Dogecoin

Solana

Million

Bonk

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">Bulls have returned to the Bonk (BONK) market today as the meme coin has triggered a strong upward rally. From its price to key metrics, BONK is witnessing a massive increase in multiple things, and the community is rejoicing in it. Moreover, it is likely that this bullish sentiment is going to prevail and a more sustained price rally will be established.</p>
<p dir="ltr">As per CoinGlass&nbsp;<a href="https://www.coinglass.com/currencies/1000BONK" rel="noopener noreferrer nofollow">data</a>, the trading volume of BONK has surged 36.8% in the last 24 hours. It is currently standing at the $778.9 million range. This is a crucial development as it means that trading activity has witnessed an intense increase, and more investors are jumping on the Bonk bandwagon. It also shows rising investor confidence and interest in the popular meme coin.</p>
<h2 dir="ltr" id="another-metric-goes-bullish">Another metric goes bullish</h2>
<p dir="ltr">Along with it, the Open Interest (OI) of BONK has jumped 19% during the same period. It has reached the astonishing level of $332.7 million. This is yet another positive development for the&nbsp;<a href="https://u.today/opinions/solana-sol-to-330-what-to-expect-this-week" rel="noopener noreferrer nofollow">Solana</a>⁠⁠⁠⁠⁠⁠⁠-based meme coin. This surge in OI suggests that the number of open positions, or contracts, have increased.</p>
<p dir="ltr">Investors are opening more positions for BONK, as they are showing great interest in the coin. The rising trading activity coupled with increasing OI are two strong bullish indicators for Bonk coin. They hint toward a potential price breakout that can take the meme coin to the next highs, potentially achieving new all-time highs.</p>
<h2 dir="ltr" id="bonk-price-rallies">Bonk price rallies</h2>
<p dir="ltr">The price of BONK, as of writing time, is trading at $0.00002604. It has witnessed a massive surge of 10.91% over the past 24 hours. Consequently, the market cap of the coin has surged 11.47% to a whopping $1.84 billion. This makes Bonk the 50th largest cryptocurrency on the entire market.</p>
<p>However, Bonk has the potential to achieve greatness. It is backed by a very active community and also gets support from Solana enthusiasts. Bonk can perform better and more consistently and follow the trajectory of top meme coins like Dogecoin (DOGE) and&nbsp;<a href="https://u.today/shiba-inu-shib-skyrocketing-360-whats-happening" rel="noopener noreferrer nofollow">Shiba Inu (SHIB)</a>. But let’s see how this current price rally plays out in the coming days.</p>

$778 Million in Bonk (BONK) in 24 Hours as Price Skyrockets 10%

Table of Contents

U_Today

Other articles published on Oct 1, 2024

Recent Events Shape Cryptocurrency Market Trends

Bitcoin Sees Multiple Signals for Bullish Q4, Analysts Expects Bounce Back Soon as Healthy Correc...

Top 5 Low-Cost Cryptos Primed to Turn $300 Into $100K by 2025

DWF Labs’ AUM Grows Tenfold in Ten Days, Aims for $50 Billion Target

Olumide Osunkoya Accepts Guilt in Running Illegal Crypto ATMs in the UK

ANZ Bank Joins Project Guardian for RWA Tokenization

Join our free newsletter for daily crypto updates!