Bonk surges 107% in the past twenty four hours.
It reached the 69th position in market cap by reaching $1 billion.
In a whirlwind turn of events, the solana based memecoin Bonk Coin has swiftly captivated the crypto town, experiencing an electrifying surge of 107% within a mere 24 hours, soaring to an all time high of $0.00003033. This meteoric ascent has sent shockwaves through the community, igniting discussions about its potential to become the next memecoin sensation.
The fervor surrounding the bonk intensified following the landmark announcement from the eminent exchange Coinbase, declaring its forthcoming listing of the token. The exchange’s proclamation on Wednesday paved the way for the future trading of BONK-USD pairs, albeit with potential restrictions in select supported jurisdictions, awaiting the establishment of a substantial asset supply.
Notably, Bonk coin solidified its meme deity status by scaling the ranks to claim the 69th spot on CoinGecko’s esteemed list of the most valuable cryptocurrencies. The coin’s market cap breached the monumental $1 billion milestone for the very first time, heralding an era of newfound recognition and potential.
What’s Next For Bonk?
The surge in the bonk Coin’s price trajectory finds roots in the introduction of single-sided staking within the project’s framework, coupled with the Coinbase listing as mentioned, setting the stage for a pivotal moment in its journey.
Analysts keenly eye a potential buying opportunity, targeting the ambitious 61.8% Fibonacci extension level at $0.0000219 for BONK, following a breakout past the $0.0000149 mark and a subsequent retest.
In a domain dominated by Dogecoin and Shiba Inu, the emergence of BONK as the latest torchbearer of the memecoin realm has caught the attention of enthusiasts worldwide. Further elevating its potential, the token’s parent chain, Solana (SOL), stands tall among the most high-performing cryptocurrencies in 2023.
However, amidst the optimism, skeptics ponder the fate of this bullish surge—questioning whether it signifies the inception of a monumental breakout for the next colossal crypto, or if it’s merely a fleeting moment in the midst of past 24-hour gains.