WHAT IS BONK? How is BONK different to other DOG MEME COINS? BONK NEWS & BONK PRICE PREDICTION 2024
00:00 Introduction
00:58 What’s Driving The BONK price?
03:18 What is BONK?
06:28 BONK NEWS
07:52 BONK Price Prediction
As BONK became one of the most talked about tokens in late 2023. I thought it might be about time to dive a bit deeper into Memecoins.
So what’s driving its phenomenal growth – and how is BONK different to other dog-based meme tokens?
Bonk, a digital currency inspired by dogs and built on the Solana network. At the time of shooting BONK has risen by almost 200% 190% to be precise in the last seven days reaching a new all-time high of $0.00003594 on Mar 04, 2024 .
This surge has propelled Bonk’s total market value above $2.2 billion, making it the 49th-largest cryptocurrency globally and the 4th-largest among meme coins.
What’s Driving The BONK price?
BONK’s price momentum began surging in October 2023, after the introduction of single-sided staking BONK pools. This feature allowed BONK holders to earn a yield on BONK without having to deposit a second asset that BONK would trade against.
At that time users, transaction fees, and the number of BONK transactions surged. Other factors in BONK’s price momentum have been the announcement on December 14th, that blue-chip publicly listed exchange Coinbase would be listing the token.
Other meme coins that have a longer history and similar large market caps, like PEPE, have been ignored by Coinbase, but with BONK the ‘Coinbase Effect’ is clearly evident. The listing has boosted the mainstream legitimacy of the BONK token and introduced it to Coinbase’s large user base. In addition, BONK perpetual swap derivatives can be traded on the popular trading platform, Bitmex, with up to 10x leverage.
What is BONK?
Like PEPE and DOGE, BONK is a meme coin inspired by internet memes, jokes, and satire. Meme coins are not designed with a specific use case in mind, but rather as a way to express humor, creativity, and social commentary through cryptocurrency. While BONK is similar to DOGE and SHIB in that it features a cute dog as its mascot and logo, it differs from them in several ways.
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