Bonk is a dog-themed memecoin on the Solana blockchain and is currently the third-largest memecoin by market cap.
In the past month, Bonk prices have skyrocketed 1,200%.
BONK is currently ranked third among meme coins, behind Dogecoin and Shiba Inu.
The Solana blockchain has witnessed the meteoric rise of dog-themed meme coin Bonk, which has quickly become the third-largest meme coin by market cap. According to recent data from Coingecko, Bonk’s market cap has surpassed that of its competitor Pepe, marking an impressive milestone in the world of meme coins.
Binance, the world’s largest cryptocurrency exchange, announced that it will list Bonk Inu on its platform after the “biggest meme token on Solana” surged more than 100% in the past 24 hours.
Following the listing announcement, BONK surged from $0.000014 to over $0.00003033, a 101.9% increase in a single day. Meme coin has seen even greater gains in recent weeks, up 629% in the past 14 days.
In its official announcement, Binance said it will open spot trading of BONK against Tether (USDT), Binance USD (BUSD), and Turkish Lira (TRY) at 08:00 UTC on December 15, 2023. Withdrawals will be available a day later, on December 16.
Binance also revealed that it will add BONK as a borrowable asset on its isolated margin trading platform within 48 hours of listing. This will introduce a new BONK/USDT margin pair. The exchange reminded users that as a relatively new token, BONK may exhibit higher volatility and risk compared to more established cryptocurrencies. It uses a “seed tag” to designate BONK as an innovative but speculative project.
Will BONK overthrow Shiba Inu?
The recent price surge came after BONK launched one-sided staking on December 1. The meme token was also listed on Coinbase and sparked a 50% single-day surge on December 14.
Despite its recent meteoric rise, memecoins still face stiff competition from top memecoins like Dogecoin and Shiba Inu, which have much larger market caps. At press time, BONK’s market cap is $1.7 billion, while SHIB’s is $5.8 billion.
The token is now listed on two of the largest cryptocurrency exchanges, Coinbase and Binance, which seems to be expected to increase awareness and liquidity inflows. However, for now, the goal of overthrowing Shiba Inu seems far away.
Solana-based meme coin Bonk (BONK) has reached new all-time highs, up 750% over the past 30 days. BONK hit a new all-time high of $0.00001549 today as bulls take advantage of strong positive market sentiment and major exchange listings.
BONK has gained around 60% in the past 24 hours after top cryptocurrency exchange Coinbase announced that it will be listing the cryptocurrency. In a tweet, Coinbase announced that it will be adding support for Bonk (BONK) on the Solana network (SPL token).
In similar news, South Korean cryptocurrency exchange Coinone announced the listing of BONK through the BONK/KRW currency pair, and began deposits at 10:00 a.m. on December 14 (Korean time), and spot trading at 5:00 p.m. on December 14 (Korean time).
As of writing, BONK is up 48.29% in the past 24 hours to $0.00001492, reversing nearly all of last week’s losses.
BONK has seen a 66.60% price increase in the past 7 days. With a circulation of 61 trillion BONK, the market cap of Bonk is $931,186,088, ranking it the 70th cryptocurrency.
Strong interest in the Solana ecosystem appears to have fueled the token’s growth since October. Although Bonk was launched as a parody coin, it quickly gained traction within the Solana ecosystem. Soon after its debut, several Solana projects used the token as payment for non-fungible tokens (NFTs), among other use cases.
BONK’s Rapid Growth: Bonk Inu’s (BONK) price has risen 1,200% in a month, with a market cap of over $1.7 billion, which may be related to its connection with high-performing company Solana (SOL).
Coinbase Listing: Coinbase’s inclusion of BONK in its roadmap and subsequent listing on the platform could help its market surge.
Binance’s support and warnings: Binance lists BONK and offers a variety of trading options, but warns about its high risk and potential volatility.
