- BONK’s resurgence post-Coinbase announcement, leading to an all-time high.
- The parallel rally of BONK and Solana’s native token, SOL, showcased a notable surge in value and market cap.
The BONK token, a popular Solana-based meme coin that has been witnessing substantial price surges recently, experienced another significant spike following the announcement of its upcoming listing on Coinbase.
Coinbase to List BONK Token on Thursday
Coinbase, one of the prominent cryptocurrency exchanges, declared its intention to list the BONK token, propelling a swift rise in its value Wednesday afternoon. Initially, Coinbase had revealed on Tuesday its plans to list BONK without specifying the exact date.
However, after a brief price surge and subsequent fall on Tuesday, the coin received a renewed boost with Coinbase’s confirmation of its listing on Thursday, tentatively scheduled for 12pm ET, subject to meeting liquidity requirements.
BONK Sees Record High Amid Coinbase Announcement
The announcement by Coinbase triggered a surge in the value of BONK, propelling it to an all-time high price of $0.00001474 late on Wednesday afternoon, as per data from CoinMarketCap. Although the token has slightly receded since then to $0.00001381, it remains up by over 21% within the day.
Coinbase will add support for Bonk (BONK) on the Solana network (SPL token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets 🛡️📞 (@CoinbaseAssets) December 13, 2023
The recent surge in BONK’s value has been remarkable, experiencing a staggering 77% increase over the past week and an extraordinary 736% surge over the last month, according to CoinGecko data.
This surge has propelled BONK to surpass the Ethereum-based FLOKI token, becoming the third-largest “dog-inspired coin” by market cap, trailing behind Dogecoin (DOGE) and Shiba Inu (SHIB), based on Ethereum.
Parallel Surge: BONK Echoes Solana’s Rally
BONK’s meteoric rise aligns with the bullish trend seen in Solana’s native token, SOL. CoinGecko data indicates that SOL has surged by 37% this month, currently trading above $71, marking a remarkable 418% increase from its value a year ago.
The heightened interest in meme-based coins, coupled with Solana’s impressive performance, has led to a substantial surge in the value of BONK, reflecting the growing prominence of both the Solana ecosystem and unconventional tokenomics in the crypto space.
