Solana’s BONK Token Rockets To New Heights, Surging 121% On Binance Listing News
In an sudden flip of occasions, the Solana-based memecoin Bonk (BONK) has skilled a unprecedented 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 listing on Binance proved to be a game-changer for BONK, as its worth skyrocketed above $0.00003, marking an astounding improve of over 1,000% in only one month. The frenzy surrounding the memecoin grew to become evident when a dealer bought 52.3 billion BONK tokens, equal to roughly $927,000, and realized a staggering revenue of round $784,000.
According to Lookonchain, this dealer had bought 69 billion BONK at a worth 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 improvement has captured the eye of traders. The Solana group has witnessed a surge within the gross sales of Solana telephones, pushed by the current worth hike of Solana’s memecoin.
Raj Gokal, the co-founder of Solana, shared in a December 15 post on X that Solana cellphone gross sales have elevated by over 10 occasions inside the previous 48 hours and are actually 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 up to now 48 hours, and are actually 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, not like 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 Progress
Primarily based on the 1-hour chart for BONK, the memecoin has constantly reached new highs for the reason that 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 optimistic indicator of the token’s potential, as there are at present no seen resistance ranges except a correction happens.
It’s price noting that SOL has skilled a exceptional 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 factors noticed up to now 24 hours. Nonetheless, BONK’s present worth 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’s 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
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