The Solana-based meme coin, Bonk (BONK), has recorded spectacular positive aspects because the broader meme coin class rallies.
BONK is up by 56% prior to now 24 hours and is buying and selling at $0.000021 on the time of writing. The asset’s market cap surpassed the $1.4 billion mark, making it the 62nd-largest cryptocurrency and third-largest meme coin within the ecosystem.
Furthermore, Bonk’s each day buying and selling quantity additionally elevated by 178%, reaching $920 million.
In response to information supplied by Santiment, Bonk’s social quantity elevated by 320% since Feb. 25. Knowledge reveals that almost all of the social exercise comes from X and Telegram.
Regardless of the worth rally, the most important BONK whales nonetheless haven’t made any massive actions for profit-taking but.
Knowledge from Santiment reveals that Bonk’s Relative Energy Index (RSI) has cooled down in the midst of the worth rally — declining from 64 to 63 prior to now 24 hours. The indicator means that the meme coin is barely overheated, and a few whales may attempt to promote BONK for revenue.
BONK’s value hike comes as Bitcoin’s rally to the $64,000 mark brings bullish momentum to the broader crypto market.
In response to data from CoinMarketCap (CMC), the overall meme coin market cap surged by 32% over the previous day — surpassing the $34 billion mark. Dogecoin (DOGE) continues to be main the class with a $19 million market cap, adopted by Shiba Inu’s (SHIB) $8.3 billion worth, per CMC.