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Solana Memecoins WIF And BONK Explode By Double Digits: Key Reasons

Two Solana-based memecoins, Bonk (BONK) and Dogwifhat (WIF), have registered substantial gains over the past 24 hours. BONK recorded a 35% increase, while WIF climbed by 19%, positioning them among the top three gainers in the top 100 cryptocurrencies by market cap today. Only Hedera Hashgraph (HBAR) surpassed them, with a notable 44% rise during the same period.

Resolution Of Solana’s Congestion Issues Spurs Memecoins

The significant uptick in these Solana memecoins is closely linked to the recent improvements in the Solana network’s performance. A tweet from SolanaFloor earlier today indicated, “BREAKING: Solana’s congestion issues have been completely resolved, with block production back to normal. Transactions confirming in under 2 seconds.” This announcement marks a pivotal moment for the network which had been plagued by congestion issues.

On April 15, Solana developers rolled out crucial updates designed to alleviate these problems, urging validators to adopt version v1.17.31. This version introduces changes in the treatment of validators based on their stakes. Further enhancements are anticipated with the release of version v1.18 next month, which will include a new scheduler, albeit disabled by default.

Andrew Kang, founder of Mechanism Capital, remarked a few days before the fix, “Let’s also not forget that the Solana congestion issues have weighed down SOL and Solana-based memecoins significantly. It’s not a question of if but when the network is significantly improved. That’s your springboard.” Kang’s comments now seem prophetic as the resolution of network issues has indeed acted as a springboard for memecoin valuations.

Specifics On Rally Of Dogwifhat (WIF) And BONK

The price of WIF soared to a 24-hour high of $3.43 on April 24, buoyed by an impressive 96% increase in trading volume. This influx was fueled by notable acquisitions from whales like Ansem, who capitalized on the positive market sentiments.

The breakout above the resistance level at $3.18, after a week of sideways trading between $1.97 and $3.18, was a significant trigger. WIF formed a two-week-long ascending triangle, a bullish chart pattern that indicated a continuation of the previous upward trend. The breakout was widely discussed in the crypto community, with trader Bluntz Capital confirming the pattern’s resolution and sparking further bullish sentiment.

BONK is registering a dramatic 35% rise, with a remarkable 304% increase in trading volume. The price action successfully breached the 0.236 Fibonacci retracement level at $0.000020727, and continued its upward trajectory to the 0.5 Fibonacci level, signaling strong buying interest and bullish momentum.

This rally probably gained additional support from the recent listing of BONK by the global neobank Revolut, which was announced on April 22. This inclusion in Revolut’s trading platform, which features over 150 digital currencies, provided significant exposure and legitimacy, further enhancing investor interest and market activity around BONK.

BONK price

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FLOKI And BONK Drop 5% After Revolut Listing Announcement

FLOKI and BONK had remarkable growth over the weekend after recovering from the Bitcoin dip at the end of last week. These tokens have been some of the hottest topics during this bull run, with FLOKI and BONK increasing by over 500% and 87%, respectively.

Recently, both memecoins were listed on the European neo bank and retail platform Revolut, but the news didn’t appear to have a massive impact on the tokens. However, the projects’ most recent announcements have seemingly made them soar in the past hour.

FLOKI And BONK To Take Over Europe

The projects announced their listing on Revolut on Monday. The new listing expands the reach of FLOKI and BONK to a broader audience, as the platform is available to 40 million users in over 150 countries.

Moreover, the listing will allow users to buy the tokens with 25 fiat currencies, including EUR, GBP, and USD, directly from the Revolut app. Per the BONK X post, users in Europe and eligible countries will also have access to a Learn and Earn program starting on April 29.

Crypto trader Altcoin Gordon weighed in on the matter, telling his 458,000 followers that the listing was “pretty BIG.” According to Gordon, it will allow the tokens to compete with Dogecoin (DOGE), Dogwifhat (WIF), PEPE, and Shiba Inu (SHIB).

Despite the announcement, the tokens performed modestly after the news. FLOKI’s price increased 2% in the following hour, trading at $0.0001778. Nonetheless, the token dropped 5.3% hours later to trade at $0.0001693.

Meanwhile, Bonk’s price increased by 3.7%, trading at $0.0002069 before facing a 3.4% dip to the $0.0001990 level.

Similarly, both tokens have seen a decrease in daily activity in the past 24 hours. FLOKI’s daily trading volume fell a staggering 31.6%, while BONK’s trading volume dropped over 51%.

New Announcements Boost Prices

On Tuesday morning, FLOKI was trading at $0.0001727, representing a modest 0.4% gain from the token’s price 24 hours prior. On the other hand, BONK traded for $0.00002019, a 2.6% price decrease from the day before.

