Solana-based meme coin BONK has been on a mega rally over the previous week gaining one other 12% as we speak quickly after itemizing on Korean crypto trade Upbit. Consequently, BONK value has shot up greater than 12%, with its market cap capturing previous $4.2 billion. Additionally, the every day buying and selling quantity has shot by an enormous 77% shifting all the best way previous $2.7 billion exhibiting enormous investor curiosity.
BONK Worth Breakout After Upbit Itemizing
Earlier as we speak, South Korea’s largest crypto exchange Upbit introduced the launch of BONK’s Korean Gained buying and selling market. The itemizing will considerably enhance buying and selling quantity for the meme coin driving BONK value even greater.
The South Korean trade additionally introduced that deposits and withdrawals are solely supported by way of the guided community (BONK-Solana). Additionally, with Korean crypto traders having a higher urge for food for meme cash and altcoins, this growth may bode nicely for your complete BONK neighborhood.
Curiously, this growth got here at a time when the South Korean crypto exchange is dealing with a probe over KYC violations. The Monetary Intelligence Unit (FIU) has recognized greater than 500,000 cases of insufficient buyer verification by Upbit.
The latest BONK value surge exhibits a powerful breakout from its earlier highs. Analysts predicts one other 100% rally to take the BONK market cap to greater than $10 billion.
What if BONK would not decelerate? pic.twitter.com/a4cOnb811p
— WebTrend (@WebTrendCo) November 19, 2024
Among the many checklist of top meme coins, BONK ranks 4th at the moment. Nevertheless, it would problem the likes of Pepe Coin (PEPE) sooner or later.
BONK Whale Exercise Skyrockets
Blockchain analytics platform Lookonchain has revealed vital exercise from a well known good whale. It famous {that a} good investor who beforehand earned a staggering $4.84 million revenue from POPCAT, is now turning its consideration to BONK.
Over the previous two days, the whale has spent 3.4 million USDC stablecoin to accumulate 65.4 billion BONK tokens. This alerts the rising confidence within the meme coin’s potential to proceed the BONK value rally additional.
The good whale who beforehand made $4.84M revenue on $POPCAT is shopping for $BONK!
Up to now 2 days, he has spent 3.4M $USDC to purchase 65.4B $BONK.https://t.co/Or4O9Xx6TQhttps://t.co/57q50iJD1Zhttps://t.co/HPIpN8u1PZ pic.twitter.com/5lnUCBuEPZ
— Lookonchain (@lookonchain) November 20, 2024
BONK value at the moment trades at $0.0000559, with a 24-hour excessive and low of $0.00004882 and $0.00005916, respectively. With as we speak’s rally, BONK has already prolonged its weekly positive factors to greater than 75%. It competes with 53% weekly gains by Pepe coin as its buying and selling exercise surged to eight-month highs.
Bhushan Akolkar
Bhushan is a FinTech fanatic with a eager understanding of monetary markets. His curiosity in economics and finance has led him to concentrate on rising Blockchain expertise and cryptocurrency markets. He’s dedicated to steady studying and stays motivated by sharing the data he acquires. In his free time, Bhushan enjoys studying thriller fiction novels and sometimes explores his culinary expertise.
Disclaimer: The introduced content material might embody the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty on your private monetary loss.
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