Bonk Fetches 578% Monthly Gain, Gives Shiba Inu A Chase In Crypto Kennel
Portfolio Pulse from Khyathi Dalal
Bonk (CRYPTO: BONK) has seen a 578% increase in the past month, outperforming Shiba Inu (CRYPTO: SHIB), which gained 18.9% in the same period. Arthur Hayes predicts BONK could surpass SHIB as the second-largest dog-themed memecoin. BONK's listing on major exchanges like Coinbase and Binance contributed to its price surge, although it experienced a pullback due to profit-taking. BONK aims to become the community coin of Solana (CRYPTO: SOL) and be used in various DApps.
December 18, 2023 | 8:49 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Binance's inclusion of Bonk (BONK) may have similar effects as Coinbase, with increased trading activity potentially leading to higher short-term revenues for the exchange.
Binance, by listing BONK, may see a surge in trading volume as investors flock to buy the trending memecoin, which could positively influence Binance's revenue and, by extension, the BNB token's value in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Coinbase's listing of Bonk (BONK) likely contributed to the increased trading volume and attention towards the exchange, potentially impacting its short-term revenue positively.
The listing of a new, rapidly growing cryptocurrency like BONK can attract traders to the platform, increasing trading volumes and fees collected by Coinbase, which could positively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
As Bonk (BONK) is a Solana-based memecoin, the increased interest and investment in BONK could lead to a higher demand for Solana (SOL), potentially boosting its price in the short term.
The success of a Solana-based token like BONK can have a positive spillover effect on the Solana blockchain itself, as it demonstrates the ecosystem's vitality and could lead to increased usage and demand for SOL.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80