However, the project’s most recent announcements have positively impacted the tokens’ prices. FLOKI announced that the decentralized platform Alltoscan locked $18 million worth of $ATS for 15 months using the project’s crypto locker protocol, FlokiFi Locker.

The news appears to have been well-received by the community. Seemingly fueled by the positive sentiment, the token rose 5.5% in the last hour. Similarly, FLOKI now surged 11.2% from 24 hours ago.

Meanwhile, BONK announced renowned artist JT Liss as “The Dog’s Director for BONK Art Masters.” JT is set to lead Bonk’s BAM residency program and the Creator Grants program “to help provide more opportunities for artists in the Solana ecosystem.”

Following this news, the token increased by 4.3% in an hour and over 5.6% from its price 24 hours ago. At the time of writing, BONK is trading at $0.00002164.

FLOKI, FLOKIUSDT, crypto, memecoins, BONK

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Solana’s Memecoin BONK Reaches $1.6 Billion Market Cap, Witnesses Explosive 100% Price Rally

Solana (SOL) has reached a new 22-month high, demonstrating a remarkable 28% uptrend over the past month. However, the Solana-based meme coin, Bonk Inu (BONK), has captured investors’ attention with its explosive performance last month. 

Bonk Inu Outperforms PEPE

According to CoinGecko data, BONK has achieved a staggering 102% price uptrend in the last 7 days and an impressive 103% increase in the past month, reaching a trading price of $0.00002510 and attaining a 3-month high. 

In addition, the meme coin has experienced significant growth in market capitalization, reaching $1.6 billion and surpassing renowned tokens such as Pepe Coin (PEPE) to secure the 66th position among all cryptocurrencies, highlighting the growing interest in BONK as the cryptocurrency market experiences a resurgence of bullish sentiment fueled by Bitcoin’s (BTC) price uptrend.

BONK

Accumulating data from blockchain company Lookonchain shows the growing interest in Bonk Inu. In addition to the 50% increase in a single day, one wallet reportedly accumulated 98 billion BONK ($1.54 million) from the centralized crypto exchange (CEX) Binance just before the price increase. 

According to Lookonchain, the SmartMoney wallet currently holds 319.44 billion BONK tokens worth approximately $7 million, enjoying a profit of $2.9 million, which could have further contributed to the price surge in the past 24 hours. 

As of the latest update, the trading volume of Bonk Inu stands at $794,842,219 in the last 24 hours, demonstrating a substantial 74.30% increase compared to the previous day. This surge in trading volume indicates a recent rise in market activity surrounding the meme coin, reflecting growing investor participation and attention.

Potential Pullback Ahead? 

As the token enjoys one of its best trading months since its launch, crypto analyst Altcoin Sherpa expressed positive sentiment towards Bonk Inu, highlighting its potential for further growth. 

Altcoin Sherpa stated that Bonk Inu looks promising due to its relative underperformance compared to other meme coins, coupled with a notable uptrend pattern. The analyst wouldn’t be surprised to see Bonk Inu target previous highs and make further gains, although he suggested that a potential pullback may occur.

As the analyst suggests, the $0.00001940 price level may serve as a crucial support level for the BONK token in the event of a potential pullback or price correction. This level is significant as it would help maintain the current uptrend pattern observed on its daily chart. 

BONK

However, suppose this support level fails to hold. In that case, it’s possible that BONK could see a further price decline towards the $0.00001500 level, which acts as the ultimate support before a potential drop to the $0.00001350 mark, key for the token’s prospects as it represents the last line of defense to prevent a fully formed downtrend in the cryptocurrency’s performance.

On the other hand, when analyzing the BONK/USD 1-W chart, it is important to note that there are no prominent resistance levels. The chart above shows thin lines known as “wicks” above the candlesticks of the token since its launch on December 15th. 

This suggests that no significant obstacles prevent the token from reaching its all-time high of $0.0005487. The ability to maintain its current uptrend or potentially experience renewed bullish sentiment after a pullback will determine whether BONK can surpass this previous high.

Featured image from Shutterstock, chart from TradingView.com

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BONK Price Jumps Over 30% As Robinhood, Revolut Listing Speculations Gain Traction

The crypto world is always buzzing, and this week, it’s the Shiba Inu-inspired BONK, built on the Solana blockchain, making the headlines. Its price has experienced a remarkable jump, exceeding 30% in just the past week, fueled by whispers of potential listings on two major platforms: Revolut and Robinhood.

