The price of $BONK has increased by one hundred percent since the news of its listing on Binance.
The "largest meme coin on Solana" had a jump of more than one hundred percent in the past twenty-four hours following the announcement made by Binance, the largest cryptocurrency exchange in the world, that it would be launching Bonk Inu on its platform.
In the single day that followed the news of the listing, the price of BONK skyrocketed from $0.000014 to almost $0.00003203, representing a rise of 103.9%. Over the past 14 days, the meme currency has witnessed a gain of 629%, which is much more than the increases it has received in prior weeks.
As a result of all of these percentages, BONK is the top-100 cryptocurrency that has performed the best in 2023 and in recent weeks and months. Additionally, the coin may reach new heights in the next months as a result of future listings.
Prediction of the price of Bonk, the most popular meme coin, which continues to reach new all-time highs — Is it Possible for BONK to Reach $1?
Bonk's indicators are now over the roof, which is a clear signal that the meme coin is currently in the middle of the bullish growth period. It is hardly unnecessary to mention that this is the case.
The 30-day average (yellow) is currently climbing at a rapid pace, surpassing the 200-day average (blue). This indicates that the shorter term indicator has already surpassed its longer term counterpart, which occurred at the beginning of November.
At the same time, the relative strength index (RSI) for BONK is getting close to 90, which is not only an indication of strong purchasing pressure but also of the chance that the coin has now entered the zone of being overbought.
The trading volume of BONK, which had dropped to a low of $30 million in November, has now increased to $1.3 billion, which is just as positive as the previous statement.
The launch of the coin on Coinbase is the clear explanation of such a boost in trade, which has resulted in a significant increase in trading activity.
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However, the first stage of the mania phase for BONK has not yet begun. Check the history of the SHIB.
The fact that numerous other major exchanges are likely to follow Coinbase's example in the coming weeks and also list the meme token is what is currently bullish about the token. This is true even though BONK may correct a little bit in the short term.
An example of this would be the fact that BONK has not yet been listed on major platforms like as Kraken, Bitstamp, Gemini, or eToro.
If exchanges of this kind decide to list the meme currency in the future months, there is little question that the price of Bonk will continue to strengthen.
In addition, despite the fact that BONK is a meme token, its utilization inside the Solana ecosystem and its many decentralized applications (dapps) has been increasing over the past few weeks.
