bonk Price Increased 15%, Why Is More Rise Coming?
Bonk (BONK) is currently trading at $0.00003869, up 10.06% in the last 24 hours. Trading volume increased by 90.90% to $755.74 million, indicating that the upward trend continues. BONK price Trading lows and highs were recorded at $0.00003381 and $0.00003927 respectively. Last week, BONK’s price increased by 53.65%.
BONK Price Gains Momentum from Coinbase Listing
One of the important factors that triggered BONK’s recent price increase is the promotion announced by the project. solana-based memecoin for the next two weeks It will distribute its $10,000 worth of tokens equally among ten users. To qualify, participants must share their ‘card’ on social media and increase user engagement. This marketing strategy significantly increased BONK’s business activity and visibility.
The promotional draw created a stir on social media, leading to increased interest in BONK. As more users joined, trading volume increased, contributing to the token’s upward price movement. The success of the giveaway highlights the effectiveness of strategic marketing in the cryptocurrency market.
Another important development was Coinbase’s announcement that it will list future permanent contracts for Shiba Inu, BONK and. Floki Inu. These contracts will be available on the Coinbase International Exchange and coinbase Advanced platforms. Memecoin began trading on Coinbase on May 30, signaling strong demand from investors and traders.
The upcoming Coinbase listing is a significant milestone for memecoin, increasing its reliability and accessibility. This development increased the upward trend among investors, who predicted that trading activities would increase and prices would appreciate further. The listings are in line with BONK’s recent market momentum and reinforce its positive outlook. Additionally, investors are actively opening new positions, which is reflected in the 63.34% increase in Open Interest (OI).
Bonk Inu Upside Momentum Remains Strong
Technical indicators also support BONK’s bullish outlook. The 24-hour price chart viewed via the Keltner Channel (KC) shows memecoin oscillating near the upper limit, indicating strong buying interest. This suggests there is potential for further upside as market sentiment remains extremely positive.
Additionally, the Relative Strength Index (RSI) rose to 72.26, indicating an overbought situation. While this often precedes a price pullback, the current bullish momentum suggests continued strength.
So read: Bitcoin Price Prediction: BTC Poised to Reclaim $70,000, Rising to $80,000 This Week
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Maxwell is a crypto-economic analyst and Blockchain enthusiast who is passionate about helping people understand the potential of decentralized technology. I write extensively on topics like blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its effects on economic freedom and social well-being.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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