The Spark That Ignited The Frenzy

Rumors emerged suggesting BONK could soon become available to Revolut’s staggering 38 million user base. The speculation didn’t stop there, with talk of a “Learn and Earn” campaign potentially adding another half a million to the BONK community.

Robinhood Whispers Stir The Pot

Robinhood, synonymous with the meme stock frenzy of 2021, is known for its ability to bring lesser-known assets to the forefront. The mere possibility of BONK finding a home on its platform sent the price hurtling upwards.

Barking At The Moon Or Running With The Pack

Before you grab your leash and join the BONK bonanza, remember this: these are just rumors. Neither Revolut nor Robinhood has confirmed anything, and diving headfirst into unconfirmed news is never a sound investment strategy.

Additionally, memecoins are notorious for their wild price swings. BONK itself experienced a meteoric rise of 4,424% in 2023, followed by a sharp correction. While the potential upside is tempting, be prepared for some serious volatility.

Digging Deeper Into BONK’s Territory

It’s crucial to remember that BONK isn’t just a meme coin riding a rumor wave. It has carved its own niche within the Solana ecosystem. Major exchanges like Binance and Coinbase already offer BONK trading, and it even played a role as an incentive within the Solana Saga smartphone project. This suggests that BONK isn’t simply a flash in the pan, but a project with some established groundwork.

Investment Considerations: Weighing The Risks And Rewards

The potential impact of major platform listings is undeniable. Increased accessibility could significantly boost BONK’s adoption and potentially positively impact the broader Solana ecosystem. However, the lack of confirmation surrounding the rumors and the inherent volatility of meme coins necessitate a cautious approach. Before investing, thorough research and a clear understanding of the risks involved are paramount.

BONK’s recent price surge serves as a reminder of the fast-paced and ever-evolving nature of the crypto world. While the unconfirmed rumors offer a glimpse of potential opportunities, investors need to proceed with caution, remembering that the path to crypto riches is seldom straightforward. Whether BONK will truly “bark its way” to mainstream adoption or retreat to the shadows remains to be seen.

Featured image from Adobe Stock, chart from TradingView

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BONK Stays Alive In Top 100 List With 25% Single-Day Rally – Details

In a surprising turn of events, BONK, the self-proclaimed third biggest Doge-inspired meme coin, has roared back to life, notching an impressive 25% surge in the past 24 hours.

This dramatic price jump catapulted BONK back into the coveted top 100 cryptocurrency rankings, reigniting hope among its investors and sparking curiosity within the wider crypto community.

But what fueled this sudden rally, and can BONK sustain its newfound momentum? Let’s dissect the factors behind this comeback and explore the challenges that lie ahead.

BONK: From Near Extinction To Top 100 Revival

Just days ago, BONK’s future seemed bleak. The meme coin had been on a downward spiral, losing over 20% of its value in the last month and teetering on the edge of falling out of the top 100 list.

However, the winds of fortune shifted dramatically in the last few days, with BONK experiencing a meteoric rise that propelled it back into the cryptocurrency limelight.

Similar to its previous rally, BONK’s resurgence can be partially attributed to a broader market upswing. Bitcoin and Ethereum, the leading cryptocurrencies, saw significant gains, with Bitcoin rising by 4.6% and Ethereum by 3%. This positive sentiment undoubtedly played a role in boosting investor confidence in BONK.

However, internal developments within the BONK ecosystem also contributed to the rally. Recent updates to the BONK protocol, including increased utility for token holders and the launch of new community initiatives, seem to have revitalized interest in the project.

Additionally, BONK’s close association with the Solana blockchain, which itself experienced a 7.4% price increase, might have provided further support.

Technicals Flash Green, But Caution Prevails

From a technical standpoint, BONK’s current position appears promising. The token’s Relative Strength Index (RSI) sits comfortably at around 58, indicating healthy buying pressure. Moreover, trading above its 30-day moving average suggests potential for continued near-term growth.

Nevertheless, seasoned investors know that the world of memecoins is riddled with volatility. BONK’s all-time high of $0.00003416, reached in December 2023, stands a stark reminder of the potential for sharp declines.

Also, the token’s market cap of $641 million pales in comparison to its meme-coin rivals like Dogecoin and Shiba Inu, highlighting the need for wider adoption and sustained community engagement.

The Verdict: A Cautiously Optimistic Outlook

BONK’s recent 25% surge serves as a testament to the meme coin’s resilience and the power of community support. While riding the market wave and internal developments have provided a much-needed boost, the road ahead remains challenging.

Overcoming volatility, establishing itself within the meme-coin landscape, and attracting wider adoption are crucial hurdles that BONK needs to overcome to secure its place in the top 100 – and beyond.

