Solana-based meme coin BONK has experienced a massive 12% surge in price today following its listing on South Korea’s largest crypto exchange, Upbit. This rally marks a continuation of the coin’s impressive performance over the past week, with its market cap now surpassing $4.2 billion. The listing, which included a Korean Won trading market for BONK, has also sparked a significant increase in trading volume, jumping by 77% to over $2.7 billion.
Upbit Listing Drives BONK’s Price Surge
Upbit’s listing of BONK has fueled optimism for the coin’s future growth. With Korean investors known for their enthusiasm for meme coins and altcoins, the new trading market could significantly enhance liquidity and exposure for BONK, further driving its price. Additionally, deposits and withdrawals will be facilitated through the Solana network, streamlining transactions for users in the region.
The timing of the listing coincides with some regulatory challenges for Upbit, as the exchange is under scrutiny for KYC violations, with the Financial Intelligence Unit (FIU) reporting over 500,000 instances of inadequate customer verification. Despite this, BONK’s price has continued to surge, signaling strong market interest.
Analysts Eye $10 Billion Market Cap
With the latest price increase, BONK has seen its market cap soar past $4.2 billion, extending its weekly gains to over 75%. Analysts are predicting a potential 100% rally, which could drive BONK’s market cap to $10 billion, positioning it as one of the largest meme coins in the market.
Currently ranked 4th among meme coins, BONK is gaining momentum and could soon challenge other top contenders like Pepe Coin (PEPE) for a higher spot.
Whale Activity Signals Strong Confidence
Data from blockchain analytics platform Lookonchain highlights growing confidence in BONK’s potential. A notable smart investor, who previously earned nearly $5 million in profit from POPCAT, has recently made significant moves into BONK. Over the past two days, this whale spent 3.4 million USDC to acquire a massive 65.4 billion BONK tokens, a clear indication of confidence in the coin’s future performance.
Current BONK Price and Market Outlook
BONK is currently trading at $0.0000559, with a 24-hour trading range between $0.00004882 and $0.00005916. With today’s rally, the coin has extended its weekly gains to over 75%, far outpacing other meme coins like Pepe Coin, which has gained 53% over the same period. If the bullish momentum continues, BONK may continue its upward trajectory toward a potential $10 billion market cap and beyond.
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