11 months ago
In an unexpected crook of events, the Solana-based memecoin Bonk (BONK) has experienced an bonzer 1,000% monthly surge pursuing its caller listings connected large cryptocurrency exchanges.
The momentum began with Coinbase’s listing, followed intimately by Binance’s astonishment announcement, propelling BONK to caller heights and generating enthusiasm wrong the crypto community.
Astounding 1,000% Surge On Binance And Coinbase Listings
The listing connected Binance proved to beryllium a game-changer for BONK, arsenic its terms skyrocketed supra $0.00003, marking an astounding summation of implicit 1,000% successful conscionable 1 month. The frenzy surrounding the memecoin became evident erstwhile a trader sold 52.3 cardinal BONK tokens, equivalent to astir $927,000, and realized a staggering nett of astir $784,000.
According to Lookonchain, this trader had purchased 69 cardinal BONK astatine a terms of astir $0.0000021 and staked them from October 30 to November 29, reaping important returns from the meteoric emergence of BONK.
Beyond the terms surge, different noteworthy improvement has captured the attraction of investors. The Solana community has witnessed a surge successful the income of Solana phones, driven by the caller terms hike of Solana’s memecoin.
Raj Gokal, the co-founder of Solana, shared successful a December 15 post on X that Solana telephone income person accrued by implicit 10 times wrong the past 48 hours and are present projected to merchantability retired earlier the caller year. Gokal stated:
Just truthful everyone is aware, Solana mobile saga income person >10x’d successful the past 48 hours, and are present connected way to merchantability retired earlier the caller year.
Moreover, Richard Wu, co-founder of Tensor, Solana’s non-fungible token marketplace, expressed his astonishment, stating: “This is crazy. BONK saved Solana connected Christmas 2022. BONK is redeeming the Solana Saga Phone connected Christmas 2023.”
Wu emphasized that, dissimilar different canine coins, Bonk has emerged arsenic the savior of Solana, a battle-tested high-throughput Layer 1 blockchain. He further added, “It’s not conscionable a meme anymore. This is religion.”
BONK Memecoin’s Impressive Surge Paired With Solana’s Growth
Based connected the 1-hour illustration for BONK, the memecoin has consistently reached caller highs since the commencement of the existent bull tally connected November 8.
Notably, the token has surpassed important moving averages, including the 200-day and 50-day MA. This is simply a affirmative indicator of the token’s potential, arsenic determination are presently nary disposable absorption levels unless a correction occurs.
It is worthy noting that SOL has experienced a remarkable 443% uptrend year-to-date, on with important ecosystem maturation successful caller months. This, combined with the ongoing memecoin frenzy, suggests that determination whitethorn beryllium nary limits oregon boundaries for BONK’s upward trajectory.
Following the announcement of Binance’s listing, the token experienced a surge of 121%, which has been further complemented by gains observed successful the past 24 hours. However, BONK’s existent terms stands astatine $0.00002888, representing a shortfall of implicit 30% from its caller highs.
The grade of BONK’s imaginable and the aboriginal patterns it volition grounds successful its assorted clip frames stay to beryllium seen. These developments volition supply further insights into the token’s aboriginal maturation imaginable oregon imaginable corrections. However, the wide outlook for BONK appears promising for investors.
Featured representation from Shutterstock, illustration from TradingView.com
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