The surge in Solana-based dog-themed cryptocurrency Bonk (BONK) by 12% comes amidst a broader uptrend in the cryptocurrency market, particularly in dog-themed coins.
This rise in BONK's value aligns with an impressive 18% increase in Dogecoin, indicating a widespread surge among "dog coins."
Notably, other dog-themed cryptocurrencies like Shiba Inu (SHIB) and Floki (FLOKI) have also experienced gains, with SHIB up by 8% and Floki surging by 12% in the past 24 hours. This collective rise in dog coins reflects a broader trend within the crypto market.
The positive anticipation surrounding X/Twitter's new payment branch acquiring more licenses in the U.S. has sparked speculation about potential crypto payments on the platform. This optimism has contributed to the rise of Dogecoin, subsequently benefiting other dog coins, including BONK.
BONK has shown a consistent upward movement since bouncing back from lows of $0.00002144 on March 23. Notably, today marks the fifth day out of six days in which BONK has seen gains, with today's increase being the most significant.
During Thursday's trading session, BONK surged from a low of $0.000025 to a high of $0.000029, marking an astounding rise. This surge aligns with positive sentiment surrounding Bitcoin, which has crossed the $71,000 mark.
As of now, BONK has risen by 14% in the last 24 hours to $0.0000291, with a weekly increase of 25%. This enthusiasm for dog-themed coins reflects investors' growing appetite for risk and their pursuit of high-growth opportunities within the crypto market.
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