The largest cryptocurrency exchange in South Korea, Upbit, has listed the Solana meme coin #BONKđ„đ„ , causing a 7% jump in the price of BONK.
Upbit Lists Bonk for Spot Trading
On October 22, Upbit announced that it had added the Solana meme coin Bonk to its platform for spot trading. This news led to an immediate 7% increase in Bonkâs price, extending its monthly rally to more than 35%.
Trading for the BONK/USDT pair started on October 22 at 18:00 KST. It is important to note that deposits and withdrawals via networks other than Solana are not supported.
Upbit also announced that BONK withdrawal fees will be waived for the first 24 hours. After this period, regular fees will apply.
As usual, trading limits are in place, with the price limit being derived from CoinMarketCap. Sell orders at prices lower than 10% of the previous day's closing price will be restricted for approximately five minutes after trading starts.
Potential Rally for BONK?
Following the announcement from Upbit, BONKâs price surged by 7% within the hour. Traders are now expecting the coin to reach a new all-time high, as the Solana meme coin has been consolidating for some time.
A technical indicator known as the "golden cross" suggests a possible bullish rally when the 50-day moving average crosses over the 200-day moving average. Price targets for BONK are set at $0.000035 and $0.000045, with the current price sitting around $0.0000232, corresponding to the 0.236 Fibonacci retracement level.
Current Market Situation
Currently, BONK is trading at $0.00002425, with a 24-hour low of $0.00002304 and a high of $0.00002485. The trading volume over the last 24 hours has increased by 30%, indicating growing interest among traders.
In addition, open interest in BONK futures has reached over $300 million, representing a 20% rise in the last 24 hours. This reflects growing confidence among investors and increased market activity.
#memecoinđđđ , #BONKPotential , #MemeCommunity , #CryptoNewsđđ„
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