Coin trader meme Unix (Bunk Guy) Expect BONK to soon reach a new all-time high (ATH). The cryptocurrency also explained several reasons why the Solana meme coin is about to explode across ATHs once again.
Why BONK is about to reach a new ATH
In X’s post, the coin trader said so Bonk is about to To blast through all-time highs again. He mentioned the reasons why this happened, including the fact that the volume of the meme coin is larger than the volume of the Solana coin on Coinbase, which indicates a huge interest in BONK among cryptocurrency investors.
Bonk Guy also mentioned that BONK is trading in a higher volume on Coinbase than other meme coins, PEPE, Shiba Inuand Duguivat combined. Meanwhile, the meme trader is on track to burn 1 trillion BONK tokens, currently worth around $55 million, by Christmas through its “Lets BONK” campaign.
Another factor that Bonk Guy believes will lead to these new highs for BONK is the Robinhood listing, which he believes could happen anytime soon. Recently crypto exchange Baby included BONK could be on his roadmap next. The Robinhood listing is bullish for the price since the listing will boost BONK adoption and lead to higher prices.
BONK also has an exchange-traded product (ETP) that the meme trader said is gearing up for some “serious” institutional adoption based on what he’s heard. This is also bullish for the price of BONK since institutional adoption would lead to massive inflows into the meme coin, sending prices higher.
In line with this, the meme trader said that BONK has clear fundamentals and appears to have been chosen by US retail as the main meme coin for this cycle. Bonk Guy notes that things should get very interesting for BONK soon enough. It is worth noting that the south Korean exchange Upbit It’s set to the BONK menu. Speaking about this development, the meme trader stated that BONK could be the new favorite meme currency among Korean traditional currencies.
Next leg is imminent
Posted by X, Cryptocurrency Analyst Altcoin Sherpa He said that BONK is being loaded for the next step. The analyst advised investors to buy points and be patient in the next stage higher. The accompanying chart indicates that the Solana meme coin is set to explode across ATH and reach new highs.
Crypto whales We look forward to positioning this explosion in BONK prices. in Share Xon-chain analytics platform Lookonchain revealed an intelligent whale that is actively collecting BONK. Onchain data shows that this whale spent $3.4 million buying 65.4 billion BONK over the past two days.
At the time of writing, BONK is trading at around $0.00005524, up more than 10% over the past 24 hours, according to Data From Coin Market Cap.
Featured image created with Dall.E, chart from Tradingview.com
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