Solana-based meme coin BONK has surged over the past week, rising another 12% today shortly after being listed on South Korean cryptocurrency exchange Upbit. As a result, BONK’s price has risen by more than 12%, with its market cap topping $4.2 billion. Additionally, daily trading volume has surged by 77%, all the way to over $2.7 billion, showing huge investor interest.

BONK price breaks through after Upbit listing

Earlier today, South Korea’s largest cryptocurrency exchange Upbit announced the launch of the BONK Korean Won trading market. The listing will significantly increase the trading volume of the meme coin, further pushing up the price of BONK.

The South Korean exchange also announced that it will only support deposits and withdrawals through the Bootstrap Network (BONK-Solana). Moreover, due to the growing interest in meme coins and altcoins among South Korean crypto investors, this development could be a good sign for the entire BONK community.

Interestingly, this development comes at a time when South Korean cryptocurrency exchanges are facing investigations for KYC violations. The Financial Intelligence Unit (FIU) found that Upbit had over 500,000 instances of inadequate customer verification.

BONK has recently surged in price, strongly breaking through its previous highs. Analysts predict that BONK will rise another 100% and its market value will exceed $10 billion.

In the list of top meme coins, BONK is currently ranked 4th. However, in the future it may challenge the likes of Pepe Coin (PEPE).

BONK Whale activity surges

Blockchain analytics platform Lookonchain revealed significant activity from a well-known “smart whale.” The company noted that a smart investor who previously made a whopping $4.84 million from POPCAT has now turned his attention to BONK.

Over the past two days, the whale spent $3.4 million in stablecoin USDC to acquire 65.4 billion BONK tokens, indicating growing confidence in the meme token’s potential to continue driving BONK’s price higher.

BONK price is currently trading at $0.0000559, with a 24-hour high and low of $0.00004882 and $0.00005916 respectively. With today's gains, BONK has extended its weekly gains to over 75%. It rivals Pepecoin's 53% weekly gain as its trading activity surges to an eight-month high.