Dog-themed meme token Bonk (CRYPTO: BONK) pipped heavyweights to emerge as the cryptocurrency market's biggest gainer Monday.
What Happened: The Solana (CRYPTO: SOL)-based coin accumulated gains of more than 13% in the last 24 hours, outperforming not just the established memecoins, but blue-chip currencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) as well.
Bonk's trading volume surged 132% to $329.16 million in the last 24 hours, significantly more than coins with a higher market cap like Shiba Inu (CRYPTO: SHIB) and Cardano (CRYPTO: ADA)
With the latest uptick, BONK's weekly gains have risen to 17.52%.
Bitcoin, Ethereum, Dogecoin Stay Rangebound On Mt. Gox Anxiety: King Crypto Must Reclaim $64K For Sentiment To Flip Bullish, Says Analyst
Why It Matters: BONK's bullish pivot comes amid support from popular cryptocurrency influencer Jakey, who urged everyone in the Solana ecosystem to own the canine coin.
I will forever suggest anyone within the SOLANA ecosystem to hold a bit of $BONK Take the price up or price down mentality out for 1 second BONK arguably played a massive role in the regrowth of the SOLANA ecosystem, dark days with a very uncertain feeling for most. They...
— Jakey (@SolJakey) July 1, 2024
Jakey reminded the community of the role played by Bonk in alleviating the negativity surrounding Solana in the aftermath of the FTX collapse in 2022.
Recall that the stated aim of the project was to indeed revive Solana from its turbulent phase.
Meanwhile, speculative interest in BONK was on the rise, with most futures traders betting on its price increase. The number of traders holding long positions for BONK surged in relation to those shorting the coin in the last 24 hours, according to Coinglass.
Price Action: At the time of writing, BONK was exchanging hands at $0.00002629, following a 13.69% spike in the last 24 hours, according to data from Benzinga Pro.
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
