BONK, a popular meme coin on Solana, is currently going through a tough time as its value experiences a significant drop. This downward trend has been a surprise, especially considering its diverse growth in the past month.
As of now, BONK is being traded at $0.00002116, showing a 1.06% increase in the last 24 hours. It’s worth noting that this rise comes after the token had faced a decline of over 10% earlier in the day.
BONK’s Holiday Plan for Price Reversal
In a bid to reverse its recent price trends, BONK has introduced a subtle plan centered around its Santa fest, promising exciting rewards for users this holiday season. The initiative involves various activities that users can participate in to qualify for these rewards.
Among the listed activities is the requirement to make a purchase within Silicon Valley Bonk using an eligible wallet, depositing a minimum of 1 SOL in BONKbot through a qualified wallet, and engaging with BONK Swap in three ways—token swapping, DeFi routing, and utilizing DCA.
The activities also extend to downloading the BONK dApp on Solana’s mobile platform Saga and participating in various games available there. Users can claim their free BONK through the dApp using the Saga Genesis Pass. This holiday plan aims to add a positive twist to BONK’s current market dynamics and engage the community in festive activities.
BONK’s Santa Activity Aims for Ecosystem Boost
In a strategic move to enhance the utility of BONK and create a positive sentiment within the meme coin ecosystem, the Santa activity and giveaway have been introduced. The goal is to generate significant interest and engagement among users.
While BONK may not match Shiba Inu (SHIB) in transaction count and burning activities, such campaigns are crucial, especially during periods of a bearish market takeover.
Despite the ongoing correction phase, BONK has consistently surprised its supporters throughout the year, showcasing its potential for remarkable growth in the future. Even with recent sell-offs, BONK’s six-month growth stands at an impressive 6,414%. This demonstrates the coin’s resilience and ability to deliver outstanding results despite short-term market fluctuations.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
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The price of the dog-themed Solana-based token Bonk [BONK] has risen by over 100% in the last 24 hours.
This comes after leading cryptocurrency exchange Binance announced the token’s listing and the commencement of spot trading for multiple trading pairs on 15th December.
#Binance will list @bonk_inu $BONK  with Seed Tag applied.👉 https://t.co/BVs6KjrRvK pic.twitter.com/AKB6mlwnkL— Binance (@binance) December 15, 2023
BONK’s listing on Binance follows its inclusion on KuCoin and Coinbase as a tradeable asset.
With a 314% surge in trading volume recorded in the last 24 hours, the token’s market capitalization has climbed by 123% during the same period.
In a span of only 12 hours, data from CoinMarketCap showed that BONK has moved from being the 69th largest asset to claiming the 43rd position. 
BONK in the last 12 hours
At press time, BONK exchanged hands at $0.00003243. At this value, BONK’s price has now surpassed that of Shiba Inu [SHIB], which traded at $0.00000988 per coin as of this writing. 
With the hype around the altcoin in the last 12 hours, BONK’s social discussions have risen to an all-time high. In fact, BONK conversations make up 7% of all asset talks within that period.

Due to the sudden surge in demand, BONK’s key momentum indicators sat at overbought levels at press time. Its Relative Strength Index (RSI) was 86.51, while its Money Flow Index (MFI) was 78.70.
Moreso, its Chaikin Money Flow (CMF) resting above zero and in an uptrend signaled liquidity inflow into the BONK market. This indicator was 0.21 as of this writing.

In the token’s derivatives market, trading volume has increased by over 254% in the last 24 hours. During that period, BONK trades totaling $97 million have been completed.
There has also been a significant uptick in the token’s futures open interest. At $2.65 million at press time, BONK’s open interest has increased by 102% in the past 24 hours, data from Coinglass showed. 
Interestingly, BONK’s funding rates across exchanges turned negative for the first time in the last three days. This showed that as the token’s price chased new highs in the last 12 hours, many traders opened short positions, betting on a price decline.

⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#BONK #BONKUSDT $BONK