In today’s crypto market, meme-coins are no longer just frivolous jokes that the world dismisses as before. After Dogecoin and Shiba Inu, the crypto market has witnessed the emergence of a new player on the Solana (SOL) network called Bonk (BONK). Recently, the meme-coin BONK has been officially listed on one of the world’s leading exchanges, Coinbase.
According to Coinbase’s announcement, trading will begin on December 14th, provided that this token meets liquidity requirements. Following that, the BONK/USD trading pair will be launched, subject to sufficient meme-coin supply. Of course, if these conditions are not met, the listing of meme-coin BONK on Coinbase may be canceled. According to CoinGecko, with BONK’s trading volume in the last 24 hours reaching around $214 million USD, it seems that these conditions are not a concern for this meme-coin.
Immediately after the announcement of BONK’s Coinbase listing, the price of BONK saw a nearly 60% increase in the past 24 hours. At the time of writing, the price of BONK is trading at $0.00001461 USD. The highest price recorded during this period reached $0.00001496 USD. Although the price has shown signs of cooling off, it has demonstrated a positive reaction to the news.
In fact, the current price level is not only a new high for this meme-coin recorded so far this year, but it has also broken the recent resistance level at $0.00001306 USD, turning it into a support level. This is believed to be a move that helps BONK maintain the growth seen in the past 24 hours.
In the context of the overall cryptocurrency market undergoing a recent correction, the fact that BONK’s price has reached a new high due to the Coinbase listing news may prompt holders to take profits. If there is a significant profit-taking, the price of BONK could be pushed back below the $0.00001306 USD level, or even lower. On the other hand, if BONK holders continue to have confidence, this meme-coin may rise above its current high in the near future.