Bonk Meme Coin Loses 50% of Its Value, Is Meme Coin Done? Crypto Market Review, Jan. 6

$BONK, which fueled rally on $SOL, is rapidly losing value, dragging its older brother down

, Ethereum's burn rate recovery and other interesting things are happening on the market right now. Despite the short-term nature of the aforementioned events, it gives us an important signal: investors are trying to push recovery on the cryptocurrency market, but there are fundamental factors that are not allowing this to happen.Meme coins on the crypto market are almost always short-lived, especially without proper market making and liquidity provision.

The long-term future of BONK is unclear, but investors should put their hope on assets created purely for memes and fun. Otherwise, we will witness a situation similar to Shiba Inu, when an asset created for fun and memes turned out to be a disaster for thousands of investors who lost their funds by grabbing the token at local highs.

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