Why BONK Keeps On Rising, Price Explodes 124% Today – Here’s The Scoop

Christian Encila

1 year ago

3 mins read

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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.

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

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

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.