hand many people were experienced with a bad introduction to crypto investments. I think Anyone who did not earn 5 billion Bonk on December 25 from LamportDAO lost money.

Kbourcrypto

newbie

Activity: 3

Merit: 0

Calirally this kind of project based on the same corner is to be avoided as an investor! Kudos to those who airdropped and thought about taking your profit before this token plunged into the abyss! This shouldn't take long, especially in the bearmarket where the hype isn't present. NFA/DYOR

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cryptoaddictchie

legendary

Activity: 2072

Merit: 1315

If the snapshot is for sol users. Expect that most owners are probably connected with them. Maybe also its a way of pumping sol, without any much risk since airdrop is one way of boosting such project. Take a look on its pump due to the airdrop news. Amazing isnt it. I think its a well planned moon mission. We all know shitcoin or fork coins without any much use is just a shitcoin and money making scheme only. Sorry for those who will play and get caught by fire.

Topic: Stay away from BONK - page 4. (Read 1293 times)