Coin Edition -
- BONK’s price soars over 627% in the last 30 days as bullish momentum holds firm.
- Coinbase (NASDAQ:COIN) listing and the Federal Reserve’s interest rate decision fuel BONK’s surge to an all-time high.
- Solana’s impressive 600% rally in 2023 provides the foundation for BONK’s rise.
Solana‘s native memecoin, BONK, has recently been making headlines with its impressive market performance. In a span of just one month, BONK’s value has skyrocketed by over 627%. This rise follows the announcement of its listing on the crypto exchange Coinbase.
Federal Reserve keeps key interest rate unchanged and foresees 3 rate cuts next year – WIS https://t.co/Sk9l5Q3vs9— FOMC Alerts (@FOMCAlerts) December 14, 2023
Amid BONK’s upsurge, the broader cryptocurrency market also made robust gains following positive news from the latest meeting of the Federal Open Market Committee (FOMC). The Federal Reserve’s decision to maintain interest rates while planning cuts in 2024 provides a conducive environment for riskier assets like cryptocurrencies, with BONK emerging as a significant gainer.
As a result, according to CoinStats, the price of BONK has risen in the previous 24 hours from an intra-day low of $0.00000959 to an all-time high of $0.00001489. The upward momentum continued through press time, when BONK was trading at $0.00001454, a 46.81% increase from the intraday low. In addition, BONK’s market capitalization and 24-hour trading volume increased by 46.55% and 71.31%, respectively, to $881,899,861 and $264,283,418.
BONK/USD 24-hour price chart (source: CoinStats)
Coinbase Listing Propels BONK’s Growth
The announcement by Coinbase, one of the leading platforms in the cryptocurrency exchange domain, has played a crucial role in BONK’s recent success. Following this revelation, the token experienced a notable increase in value. While it did face a brief dip, dropping by 11% shortly after the initial announcement, confirming its trading commencement on Coinbase on December 14, 2023, gave it a substantial boost.
Trading will begin on or after 9AM PT on 14 December 2023, if liquidity conditions are met. Once sufficient supply of this asset is established trading on our BONK-USD trading pairs will launch in phases. Support for BONK may be restricted in some supported jurisdictions.— Coinbase Assets