Solana-Based Meme Coin BONK Surges 10%, Outperforming Top Meme Coins

Solana based meme coin Bonk (BONK) recently jumped 10%, outperforming other popular meme coins among the top 100 cryptocurrencies.

At the time of writing, BONK was up 8% in the last 24 hours, trading at $0.000025. Its market cap stands at $1.77 billion, making it the 52nd largest cryptocurrency, according to CoinMarketCap.

BONK 24-hour price chart | Source: CoinMarketCap

The token’s daily trading volume has also seen a significant increase, doubling to around $350 million. However, BONK remains 44% below its all-time high of $0.000047, reached on March 4.

Bonk gained popularity in 2023, thanks to a surge in meme coins that also boosted Solana. It started out as just another dog-themed meme coin. Bonk has since expanded its utility to include decentralized finance (DeFi) integration. It also collaborates with cross-chain communication protocols, NFT marketplaces, and other crypto ecosystems.

The token is now listed on several major exchanges including Binance, Coinbase, OKX, and Bitstamp.

BONK’s recent surge in value is largely due to the BONK x Helio Pay scavenger hunt in London. The event, organized in collaboration with Moonwalk Fitness, involves finding nine QR codes placed at various iconic locations around the city.

Participants can win 69 million BONK and other prizes like merchandise, beer and food. To enter, participants must find and scan one of nine QR codes and post a photo of themselves or their hand making the BONK sign on social media, tagging @bonk_inu, @helio_pay and @solana.

Traders are optimistic about BONK’s future performance. According to For trader Vlad Hryniv, the 4-hour technical indicators for BONK/USD show bullish trends.

The MACD suggests a possible change in momentum, the RSI is at 60, indicating the potential for further price increases, and the Klinger Oscillator and Awesome Oscillator point to positive momentum.

June 28, crypto.news reported BONK has seen a 26% surge over the previous week, attracting the attention of traders and analysts. With key technical indicators showing bullish signals and price hovering near critical resistance levels, BONK could be on the verge of a significant breakout.

While BONK is gaining ground, other dog-themed cryptocurrencies such as Dogewhifhat (WIF) and Dogecoin (DOGE) have seen respective declines of 2.37% and 2.7% over the past 24 hours. Shiba Inu (SHIB) has also fallen by 1.36% over the same period.

The overall cryptocurrency market is experiencing a slight slowdown, with the market capitalization down 1% to $2.31 trillion.

Bitcoin, the leading cryptocurrency by market capitalization, has also fallen 1% in the past 24 hours and is currently trading at $62,581.

Fuente