BONK Outpaces Shiba Inu in Trading Volume with Over 40% Price Surge in 24 Hours: CoinMarketCap

Within a mere 24 hours, Bonk (BONK), a dog-themed meme token on the Solana (SOL) network, has witnessed an impressive price surge of over 40%, catapulting it ahead of its competitor, Shiba Inu (SHIB), in daily trading volume.

New data sourced from CoinMarketCap highlights a remarkable 71.8% surge in daily trading volume for Bonk (BONK), a Dogecoin (DOGE) competitor, now totaling around $311 million. In comparison, Shiba Inu has witnessed a 29.6% increase, reaching $232 million in 24-hour trading volume. Additionally, BONK has experienced a notable 58.7% boost in market capitalization, securing its position as the 68th-ranked digital asset.

Recently, prominent US-based crypto exchange Coinbase disclosed its intention to include this red-hot meme coin in its altcoin listing roadmap, signaling potential support in the near future. Coinbase introduced this roadmap in 2022 to enhance transparency and minimize the risk of investors front-running new trading announcements.

Moreover, Bonk has unveiled the BONKBot, enabling users to trade crypto assets via the Telegram social media and chat platform.

Crypto analyst Ali Martinez has issued a cautionary note regarding BONK, suggesting the possibility of a month-long correction for the meme asset due to a recent reversal in a key indicator, signaling a sell signal.

As of the current writing, BONK is trading at $0.000015, marking a 49% increase in the past 24 hours and an impressive rise of over 400% within the last 30 days.

Dec 15, 2023

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