Bonk (BONK) Becomes Third Largest Memecoin at $762M

November 27, 2023 Image Credit: Bonk Instagram December 12, 2023

Market Standings

Bonk (BONK) is now the third-largest memecoin with a market capitalization of $762 million, surpassing competitors like Pepe. Image Credit: Bonk Instagram

Surge in Value

Experiencing an impressive 370% growth in the last month, Bonk's value rose from $0.0000028 to $0.000012 on December 8th. Image Credit: Bonk Instagram

Outpacing Competitors

Bonk's surge outpaced Shiba Inu (SHIB) and Dogecoin (DOGE), which saw gains of 20% and 35%, respectively. Image Credit: Bonk Instagram

Market Position

Currently, Bonk ranks third among memecoins, trailing Dogecoin and Shiba Inu with market caps of $6 billion and $14.4 billion, respectively. Image Credit: Bonk Instagram

Factors for Gains

Bonk's rise is attributed to listings on major exchanges like Binance and KuCoin, enhancing accessibility for traders. Image Credit: Bonk Instagram

Futures Trading Activity

Increased open interest in Bonk derivatives suggests active trading, contributing to heightened price volatility. Image Credit: Bonk Instagram

Performance Overview

Debuting on December 29, 2022, Bonk gained 3,766% within its first week. Despite a subsequent decline to $0.0000112, it currently stands at $0.00001152. Image Credit: Bonk Instagram More stories...