Solana-based meme coin Bonk (BONK) has not too long ago surged 10%, outperforming different widespread meme cash throughout the prime 100 cryptocurrencies.
On the time of writing, BONK had risen by 8% within the final 24 hours, buying and selling at $0.000025. Its market capitalization stands at $1.77 billion, making it the 52nd largest cryptocurrency, based on CoinMarketCap.
The token’s every day buying and selling quantity has additionally seen a big improve, doubling to round $350 million. Nevertheless, BONK stays 44% beneath its all-time excessive of $0.000047, which was reached on March 4.
Bonk gained reputation in 2023, pushed by a surge in meme cash that additionally boosted Solana. Initially, simply one other dog-themed meme coin, Bonk has since expanded its utility to incorporate decentralized finance (DeFi) integration. It additionally collaborates with cross-chain communication protocols, NFT marketplaces, and different crypto ecosystems.
The token is now listed on a number of main exchanges, together with Binance, Coinbase, OKX, and Bitstamp.
The latest surge in BONK’s worth is essentially because of the BONK x Helio Pay treasure hunt occasion in London. This occasion, organized in collaboration with Moonwalk Health, entails members discovering 9 QR codes positioned at varied iconic places across the metropolis.
Individuals can win 69 million BONK and different prizes like merchandise, beer, and meals. To hitch, people should discover and scan one of many 9 QR codes and submit a photograph of themselves or their hand making the BONK signal on social media, tagging @bonk_inu, @helio_pay, and @solana.
Merchants are optimistic about BONK’s future efficiency. Based on dealer Vlad Hryniv, the 4-hour technical indicators for BONK/USD are displaying bullish traits.
The MACD suggests a potential shift in momentum, the RSI is at 60, indicating the potential for additional worth will increase, and each the Klinger Oscillator and Superior Oscillator level in the direction of optimistic momentum.
On June 28, crypto.information reported a 26% surge in BONK over the prior week, attracting consideration from merchants and analysts. With key technical indicators displaying bullish indicators and costs nearing essential resistance ranges, BONK may very well be on the cusp of a big breakout.
Whereas BONK is gaining floor, different dog-themed meme cash reminiscent of Dogewhifhat (WIF) and Dogecoin (DOGE) have seen declines of two.37% and a pair of.7%, respectively, previously 24 hours. Shiba Inu (SHIB) additionally dropped by 1.36% in the identical interval.
The general cryptocurrency market is experiencing a slight downturn, with a 1% lower in market capitalization to $2.31 trillion.
Bitcoin, the main cryptocurrency by market cap, has additionally dropped by 1% during the last 24 hours and is at present buying and selling at $62,581.