Featured image from Adobe Stock, chart from TradingView

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Crypto Chaos Meets BONK Bliss: 15% Rally Bucks The Trend

In a market dominated by red arrows, one Solana-based meme coin is swimming against the tide. BONK, the self-proclaimed “first Solana dog coin,” has soared a staggering 15% in the past 24 hours, emerging as a beacon of green amidst a sea of plummeting peers.

While Dogecoin and Shiba Inu wallow in double-digit losses, BONK has bucked the downtrend, leaving investors wondering if this canine crusader has the bite to back its bark.

But BONK’s bullish gallop isn’t an isolated thing. This week has seen the meme coin rise 10%, propelling its value to $0.00001363 – a testament to its impressive medium-term momentum.

Positive Forecast For BONK

Analysts predict this positive trajectory to continue, especially if tomorrow’s highly anticipated decision by the US Securities and Exchange Commission (SEC) on Bitcoin ETFs paves the way for a broader market bull run.

In such a scenario, BONK’s potential for disproportionate gains, even eclipsing Shiba Inu’s, is a tantalizing prospect for risk-tolerant investors.

Fueling BONK’s ascent is a potent cocktail of positive factors. Its social engagement has nearly doubled, sparking a buzz that translates into tangible market momentum.

Trading volumes have skyrocketed 130%, reaching a staggering $285 million in the past day – more than twice that of Shiba Inu, showcasing the surging interest from retail investors.

This surge in activity has catapulted BONK’s market cap past $800 million, cementing its place as the 81st largest digital asset, a remarkable feat for a relatively young project.

Further driving BONK’s appeal is its upcoming listing on OKX, a leading global cryptocurrency exchange. This strategic move promises to broaden BONK’s reach and expose it to a wider audience, particularly within the Solana ecosystem.

The potential surge in investor interest this listing could trigger could be a significant catalyst for future price appreciation.

BONK Technical Overview

Technical indicators add to the optimistic picture. BONK currently dances above both the 10-day and 200-day Simple Moving Averages (SMAs), signaling robust buying pressure.

The 20-day Exponential Moving Average (EMA) sits comfortably above the 50-day EMA, reinforcing the upward trend. And for good measure, the Chaikin Money Flow index flashes a bullish $0.20, painting a picture of healthy and sustained buying interest.

However, as with any cryptocurrency, caution is paramount. Meme coins are notorious for their volatility, and BONK’s recent gains are no guarantee of future glory.

Regulatory uncertainties surrounding the SEC’s decision further cloud the outlook. Additionally, BONK’s fortunes remain tied to the overall health of the cryptocurrency market.

Despite these caveats, BONK’s performance stands out like a sore thumb in the current market landscape.

Its technical indicators, combined with its growing social buzz and strategic moves like the OKX listing, present a compelling case for the meme coin’s continued ascent.

Whether BONK dethrones Shiba Inu to become the king of meme coins remains to be seen, but one thing’s for sure – this Solana underdog is barking loud enough to turn heads in the crypto arena.

Featured image from Freepik

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Solana Users Face Mounting Threat As Drainer Attacks Surge, SOL Price Plummets 13%

As the price of Solana (SOL) has skyrocketed by an astounding 722% year-to-date, the network’s rapid growth has attracted both attention and challenges. 

Not only has the native token gained significant value, but the use of Solana-based meme coins such as Bonk Inu (BONK), which has grown over 854% year-to-date, and decentralized applications (dApps) have skyrocketed. Unfortunately, this increased popularity has led to increased attacks against the so-called “Ethereum Killer.”

Malicious Solana dApps Exploited

Web3 security firm Blockaid has recently observed a concerning trend of users falling victim to attacks by Solana-based drainers. 

One notable example is the website lessfeesndgas[.]org, which succeeded in stealing tokens from the Solana Program Library (SPL), which is designed to support the creation and management of tokens on Solana and SOL worth hundreds of thousands of dollars.

Interestingly, according to the company’s post on X (formerly Twitter), Blockaid’s secure wallets remained immune to these attacks from the moment the site went live, preventing any connections from being made.

Solana

The sophistication of these drainers is noteworthy, according to the firm, as they can fool the simulations used by Solana wallets, causing users to sign malicious transactions unknowingly. Web3 security firm Blockaid further stated:

As Solana continues to gain popularity, drainer groups are increasingly moving towards it, as indicated by the growing number of malicious Solana dApps detected by Blockaid.

Solana’s rapid ascent as a high-performance blockchain platform has drawn admiration and scrutiny. Its ability to process transactions quickly and at a lower cost than Ethereum has positioned it as a strong competitor. 

