Bonk, a cryptocurrency operating on the Solana ecosystem, attracted significant attention in the broader cryptocurrency market on Saturday after experiencing a substantial decline in its price trajectory. The token, initially created as a meme coin, had recently seen remarkable surges, generating bullish sentiments among global market traders and investors. However, the recent price drop has led to speculations about Bonk’s future price trends among market enthusiasts.
Furthermore, the price drop noted by Bonk comes amid a gust of developments witnessed by the token’s community. With its recent listing chronicle, Bonk further embarks on its cryptographic venture, emerging among the top meme coins in the market.
The Solana-backed token propelled further within the broader crypto market recently as Coinbase, a leading crypto exchange, announced the commencement of BONK trading on its platform. The announcement reportedly surfaced on the crypto horizon on Thursday, December 14. In addition, with the announcement gaining traction, the BONK price noted a significant surge on Thursday.
Moreover, apart from its listing on Coinbase, the token was further jacked up by Binance, another eminent crypto exchange. Binance, building support for the token, announced zero-fee trading for BONK on its platform. Following the announcement, the token was integrated into Binance Covert, a trading tool for users on the platform.
Meanwhile, the token also positioned itself among the top meme coins as it advanced further within the market.
Furthermore, the cryptocurrency’s parent token, Solana, also amassed significant attention within markets, surpassing Ethereum in 24-hour DEX volume today.
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As of writing, the Bonk price recorded a substantial jump of 5% in 24 hours, currently trading at $0.0000212. However, the token’s weekly trajectory portrayed an upswing of nearly 70%, after a monthly surge of 1000%.
Despite the decline in its trading volume, it has attained notable traction surpassing the last 24 hours of the top two memecoins Dogecoin and Shiba Inu. Simultaneously, the DOGE price added 17% over the last 30 days, while the SHIB price soared nearly 12% in the same time frame.
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