Solana-based meme coin BONK has been on a mega rally over the previous week gaining one other 12% at this time quickly after itemizing on Korean crypto alternate Upbit. As a consequence, BONK worth has shot up greater than 12%, with its market cap capturing previous $4.2 billion. Also, the every day buying and selling quantity has shot by a large 77% shifting all the way in which previous $2.7 billion exhibiting enormous investor curiosity.
BONK Price Breakout After Upbit Listing
Earlier at this time, South Korea’s largest crypto exchange Upbit introduced the launch of BONK’s Korean Won buying and selling market. The itemizing will considerably increase buying and selling quantity for the meme coin driving BONK worth even greater.
The South Korean alternate additionally introduced that deposits and withdrawals are solely supported by the guided community (BONK-Solana). Also, with Korean crypto traders having a better urge for food for meme cash and altcoins, this growth might bode effectively for your entire BONK neighborhood.
Interestingly, this growth got here at a time when the South Korean crypto exchange is going through a probe over KYC violations. The Financial Intelligence Unit (FIU) has recognized greater than 500,000 cases of insufficient buyer verification by Upbit.
The latest BONK worth surge exhibits a robust 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 does not decelerate? pic.twitter.com/a4cOnb811p
— WebTrend (@WebTrendCo) November 19, 2024
Among the checklist of top meme coins, BONK ranks 4th presently. However, it’d problem the likes of Pepe Coin (PEPE) sooner or later.
BONK Whale Activity Skyrockets
Blockchain analytics platform Lookonchain has revealed important 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 amass 65.4 billion BONK tokens. This alerts the rising confidence within the meme coin’s potential to proceed the BONK worth rally additional.
The good whale who beforehand made $4.84M revenue on $POPCAT is shopping for $BONK!
In the previous 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 worth presently trades at $0.0000559, with a 24-hour excessive and low of $0.00004882 and $0.00005916, respectively. With at this time’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 is dedicated to steady studying and stays motivated by sharing the information he acquires. In his free time, Bhushan enjoys studying thriller fiction novels and infrequently explores his culinary abilities.
Disclaimer: The offered content material might embody the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty on your private monetary loss.
