Solana-based meme coin BONK has continued its meteoric rise, surging another 12% today following its listing on South Korea’s largest cryptocurrency exchange, Upbit. This latest development has propelled BONK’s market capitalization beyond $4.2 billion, while its 24-hour trading volume has skyrocketed by 77% to surpass $2.7 billion.
Upbit Listing Ignites BONK Rally
The listing on Upbit, a major exchange with a significant user base in South Korea, has significantly boosted BONK’s visibility and trading volume. This, coupled with the growing popularity of meme coins among Korean investors, has fueled the recent price surge.
It’s worth noting that Upbit is currently under investigation by South Korea’s Financial Intelligence Unit (FIU) for alleged KYC violations. However, the exchange’s decision to list BONK underscores the increasing interest in meme coins and the potential for significant returns.
Whale Activity Signals Strong Investor Confidence
Blockchain analytics platform Lookonchain has revealed that a notable smart whale, known for its successful investment in the POPCAT meme coin, has recently acquired a substantial amount of BONK tokens. The whale’s investment of 3.4 million USDC into coin highlights the growing confidence in the meme coin’s future potential.
The smart whale who previously made $4.84M profit on $POPCAT is buying $BONK!
— Lookonchain (@lookonchain) November 20, 2024
In the past 2 days, he has spent 3.4M $USDC to buy 65.4B $BONK.https://t.co/Or4O9Xx6TQhttps://t.co/57q50iJD1Zhttps://t.co/HPIpN8u1PZ pic.twitter.com/5lnUCBuEPZ
BONK Price Outlook
Analysts predict that BONK could experience another 100% rally, potentially pushing its market capitalization beyond $10 billion. This would solidify BONK’s position as one of the top meme coins, challenging the dominance of projects like Pepe Coin.
What if BONK doesn't slow down? pic.twitter.com/a4cOnb811p
— WebTrend (@WebTrendCo) November 19, 2024
Key Takeaways:
- BONK price has surged over 12% today following its Upbit listing.
- BONK’s market cap has exceeded $4.2 billion, and its 24-hour trading volume has surged by 77%.
- A prominent whale has invested heavily in coin, signaling strong investor confidence.
- Analysts predict a potential 100% rally for BONK, which could challenge Pepe Coin’s dominance.
As the cryptocurrency market continues to evolve, meme coins like coin have captured the attention of investors worldwide. With its recent surge and strong investor support, BONK is poised to make further gains in the coming weeks and months.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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