However, the network’s success has also made it an attractive target for malicious actors seeking to exploit vulnerabilities and capitalize on its growing user base.

Still, this is not the only bad news for Solana in the past few hours, as its native token has been experiencing a continuous sharp drop in price, leading to the belief that its uptrend and bull run may be over despite the possibility of a rebound in the overall crypto market.

Stablecoin Surge And NFT Sales Fail To Prevent SOL’s Price Drop

In just five hours, the price of SOL experienced a significant 13% drop, hitting a low of $85 on Wednesday. This decline occurred despite notable growth in stablecoin transfers, which saw a rise of over 45% this week. 

Solana

Additionally, on Tuesday, SOL surpassed Ethereum in monthly trading volume for non-fungible token (NFT) sales, marking a milestone for the network.

SOL is the fifth-largest cryptocurrency, boasting a market capitalization of $42.6 billion. It holds a $12 billion lead over XRP and trails just behind Binance Coin (BNB) by a mere $6 billion.

The trajectory of SOL’s price remains uncertain as investors await signs of a potential bullish momentum resurgence.

Building a more secure framework for decentralized applications (dApps) could be pivotal in restoring investor confidence and attracting additional capital to the ecosystem, potentially propelling SOL to reclaim its one-year high of $126, previously achieved on December 25.

Solana

Featured image from Shutterstock, chart from TradingView.com 

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Solana Saga Orders Scrapped As $30 Million BONK Token Package Overshadows Device’s Value

Solana (SOL) and its associated meme coin, Bonk (BONK), have witnessed remarkable surges in value, with SOL recording gains of over 71% and Bonk experiencing an astonishing 342% increase over the past 30 days. 

The positive growth within the Solana ecosystem has resulted in a surge in demand for the flagship mobile device, Solana Saga. However, the Solana Mobile team recently addressed challenges in meeting the “overwhelming demand” and explained order cancellations and inventory management issues.

Solana Mobile Faces Inventory Mishap

Over the past month, SOL has seen a significant uptrend, inching closer to the $100 mark, a level not reached since April 2022. Additionally, Bonk has experienced an extraordinary surge reaching a trading value of $0.00001896.

Solana

Given these developments and the social buzz within the blockchain and its mobile device, the Solana Mobile team confirmed that their limited inventory of 20,000 devices worldwide has sold out, with both the US and EU markets experiencing high demand.

According to a recent statement on X (formerly Twitter), in the process of fulfilling orders, the Solana Mobile team encountered an “inventory management issue” with their third-party distributor. This issue resulted in an inaccurate representation of the available inventory.

Consequently, the team was unable to fulfill orders placed after the inventory was depleted. Additionally, orders suspected of suspicious activity, such as excessive device orders or payment risks, were flagged and subsequently canceled. 

According to the announcement, the objective behind these measures is to ensure that as many users as possible can enjoy the Solana Saga mobile device.

Customers affected by the order cancellations have been promptly notified, and they will receive refunds within the coming days. 

Solana’s DEX Volume Overtakes Ethereum And Arbitrum

The Solana ecosystem, together with its native token SOL, has recently achieved significant milestones. Notably, Solana’s 24-hour decentralized exchange (DEX) volume has exceeded that of Ethereum (ETH) and Arbitrum (ARB) combined, surpassing the $2 billion mark. 

Additionally, Solana has emerged as the third-largest altcoin (only behind BNB) by market capitalization. These achievements reflect the growing popularity and success of Solana within the cryptocurrency market.

According to Token Terminal data, SOL’s market cap (circulating) stands at $41.05 billion, reflecting a remarkable increase of 46.98%, flipping XRP’s market cap by over $7 billion.  

The revenue generated has also witnessed substantial growth, with an 80.43% increase to $2.39 million. Furthermore, SOL’s fully diluted market cap has reached $54.31 billion, showcasing a significant rise of 45.60%.

The revenue generated on the Solana platform, when annualized, amounts to an impressive $29.13 million, signifying a substantial increase of 94.75%. 

Examining SOL’s financial ratios, the price-to-fully diluted ratio stands at 796.78x, indicating the market’s high expectations for future growth. However, this ratio has experienced a recent decrease of 19.3%. 

Solana

Featured image from Shutterstock, chart from TradingView.com

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BONK Crashes 31% After A Solid Month – Is the Success Story Ending?

BONK has encountered a challenging period following its recent peak at an all-time high of $0.00003, which occurred just this past Wednesday. Since reaching this pinnacle, the price has undergone a significant decline, plummeting by more than 50%.

