In an surprising flip of occasions, the Solana-based memecoin Bonk (BONK) has skilled a rare 1,000% month-to-month surge following its current listings on main cryptocurrency exchanges.
The momentum started with Coinbase’s itemizing, adopted intently by Binance’s shock announcement, propelling BONK to new heights and producing enthusiasm inside the crypto group.
Astounding 1,000% Surge On Binance And Coinbase Listings
The itemizing on Binance proved to be a game-changer for BONK, as its value skyrocketed above $0.00003, marking an astounding improve of over 1,000% in only one month. The frenzy surrounding the memecoin turned evident when a dealer offered 52.3 billion BONK tokens, equal to roughly $927,000, and realized a staggering revenue of round $784,000.
In accordance to Lookonchain, this dealer had bought 69 billion BONK at a value of roughly $0.0000021 and staked them from October 30 to November 29, reaping substantial returns from the meteoric rise of BONK.
Past the value surge, one other noteworthy growth has captured the eye of traders. The Solana group has witnessed a surge within the gross sales of Solana telephones, pushed by the current value hike of Solana’s memecoin.
Raj Gokal, the co-founder of Solana, shared in a December 15 put up on X that Solana telephone gross sales have elevated by over 10 occasions inside the previous 48 hours and at the moment are projected to promote out earlier than the brand new 12 months. Gokal said:
Simply so everyone seems to be conscious, Solana cellular saga gross sales have >10x’d prior to now 48 hours, and at the moment are on monitor to promote out earlier than the brand new 12 months.
Furthermore, Richard Wu, co-founder of Tensor, Solana’s non-fungible token market, expressed his astonishment, stating: “That is loopy. BONK saved Solana on Christmas 2022. BONK is saving the Solana Saga Telephone on Christmas 2023.”
Wu emphasised that, in contrast to different canine cash, Bonk has emerged because the savior of Solana, a battle-tested high-throughput Layer 1 blockchain. He additional added, “It’s not only a meme anymore. That is faith.”
BONK Memecoin’s Spectacular Surge Paired With Solana’s Development
Based mostly on the 1-hour chart for BONK, the memecoin has persistently reached new highs because the begin of the present bull run on November 8.
Notably, the token has surpassed vital shifting averages, together with the 200-day and 50-day MA. This can be a constructive indicator of the token’s potential, as there are presently no seen resistance ranges until a correction happens.
It’s value noting that SOL has skilled a outstanding 443% uptrend year-to-date, together with vital ecosystem progress in current months. This, mixed with the continuing memecoin frenzy, means that there could also be no limits or boundaries for BONK’s upward trajectory.
Following the announcement of Binance’s itemizing, the token skilled a surge of 121%, which has been additional complemented by positive aspects noticed prior to now 24 hours. Nonetheless, BONK’s present value stands at $0.00002888, representing a shortfall of over 30% from its current highs.
The extent of BONK’s potential and the long run patterns it is going to exhibit in its numerous time frames stay to be seen. These developments will present additional insights into the token’s future progress potential or doable corrections. Nonetheless, the general outlook for BONK seems promising for traders.
Featured picture from Shutterstock, chart from TradingView.com
Disclaimer: The article is offered for instructional functions solely. It doesn’t signify the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You’re suggested to conduct your individual analysis earlier than making any funding choices. Use data offered on this web site solely at your individual threat.
