Why BONK Keeps On Rising, Price Explodes 124% Today – Here’s The Scoop
December 15 2023 - 8:00AM
NEWSBTC
The announcement from the crypto exchange Coinbase regarding its
decision to list the cryptocurrency has sparked a remarkable 98%
surge in the price of BONK over the last 24 hours. This comes on
the heels of BONK hitting an all-time high of $0.000029 today, as
bullish investors capitalized on strong positive market sentiment
and major exchange listings. Related Reading: Terra Luna Classic
Rockets Over 300% And Collapses — More Pain Ahead? BONK Inks Solid
Numbers The Solana-based meme coin has experienced an impressive
750% increase over the last 30 days, marking a significant
milestone in its upward trajectory. BONK explodes 98% in the last
24 hours. Source: Coingecko The recent addition of BONK on
Binance has played a significant role in driving up its price as
well. Binance intends to include the memecoin as a crypto asset
that may be borrowed on its Isolated Margin Program starting
December 17. Also, Coinone, a cryptocurrency exchange based in
South Korea, has recently said that it would include BONK on its
platform. The BONK/KRW pair will be available for trading, with
deposits starting on December 14 at 10:00 a.m. (KST) and spot
trading opening on the same day at 5:00 p.m. (KST). All these
listings are proving to be beneficial for the price of the meme
coin. BONK 30-day price action. Source: Coingecko Since its
introduction in December 2022, BONK’s price has increased
dramatically; it has grown by 7,000% since September 2023, making
it the third-largest meme coin behind Dogecoin (DOGE) and Shiba Inu
(SHIB). Following its launch, Bonk acquired popularity within the
Solana ecosystem by acting as a payment method for non-fungible
tokens (NFTs) and discovering a variety of applications. This Meme
Coin Is No Joke Since October, the coin has grown rapidly despite
its initial debut as a parody token due to the high level of
interest in the Solana ecosystem. With 61 trillion BONK in
circulation, the coin’s market capitalization is currently $931,186
indicating a significant 66.60% price gain over the last seven
days. BONKUSD currently trading at $0.0000261942 territory. Chart:
TradingView.com Given the significant influence of the Solana
ecosystem on Bonk’s ascent, this ranks it as the 70th largest
cryptocurrency. In a related news, BONK has shared BONKBot, a new
software that makes bitcoin trading easier on popular chat apps
like Telegram and social media. With this move, BONK hopes to
improve user participation and accessibility in the cryptocurrency
trading community. Source: Coincodex Related Reading: SHIB Roars As
Shibarium Hits 100 Million Transactions – Big Things Unfolding
Meanwhile, with the predicted bull run in the cryptocurrency market
driving growth through 2024, BONK will be able to effectively
expand its audience. As the community expands, the price of BONK
may eventually hit $0.00095. On the other hand, there is a
significant chance that the BONK meme currency will see a decline
during a liquidity crisis or a market-wide selloff. In the event of
an extremely fast crash, the bears could retest the $0.000010 mark.
Featured image from Shutterstock
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