This notable downturn has raised concerns within the market, emphasizing the urgency for buyers to re-enter the scene promptly. The next moves by buyers will play a pivotal role in determining the trajectory of BONK’s price action.

BONK: Meme Coin’s Price Rollercoaster Ride

At the time of writing, the meme coin was trading at $0.000018, down 29% in the last 24 hours, and sustained a significant loss of 30.6 in the last seven days, data from Coingecko shows.

Latest BONK data mirrors a substantial price surge, drawing parallels to the remarkable and sometimes notorious ascents witnessed in other meme coins, such as Shiba Inu.

Yet, the chart now reveals the initiation of a descending pattern, with the emergence of red candles signaling a sell-off phase and hinting at the potential conclusion of the BONK narrative.

The evolving chart dynamics raise questions about the sustainability of BONK’s earlier success and introduce an air of uncertainty into its once-bullish trajectory.

This week, Binance announced a notable expansion of BONK trading on its platform by introducing it to Binance Margin. This strategic move followed the earlier listing of BONK on the exchange with three additional pairs, a decision fueled by substantial demand for the meme coin.

The introduction of BONK to Binance Margin fueled speculation within the crypto community, with expectations of a potential price boost for the meme coin. However, the unfolding events took an unexpected turn, diverging from the anticipated trajectory.

Despite initial speculations, the market dynamics surrounding BONK underwent a different outcome, introducing a layer of unpredictability to its trading journey.

As the price approaches the $0.000018 support level once again, the direction that BONK is moving in appears to be bearish. If it starts to decrease, it can soon reach the $0.000014 barrier.

RSI Decline Raises Concerns For BONK

The RSI on the three-day timeframe has been falling rapidly, going from 98 points in early December to 78 points today as the purchasing momentum has faded and the sell volume is increasing. Remaining bullish would be difficult if this kept up.

The chart’s high volatility, which is seen in its large price swings and suggests a struggle between buyers and sellers, is another important component. The market may be losing the sharp rising trend that typified previous rises as the Moving Averages (MAs) begin to flatten out.

According to CoinCodex technical indicators, the current sentiment is bullish despite the depressing numbers for BONK, and the Fear & Greed Index is currently displaying 74 (Greed).

As for the meme coin, the current price projection indicates a decline to the $ 0.000021 level by December 27, 2023, or a loss of 2.39%.

Despite an initially enchanting journey, BONK’s narrative now suggests a fading magic, leaving investors with another dog-themed asset lacking a clear use case.

The coin’s future appears to be navigating a cycle where exuberant explosions are followed by significant corrections, echoing the market’s sobering from speculative fervor.

Featured image from Pixabay

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Solana’s BONK Token Rockets To New Heights, Surging 121% On Binance Listing News

In an unexpected turn of events, the Solana-based memecoin Bonk (BONK) has experienced an extraordinary 1,000% monthly surge following its recent listings on major cryptocurrency exchanges. 

The momentum began with Coinbase’s listing, followed closely by Binance’s surprise announcement, propelling BONK to new heights and generating enthusiasm within the crypto community.

Astounding 1,000% Surge On Binance And Coinbase Listings

The listing on Binance proved to be a game-changer for BONK, as its price skyrocketed above $0.00003, marking an astounding increase of over 1,000% in just one month. The frenzy surrounding the memecoin became evident when a trader sold 52.3 billion BONK tokens, equivalent to approximately $927,000, and realized a staggering profit of around $784,000. 

According to Lookonchain, this trader had purchased 69 billion BONK at a price of approximately $0.0000021 and staked them from October 30 to November 29, reaping substantial returns from the meteoric rise of BONK.

Beyond the price surge, another noteworthy development has captured the attention of investors. The Solana community has witnessed a surge in the sales of Solana phones, driven by the recent price hike of Solana’s memecoin. 

Raj Gokal, the co-founder of Solana, shared in a December 15 post on X that Solana phone sales have increased by over 10 times within the past 48 hours and are now projected to sell out before the new year. Gokal stated:

Just so everyone is aware, Solana mobile saga sales have >10x’d in the past 48 hours, and are now on track to sell out before the new year.

Moreover, Richard Wu, co-founder of Tensor, Solana’s non-fungible token marketplace, expressed his astonishment, stating: “This is crazy. BONK saved Solana on Christmas 2022. BONK is saving the Solana Saga Phone on Christmas 2023.” 

Wu emphasized that, unlike other dog coins, Bonk has emerged as the savior of Solana, a battle-tested high-throughput Layer 1 blockchain. He further added, “It’s not just a meme anymore. This is religion.”

