Why the price of BONK keeps rising, with an explosive growth of 132%In the past 24 hours, the price of BONK has experienced a staggering 98% increase as cryptocurrency exchange Coinbase announced that it will list the cryptocurrency. BONK reached an all-time high of $0.000029 today as optimistic investors took advantage of strong market sentiment and major exchange listings. This comes a day after BONK reached this milestone.Solid Numbers BONK RecordsThe Solana-based meme currency has reached a key milestone in its upward trajectory, posting a staggering 750% growth in the past 30 days.Notably, BONK’s recent entry into Binance has also been a significant factor in the cryptocurrency’s price rise. Starting on December 17, Binance plans to include memecoin in its orphan margin program, making it a crypto asset that users can borrow against.South Korea-based cryptocurrency exchange Coinone has just announced that it will be adding BONK to its platform. The BONK/KRW trading pair will be available for trading, with deposits starting at 10:00 AM (KST) on December 14 and spot trading starting at 5:00 PM (KST) on the same day. Both events will take place on the same day.Since its launch in December 2022, the price of BONK has skyrocketed; it has soared 7,000% since September 2023, making it the third largest meme currency after Dogecoin (DOGE) and Shiba Inu (SHIB). BONK was initially launched in December 2022.After its initial release, Bonk quickly gained a lot of popularity in the Solana ecosystem. It does this by serving as a method of payment for non-fungible tokens (
NFTs) and finding a variety of uses.This coin is no jokeDespite initially launching as a copycat token, the currency has experienced significant growth since October due to strong interest in the Solana ecosystem.There are currently 61 million BONK in circulation, and the coin’s market capitalization is currently $931,186. This represents a massive price improvement of 66.60% over the past seven days.On a related note, BONK has released a new software called BONKBot. This app simplifies the process of trading Bitcoin on major chat apps and social media like Telegram.By taking this initiative, BONK intends to increase user accessibility and engagement within the Bitcoin trading community.At the same time, BONK will be able to successfully expand its audience thanks to the anticipated bull run in the cryptocurrency market, which is expected to drive growth until 2024.On the other hand, in the event of a liquidity crisis or sell-off across the market, the value of the BONK meme currency could drop significantly. If there is a particularly rapid decline, the bears may try to retest the $0.000010 level.
