Cryptocurrency exchange Coinbase's announcement of its decision to list the cryptocurrency has sparked notable 98% increase in BONK price during 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 listings on major exchanges.
BONK Ink Solid Numbers
The Solana-based meme coin has seen an impressive 750% increase over the past 30 days, marking an important milestone in its upward trajectory.
BONK explodes 98% in the last 24 hours. Source: Coingecko
The recent addition of BONK on Binance It has also played a major role in increasing its price. Binance intends to include memecoin as a borrowable crypto asset in its Isolated Margin Program starting December 17.
Additionally, Coinone, a South Korea-based cryptocurrency exchange, recently said it would list BONK on its platform. The BONK/KRW pair will be available for trading, with deposits starting December 14 at 10:00 am (KST) and spot trading opening on the same day at 5:00 pm (KST).
All of these listings are proving to be beneficial for the meme coin price.
BONK 30-day price action. Source: Coingecko
Since its introduction in December 2022, the price of BONK has increased dramatically; has grown 7000% since September 2023, making it the third largest meme coin behind Dogecoin (DOGE) and Shiba Inu (SHIB).
Upon launch, Bonk gained 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 not a 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 price gain of 66.60% over the past seven days.
BONKUSD currently trading at $0.0000261942 territory. Chart: TradingView.com
Given the significant influence of the Solana ecosystem on the rise of Bonk, this places it as the 70th largest cryptocurrency.
In related news, BONK has shared BONKBot, a new software that makes it easier to trade bitcoins 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
Meanwhile, with the expected 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 could reach $0.00095.
On the other hand, there is a strong possibility that the BONK meme coin will experience a crash during a liquidity crisis or a market-wide sell-off. In case of an extremely rapid decline, the bears could retest the $0.000010 mark.
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