As bullish trends continue, several memecoins are seeing significant gains. BONK, a Solana-based (SPL) memecoin, is among the latest to see such positive volatility. Over the last 24 hours, the token has soared by over 60% after getting listed on the popular American cryptocurrency exchange Coinbase.
BONK Up Over 60%
According to the price-tracking website CoinStats, BONK currently trades at $0.00001666. The latest price represents a whopping 61% increase in the last 24 hours alone. It also signifies a 73% uptick over the past week.
Source: CoinStats
The latest price uptrend comes on the same day the token was listed on Coinbase. Less than two hours ago, the leading American crypto exchange officially announced the launch of the Solana-based memecoin on its platform, tagging it with an “experimental label.” This enables users to trade, convert, and store the token in their Coinbase wallets.
Other cryptocurrency exchanges are yet to add support for BONK as Coinbase has done. Still, getting listed on other trading platforms will add to the token’s value as demand surges.
Meanwhile, Coinbase adding support for BONK is not entirely surprising as market analysts have already pointed towards a potential listing. Last week, Cited, a crypto proponent, revealed on-chain evidence suggesting that BONK might soon be getting listed on the U.S.-based exchange.
BONK Flips Several Cryptocurrencies in Market Cap
With its explosive growth, BONK has surpassed several cryptocurrencies in market capitalization. It currently ranks as the 66th largest cryptocurrency by market cap.
The metric positions BONK above the Solana-based project Helium (HNT). It is also above Terra’s Luna Classic LUNC and Bitcoin SV (BSV), a fork of Bitcoin Cash.
Interestingly, BONK’s performance is rubbing off on SOL, the native coin for the Solana ecosystem. In the past 24 hours, the cryptocurrency went up by 6%. The metrics also represent an 11% increase in the past seven days.
