Bonk (BONK) has surged up to now 24 hours, rising by 10.06% and at the moment buying and selling at $0.00003869. The buying and selling quantity elevated by 90.90% to $755.74 million, indicating continued bullish sentiment. BONK price recorded buying and selling lows and highs of $0.00003381 and $0.00003927, respectively. Over the previous week, BONK’s worth has elevated by 53.65%.
BONK Price Gains Momentum from Coinbase Listing
A major issue driving BONK‘s recent price surge is a promotional giveaway announced by the project. Over the next two weeks, the Solana-based memecoin will distribute $10,000 worth of its tokens, split equally among ten users. Participants must share their ‘cards’ on social media to qualify, boosting person engagement. This advertising and marketing technique has considerably elevated BONK’s buying and selling exercise and visibility.
The promotional giveaway has created a buzz on social media, resulting in heightened curiosity in BONK. As extra customers take part, the buying and selling quantity has surged, contributing to the token’s upward worth motion. The giveaway’s success highlights the effectiveness of strategic advertising and marketing within the cryptocurrency market.
Another key growth is Coinbase’s announcement that it’ll listing perpetual future contracts for Shiba Inu, BONK, and Floki Inu. These contracts can be out there on the Coinbase International Exchange and Coinbase Advanced platforms. The memecoin is about to start buying and selling on Coinbase on May thirtieth, signaling sturdy demand from traders and merchants.
The upcoming Coinbase itemizing is a major milestone for the memecoin, enhancing its credibility and accessibility. This growth has fueled bullish sentiment amongst traders, anticipating elevated buying and selling exercise and additional worth appreciation. The itemizing aligns with BONK’s current market momentum, reinforcing its optimistic outlook. Moreover, traders are actively opening new positions, mirrored in a 63.34% enhance in Open Interest (OI).
Bonk Inu Bullish Momentum Remains Strong
Technical indicators additionally help BONK’s bullish outlook. The 24-hour worth chart, seen by means of the Keltner Channel (KC), exhibits the memecoin oscillating close to the higher boundary, indicating sturdy shopping for curiosity. This suggests potential for additional upward motion because the market sentiment stays overwhelmingly optimistic.
Additionally, the Relative Strength Index (RSI) has risen to 72.26, signaling an overbought situation. While this may occasionally usually precede a worth pullback, the present bullish momentum suggests continued power.
Also Read: Bitcoin Price Forecast: BTC Poised To Reclaim $70,000, Rally To $80,000 This Week
The offered content material could embody the non-public 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 accountability to your private monetary loss.
