BONK Meme Coin: Surge Follows Coinbase, Binance, and Listings

BONK (BONK) witnessed an impressive surge of nearly 200% within a week and an astounding 1000% in a month following its listing on major crypto exchanges, including Coinbase and Binance.
Despite the initial excitement surrounding the Solana-based meme coin, a wave of profit-taking activities by traders and whales has led to a correction in BONK's price.

BONK Experiences Sell-off Post-Major Listings

A recent post on Lookonchain dated December 15 suggests that the listing of Bonk on major crypto exchanges triggered a classic "buy the rumor, sell the news" scenario for both traders and whales. Notably, a significant whale sold 52.3 billion BONK tokens, originally valued at $927, pocketing a substantial profit of over $750,000. The whale initially acquired 69 billion BONK when the price was at $0.0000021, subsequently staking the tokens from Oct 30 to Nov 29. As of the latest update, the trader now holds Solana (SOL) worth $362,598 but has divested all BONK tokens.

Additionally, DWF Labs, a market maker, deposited 50 billion BONK worth $1.6 million into Binance.

This trend continued with joining Coinbase and Binance in listing the popular meme coin Bonk. Trading for BONK on began on December 15.

Solana Mobile Sells Out for Free Bonk Airdrop

An interesting development unfolded as individuals rushed to acquire Solana Mobile devices to capitalize on the Bonk airdrop. Solana Mobile reported a complete sell-out of Saga phones in the United States.

Following the recent surge, the Bonk airdrop has now surpassed the value of Solana Mobile. Participants are claiming a 30 million BONK airdrop, currently valued at over $900, after their Solana Mobile purchases.

BONK's price exhibited a remarkable increase of more than 100% in the past 24 hours, with the current trading price at $0.00002903 according to CoinMarketCap. The 24-hour trading volume soared by 538%, reaching $1,840,546,027, indicating a heightened interest among traders.
Disclaimer: The information provided in this article is for educational purposes only and should not be construed as financial advice. It is essential to conduct thorough research and consult with a qualified financial advisor before making any investment decisions in the cryptocurrency market.