The past season has witnessed the rise of most digital assets in the cryptocurrency market but one that stands out is Bonk (BONK). Its price has increased by more than 100% in the last 24 hours.
BONK is the most trending coin on the market with a significant increase of 116% in market value in the last 24 hours; This is mainly due to the recent inclusion of Coinbase. BONK is the most trending coin in the market with a significant increase of 116% in market value in the last 24 hours; This is mainly due to the recent inclusion of Coinbase.
BONK’s recent appreciation can be attributed to several key factors. Particularly noteworthy is its presence on major cryptocurrency exchanges such as Binance and Coinbase, which have played a key role in fueling the bullish momentum.
Factors Behind BONK’s Rise
The significant price development of the token is influenced by the craze surrounding meme-coins. From Dogecoin (DOGE); Such prominent assets like BONK and (Shiba Inu) showed positive monthly gains, although not as significant.
The FOMO effect can also be seen. It is likely that many investors entered the BONK ecosystem based solely on price appreciation without thorough due diligence.
Finally, honeycoin’s success stems from its relationship with Solana (SOL). ). Solana’s prices have increased significantly by 650% since January 1, making it one of the best-performing companies in the market this year.
According to experts, including Michael van de Poppeand, these developments, although exceptional, indicate a change in market sentiment. It is recommended that you be careful and avoid shopping at this stage.
BONK Price Analysis
At the time of this writing, Bonk was trading at $0.00002949; This represents an impressive increase of 95.90% in the last 24 hours; adding 156.23% to last week’s gains and a remarkable 963.17% increase over the past 30 days. Information received on December 15.
The market value of this cryptocurrency also increased from $912 million to $1.711 billion; This represented an increase of 95.91% in 24 hours at the time of publication, rising from 69th to 43rd place by market cap. This development pushes its price to the $0.1 milestone.
Additionally, the asset is trading above its 200-day simple moving average and had 17 green days last month. It is trading above the moving average.
However, high price volatility should be a warning sign for investors who should do extensive research before investing in assets
