Solana's Memecoin BONK Skyrockets 648% Reaching New Heights

• Solana-Based Memecoin BONK Soars Following Coinbase Listing Announcement
• Coinbase to List BONK
• Will BONK Outshine DOGE and Shiba Inu?
• Positioning BONK as the New Memecoin Leader

Solana-Based Memecoin BONK Soars Following Coinbase Listing Announcement

The Solana$104 5.03% (SOL) powered memecoin, BONK, reached a record high following an announcement from the renowned cryptocurrency exchange, Coinbase, regarding its upcoming listing. BONK displayed a significant surge of 41.3% on the daily charts and a 78.7% rise over the past week. Furthermore, the memecoin experienced an impressive rally of over 648% in the preceding month. The SOL-backed memecoin obtained a peak of $0.00001464 on December 9, 2023, followed by a slight dip of 5.30%. Regardless, the token appears to be preparing for a new peak in the imminent days.

Coinbase to List BONK

Coinbase declared its plan to feature BONK on its platform on Tuesday, though the specifics of the timeline were not provided. Post-announcement, a brief rally was seen, followed by an 11% dip the very next day. However, the exchange soon declared the commencement of trading for BONK, a SOL memecoin, on December 14, 2023, at or after 9 AM PT, providing the asset satisfies liquidity conditions.

Trading is set to start on or after 9AM PT, December 14, 2023, if liquidity conditions are fulfilled. The launch of BONK-USD trading pairs will be conducted in phases once sufficient supply is secured. Note that support for BONK may be limited in some supported jurisdictions.

Will BONK Outshine DOGE and Shiba Inu?

Dogecoin$0.091 -0.42% (DOGE) and Shiba Inu$0.000010 -2.05% (SHIB) are currently the leading memecoins and dog-themed cryptocurrencies. BONK, the latest addition to the dogcoin and memecoin family, has made a significant impact in the cryptocurrency arena. Adding to its appeal, the token's parent chain, SOL, is one of the top-performing cryptocurrencies of 2023. Since the start of the year, SOL has seen an over 600% increase, surpassing notable cryptocurrencies such as Bitcoin$42,260 -0.64% (BTC) and Ethereum$2,315 -2.42% (ETH).

Positioning BONK as the New Memecoin Leader

Considering its recent rise in popularity and its listing on Coinbase, BONK has the potential to rise as the new king of memecoins. Pepe (PEPE$0.0000014 -0.24%) was the previous significant memecoin to cause a stir in the crypto world earlier this year, and BONK might take the limelight in 2024. As the market gears up for a potential bull run in 2024, the new dogcoin could be at the forefront of major events in the cryptocurrency market.

Edited by Jonathan Stoker