The Solana-based meme coin BONK surged 12% today after a major listing on a leading cryptocurrency exchange, reaching a new all-time high and attracting investor attention. In the past week, BONK has significantly risen, especially after its listing on the Korean exchange Upbit, with its market capitalization breaking the $4.2 billion mark, and daily trading volume soaring 77% to over $2.7 billion.
Earlier today, Upbit announced the launch of the BONK trading pair with the Korean won, a news that has brought strong price momentum to BONK. Due to the large user base of the exchange, this listing is expected to bring higher trading volume and market liquidity to BONK. Especially in South Korea, investors have a high enthusiasm for meme coins and altcoins, which also indicates that the demand for BONK will continue to rise.
Although the South Korean cryptocurrency market has recently faced regulatory scrutiny due to KYC compliance issues, this has not dampened investor enthusiasm for BONK. Blockchain analysis platform Lookonchain has also noticed whale investors turning to BONK, spending $3.4 million in stablecoin USDC to acquire 6.54 billion BONK tokens, showing increasing confidence in the potential of BONK among investors.
BONK may have further room to rise, with its market capitalization expected to challenge $10 billion. Currently, BONK ranks fourth on the list of top meme coins, but it has the potential to compete with popular tokens like Pepe Coin (PEPE) in the future. The current price of BONK is $0.0000559, with a weekly increase of over 75% between the high and low fluctuations in the last 24 hours, demonstrating strong upward momentum.
Characteristics of MEME coins:
Community-driven: Most MEME coins have active community support, especially on social platforms like Twitter, Reddit, and Telegram. The enthusiasm of the community often drives up the prices of these tokens.
High volatility: MEME coins typically exhibit extremely high volatility, with price increases that can be astonishing, but there are also significant risks involved.
Highly speculative: Although these coins attract a large number of speculators in the cryptocurrency market, their long-term value remains uncertain.