BONK Memecoin’s Impressive Surge Paired With Solana’s Growth

Based on the 1-hour chart for BONK, the memecoin has consistently reached new highs since the start of the current bull run on November 8. 

Notably, the token has surpassed significant moving averages, including the 200-day and 50-day MA. This is a positive indicator of the token’s potential, as there are currently no visible resistance levels unless a correction occurs.

It is worth noting that SOL has experienced a remarkable 443% uptrend year-to-date, along with significant ecosystem growth in recent months. This, combined with the ongoing memecoin frenzy, suggests that there may be no limits or boundaries for BONK’s upward trajectory.

BONK

Following the announcement of Binance’s listing, the token experienced a surge of 121%, which has been further complemented by gains observed in the past 24 hours. However, BONK’s current price stands at $0.00002888, representing a shortfall of over 30% from its recent highs.

The extent of BONK’s potential and the future patterns it will exhibit in its various time frames remain to be seen. These developments will provide further insights into the token’s future growth potential or possible corrections. However, the overall outlook for BONK appears promising for investors.

Featured image from Shutterstock, chart from TradingView.com 

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

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.

 

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.

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.

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.

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

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The BONK Bomb: Solana Meme Coin Gets Extra 200% Boost To Its 7,000% Value Appreciation

The price of some digital assets has reached an all-time high due to the recent growth in the bitcoin market. The unprecedented upswing in the cryptocurrency market has not only been good to tokens of decentralized protocols, but also meme coins like Bonk Inu (BONK). Today marked a new high for the token as its price increased by more than 200% in the weekly timeframe.

Solana’s meme coin Bonk has been on a tremendous bull run for quite some time, with a price increase of over 7,000%, indicating the strengthening of the Solana ecosystem.

BONK Surges: A Crypto Standout

November saw a sharp 1,000 surge in BONK’s value, making it one of the most profitable assets in the cryptocurrency market to date. The general upward trend in the cryptocurrency market in the first part of the month is partially the reason for this growth.

The BONK price has consistently produced large bullish candles since breaking out of the bearish trend it had been in since the start of the year. The majority of meme currencies are not moving very much, but BONK is experiencing high trade frequencies that are causing many bull runs.

Even though there was a slight decline in price, the bulls’ overwhelming domination kept the price above the gains. Considering that the volume has now turned to its advantage, the uptrend should last until the end of the month.

Based on the technical indications, there is no sign that the bullish momentum will abate anytime soon. At the moment, BONK is experiencing a strong positive trend, with its price hitting an exponential high of $0.0000152. Interestingly, the prior high at $0.0000100 has become a level of support.

The 89th position on the Relative Strength Index (RSI) indicates an overbought zone. Extended green histograms on the Moving Average Convergence Divergence (MACD) indicate a strong bullish trend.

BONK’s Ascent Faces Resistance Challenges

BONK will encounter early resistance near its new all-time high of $0.0000133299 if it continues to rise. Above that, the extended Fib -0.236 level at $0.0000156963 and Fib -0.382 at $0.0000171293 are targets for higher moves. Volume is still high, indicating that people are still interested in BONK as it rises.

Meanwhile, some fortunate Solana ecosystem participants stand to gain greatly from the skyrocketing price of the meme coin. Solana gave away $10 worth of BONK tokens when it released its Saga smartphone back in April. Those tokens are now worth over $11,500 because BONK is now over 1,000 times the price since then.

For those who are still holding onto their BONK airdrops, this has already been a transformative experience. Even in the wildest meme coin theories, gains of over a thousand percent are practically unheard of.

Furthermore, given the continued growth of the cryptocurrency industry overall, it is possible that Solana and the meme coin community will continue to surprise us in the future given the persistent enthusiasm and risk-taking behavior.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Shutterstock

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Solana’s BONK Climbs To 3rd Place In Dog Coin Market Cap, Leaving FLOKI Behind

In recent weeks, the Solana (SOL) blockchain has been making waves in the crypto world, with its native token SOL experiencing a remarkable uptrend of 46% over the past 30 days. Alongside this surge, Bonk Inu (BONK), the first Solana-based meme coin, has gained significant traction, solidifying its position as the third-largest dog coin by market capitalization, surpassing Floki Inu (FLOKI).

BONK Rockets To New Heights With 845% Surge In 30 Days

The staggering growth of Bonk Inu is evident in its recent performance, achieving an impressive 845% gain over the past 30 days. The meme coin’s remarkable ascent has propelled it to new yearly highs, while SOL experienced a slight pullback from its peak of $65 on December 2.

Despite the temporary setback for SOL, the bullish momentum and renewed interest in Bonk Inu have caught the attention of market participants. 

