The Solana-based meme coin BONK has seen a significant surge in its price and market cap over the past week, gaining 12% today alone after listing on Korean crypto exchange Upbit. This has propelled the BONK price to increase by more than 12%, with the market cap exceeding $4.2 billion. The daily trading volume has also spiked by 77%, surpassing $2.7 billion, indicating a strong investor interest in the token.
The listing of BONK on Upbit’s Korean Won trading market is expected to further boost trading volume and drive the price of the meme coin higher. With Korean investors showing a preference for meme coins and altcoins, this development could be beneficial for the entire BONK community. Despite facing a probe over KYC violations, Upbit’s decision to list BONK seems to have had a positive impact on the token’s performance.
BONK currently ranks 4th among the top meme coins, but analysts predict that it could challenge coins like Pepe Coin in the future. The recent whale activity in BONK has caught the attention of many investors, with a smart whale spending 3.4 million USDC stablecoin to acquire 65.4 billion BONK tokens. This move reflects growing confidence in the meme coin’s potential to continue its price rally.
At present, BONK is trading at $0.0000559, with a 24-hour high and low of $0.00004882 and $0.00005916, respectively. Following today’s rally, BONK has extended its weekly gains to over 75%, outperforming other meme coins like Pepe. The token’s trading activity has surged to eight-month highs, indicating a strong bullish momentum in the market.
Overall, the listing of BONK on Upbit and the subsequent price rally have generated significant excitement among investors. With the whale activity and growing market interest, BONK’s future outlook seems promising. As the meme coin continues to gain traction, it could potentially challenge other top-ranking meme coins and establish itself as a key player in the crypto market. Investors should keep a close eye on BONK’s performance in the coming days to capitalize on potential opportunities.
