Meme Coin Bonk Rockets as Potential Coinbase Listing Sends Values Soaring
In a whirlwind of activity within the cryptocurrency realm, Bonk, an initially conceived memecoin operating within the Solana ecosystem, sparked intense speculation on Thursday.
The crypto’s value soared, catching the eye of enthusiasts amid a broader market surge.
This meteoric rise seemed tied to a major announcement by a leading crypto exchange. Notable analysts highlighted Bonk’s impressive growth, causing quite a stir among traders.
Coinbase unveiled plans to enable Bonk (BONK) trading on their platform, starting today, December 14. However, Coinbase cautioned against trading BONK on any platform outside of Solana to prevent potential losses. They’ve labeled BONK as “Experimental” to alert users, initiating trading exclusively for BONK-USD pairs on the Solana network.
Bonk’s current value stands at $0.00001525, marking a whopping 50% surge. Over the past week, it experienced a notable 65% spike and an astounding 681% surge throughout the month.
This surge, particularly in the last 24 hours, was largely attributed to Coinbase’s announcement, coinciding with a significant 45% increase in Bonk’s market cap, now valued at $928 million. However, these recent price movements echo broader market trends.
READ MORE: Trump Unveils Exclusive ‘Mugshot Edition’ NFT Series
Solana, Bonk’s underlying platform, also witnessed a noteworthy surge. Presently, Solana’s price escalated by 9% in the last day, reaching $72.33, with a 14% increase over the past week and a 33% surge over the month.
Notably, a prominent crypto analyst, Coinskid, shed light on Bonk’s staggering 7,000% rise since its last significant buy signal approximately 53 days ago.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
