Remarkably, Solana-based meme coin Bonk (BONK) has jumped by 10%, exceeding other well-known meme coins ranking among the top 100 cryptocurrencies. With trading at $0.000025, BONK has increased by 8% in the last 24 hours, according to most recent figures. With its market value now at $1.77 billion, CoinMarketCap ranks this cryptocurrency as the 52nd biggest among all the cryptocurrencies.
The cryptocurrency’s daily trading volume has likewise doubled to over $350 million. Despite this increase, BONK still stands 44% below its all-time high of $0.000047, which was attained on March 4.
Initially becoming well-known in 2023 amid a larger increase in meme Funds supporting the Solana ecosystem, Bonk, Originally another dog-themed meme coin, has recently evolved to include decentralized finance (DeFi) integration and working with cross-chain communication protocols, NFT markets, and other crypto ecosystems.
Solana-Based BONK Gains Traction With Treasure Hunt Event
Nowadays, several big exchanges including Binance, Coinbase, OKX, and Bitstamp list the token. The BONK x Helio Pay treasure hunt event in London is mostly responsible for BONK’s recent rise in value. For this event, which is being coordinated with Moonwalk Fitness, participants must locate nine QR codes positioned at several famous sites across the city.
Along with additional goodies including food, alcohol, and merchandise, treasure hunt participants can earn 69 million BONK. Those who want to join must locate and scan one of the nine QR codes, then share a picture of themselves or their hand creating the BONK sign on social media tagging @bonk_inu, @helio_pay, and @solana.
The future performance of BONK excites traders. Trader Vlad Hryniv claims that the 4-hour technical indicators for BONK/USD exhibit positive patterns. The MACD points to a prospective change in momentum; the RSI is at 60, suggesting more price rises; both the Klinger Oscillator and the Awesome Oscillator show bullish momentum.
Other dog-themed meme coins including Dogewhifhat (WIF) and Dogecoin (DOGE) have witnessed drops of 2.37% and 2.7%, respectively, in the previous 24 hours while BONK is acquiring ground. Additionally declining by 1.36% in the same period Shiba Inus (SHIB).
With a 1% drop in market capitalization to $2.31 trillion, the general cryptocurrency market is somewhat declining. Leading cryptocurrency by market capitalization, Bitcoin has also declined 1% over the past 24 hours and is presently trading at $62,581.
All eyes are on BONK’s next actions and whether it can maintain its increasing momentum in a changing market environment as it keeps causing waves in the crypto scene.
