Upbit, the South Korea’s largest crypto exchange, announced earlier today, on 20th November, a new Korean Won (KRW) trading market listing for the Solana-based memecoin, BONK. This move has boosted the trading volume and interest around BONK, pushing its price higher.
Memecoin $BONK Listing Pushes Price
There are conditions with this listing, as deposits and withdrawals for BONK will only be supported through the Solana network (BONK-Solana only).
As per reports, avid interest in this development is coming from South Korean crypto investors who have always shown enthusiasm for memecoins and altcoins. This could pave the way for BONK’s community to expand further in both size and influence.
$BONK’s Price Actions
Following the Upbit listing, BONK has already rallied 12% over the past week. Currently, the memecoin is trading at $0.00005565, with its market cap breaking through the $4.18 billion mark. This resulted in a 109% daily trading volume surge, as BONK reached $3.08 billion within a day of the listing, gaining notable interest from investors.
The meme coin is now up 70% over the week, maintaining its status as one of the fastest-growing assets in the crypto space. Cryptocurrency analysts believe this rally is only the beginning, with projections that BONK’s market cap could reach much higher than the current levels.
BONK has seen remarkable growth, with crypto analysts weighing in on its potential. Well-known market expert Altcoin Sherpa has described BONK as the most “strongest memecoin” on centralized platforms.
Euro Sniper has made an even bolder prediction, suggesting that BONK’s market cap might grow to between $30 billion and $40 billion, marking a potential 10x increase from current levels.
Confident Smart Whale Activity Signals Growth
Blockchain analysts have also taken note of BONK’s rally. Lookonchain, a whale tracker, detected significant movements by a famous smart whale. Known for making $4.84 million trading $POPCAT, this trader has now switched focus to BONK.
According to Lookonchain, the whale purchased 65.4 billion BONK tokens for $3.4 million USDC over the past two days. This strategic move signals strong confidence in BONK’s potential for further growth.
The Upbit listing reflects South Korea’s growing interest in memecoins like BONK. Historically a hotspot for altcoin trading, South Korea’s addition of BONK to the market listings aligns with this trend.
As BONK continues its meteoric rise, fueled by investor enthusiasm and bullish predictions, its trajectory could shape the broader memecoin landscape. For the BONK community, this rally may be just the beginning of an epic run.