- After Korean exchange Bithumb announced the listing of BONK on the Korean won market, the price of BONK soared.
- Solana Meme Coin hits a two-week high as Bitcoin leads the cryptocurrency market rebound.
BONK, Solana’s first dog-themed meme coin, has seen significant gains over the past 24 hours.
According to market data from CoinGecko, the price of BONK is up 9% and is trading at $0.00002623, the highest level for the meme coin in two weeks.
Why did BONK price surge today?
Bonk’s performance over the past 24 hours is consistent with an upward reversal in the cryptocurrency price.
This comes as markets reacted to the latest US inflation data showing lower-than-expected CPI numbers. Bitcoin surged past $66,000 as stocks surged to weekly highs, with analysts predicting a possible rise to $74,000.
Positive sentiment has energized most altcoins, with Ethereum surging above $3,000 and Solana surging past $160.
BONK prices mirrored other meme coins, rising slightly as mega caps soared.
On Thursday, Bonk announced that Bithumb, the second largest cryptocurrency exchange in Korea, presentation BONK listed.
The platform will trade BONK for KRW at 17:00 on May 16th. Bithumb will also list Zeta Chain (ZETA).
Since Korea is one of the top cryptocurrency markets, Bonk’s listing on Bithumb is likely to improve not only the visibility but also liquidity of the meme coin. Trading volume was up 30% on Thursday morning.
BONK price may break higher and retest levels seen in March and April. If the broader market continues to rise, the bullish momentum is likely to strengthen.