As of now, BONK is trading at $0.0000069712, outperforming the broader crypto market with a remarkable 22.4% uptrend in the past 24 hours, aligning with the positive sentiment surrounding Bitcoin (BTC) and the overall market.

BONK

With a market capitalization of approximately $430 million, Bonk Inu currently sits in third place among dog coins, trailing behind the likes of Shiba Inu (SHIB) and Dogecoin (DOGE), which boast market caps of $5 billion and $12 billion, respectively.

CoinGecko data reveals that BONK has witnessed a significant 24-hour trading volume of $65,235,205.16, indicating strong investor interest and active participation in the market.

BONK

The future trajectory of Bonk Inu’s uptrend and its potential for further gains remains uncertain. However, should BONK continue to attract investors, it has the potential to dethrone Pepecoin (PEPE) in terms of market capitalization. As of the latest update, PEPE has achieved a market cap of $592 million.

However, it is important to note that Bonk Inu still has a significant gap to bridge to catch up with the largest dog coins in the market in terms of market capitalization, namely SHIB and DOGE. SHIB and DOGE have demonstrated substantial gains and already possess staggering market capitalizations.

Dog Coins Make Strong Push For Year-End Gains

The altcoin SHIB, built on the Ethereum platform and known for its Shiba Inu mascot, continues to demonstrate consistent gains across various time frames. 

Notably, SHIB has seen a 14% increase over the past fourteen days and an 18% surge over the past thirty days. These positive trends have allowed the dog coin to achieve a slight year-to-date profit of 0.2% after experiencing a significant downturn in 2022.

Presently, SHIB is trading at $0.00000946, representing a decline of more than 89% from its all-time high (ATH) of $0.00008616, reached in October 2021.

Meanwhile, the meme coin DOGE, which has the backing of Elon Musk, is currently trading at $0.09058. It has witnessed an 18% rise over the past fourteen days and nearly 30% growth over the past thirty days, following a sustained upward trend that began on November 21. 

BONK

However, in contrast to SHIB’s price action, DOGE has experienced a 12% decline year-to-date and an 87% drop from its ATH of $0.731578 reached in May 2021.

It remains to be seen whether the dog coins will continue to experience further gains throughout the remainder of the year or if a healthy pullback will occur to surpass upper resistance levels for another upward movement.

Featured image from Shutterstock, chart from TradingView.com 

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Solana’s BONK Crashes 50% In 24 Hours, Is It Time To Get Out?

Solana-based BONK has been all the craze since the start of the new year. The meme coin had risen from obscurity to the largest meme coin on the Solana ecosystem in less than two weeks, recording massive gains for investors during this time. However, the hype seems to have reached its peak and BONK has begun the dreaded downward correction.

BONK Falls 50% In 24 Hours

In the last day, the price of BONK  has rapidly declined, losing more than 50% of its value during this time. It hit its all-time high price of $0.0000049 on Thursday when the hype was at its peak but since then, has fallen to $0.000002.

This was after recording a more than 4,000% return rate in a 10-day period and reaching a market cap of over $200 million. However, as is the case with meme coins, holding on to such gains becomes impossible with no real utility and eventually, the sell-offs dragged its price back down. Being a digital currency driven by purely social sentiment, this was expected to happen, just like it did with predecessors such as Dogecoin and Shiba Inu.

This drawdown in price has also seen the price surge recorded in Solana over the last week slow down significantly. However, while BONK is seeing over 53% losses in the past day, SOL recorded small gains of 0.17%.

BONK price chart from TradingView.com

Is It Time To Sell The Tokens?

With a downturn such as this, BONK could be seeing the start of the end just like Shiba Inu had done in October 2021. As such, it could be wise to get out of the cryptocurrency now if the losses were to continue for the next few days. But it is also important to take into account the growth of the meme coin, as well as the attention it is receiving in the market.

For example, BONK remains one of the most visited pages on Coinmarketcap. It is second only to RichQUACK, another meme coin that has not done well in the last week. What this shows is that there are still a lot of eyes on the cryptocurrency, which could give it a leg up.

Another important tidbit is that BONK transactions had reportedly surpassed that of Ethereum in the last three days, according to data from Dune Analytics. Now, this is only at the peak of the hype and does not mean that the meme coin would be able to sustain such levels but is important to note nonetheless.

BONK transactions

However, it is essential to remember that when a digital asset falls 50%, it would need to see a 100% increase to get back to its previous price, which can be a hard feat to accomplish for a meme coin. In the end, investors should keep in mind that meme coins are more volatile than the average large-cap cryptocurrency.