Solana-based meme coin Bonk Inu (BONK) reached a new high today, setting an all-time high price. This rise comes amid a broader uptrend in the meme coin industry that has fueled speculation and attracted the attention of major exchange platforms. Here are the details…
Meme coin peaked
BONK’s price rose 13% on December 7, pushing the token to its highest point ever recorded. This notable bounce reflects a larger upward trajectory that began in early November and coincided with a positive trend in the broader cryptocurrency market. BONK’s impressive growth can be partially attributed to its affiliation with Solana (SOL). Positioned as the “first Solana-doge cryptocurrency,” BONK has benefited from the recent surge in SOL’s price, which climbed to nearly $70 in November.
BONK’s dramatic price increase is in line with a broader bullish trend in the meme coin sector. Shiba Inu (SHIB), Dogecoin (DOGE) and other meme coins have experienced significant green gains in recent weeks, indicating renewed interest in this fun segment of the cryptocurrency market.
Coinbase rumors swirl
Adding to the excitement surrounding BONK, a tweet by Cited, a cryptocurrency-related X account, sparked speculation about a potential listing on leading exchange Coinbase. The tweet suggests that BONK transactions are being routed to a Coinbase hot wallet, potentially hinting at preparations for future support. Although not yet confirmed, the possibility of a Coinbase listing has further ignited enthusiasm within the BONK community. If true, Coinbase’s decision to list BONK would be a significant milestone for memecoin, providing broader visibility and potentially attracting new investors. However, it is worth noting that this is only speculation.
It looks like $BONK transactions are now being sent to the hot wallet. When a fresh Coinbase SPL wallet receives BONK, gas fee is sent to the address as if it's a supported wallet, then sent to the Coinbase hot wallet. pic.twitter.com/EvJBR3NLeH
— Cited (@cited) December 7, 2023
Even though BONK is listed on many cryptocurrency exchanges, some exchanges, especially Coinbase, are very particular about listing. Therefore, whether a meme coin will be listed or not can only be determined by Coinbase’s official statements. It is very important to remember that cryptocurrency markets are inherently volatile and meme coins are often subject to rapid price fluctuations. While the recent rise in Bonk’s price is undoubtedly exciting, investors should always do their own due diligence and consider their risk tolerance before making any investment decisions. BONK’s future remains uncertain, but its recent performance and Coinbase rumor are giving some hope.
