Coinbase has listed BONK, a dog-themed token on Solana, as one of the top-performing meme coins in the crypto market. BONK has soared by 354% in a month but faces a price correction after failing to sustain its momentum.
BONK is one of the latest meme coins to gain traction in the crypto space, following a remarkable 354% surge in its value over the past month.
The token has emerged as a frontrunner among dog-themed cryptocurrencies, a niche but increasingly popular segment within the wider crypto ecosystem.
Despite the listing, BONK has experienced a price slump in the last 24 hours after failing to surpass its 24-hour high of $0.00001311.
The price of BONK dropped to an intra-day low of $0.000009254, where it found support. BONK was trading at $0.00001051 at the time of writing, down 13.57% from its 24-hour high. However, BONK has proven itself by outshining established rivals like Dogecoin (DOGE) and Shiba Inu (SHIB).
Its recent 354% spike in value is a proof of its growing popularity among digital asset investors.
Coinbase’s decision to list new assets like BONK is part of its commitment to transparency. The exchange aims to provide balanced information, ensuring investors know the potential opportunities and risks.
However, Coinbase warns users against depositing these emerging tokens too soon to avoid the risk of losing funds. Coinbase also offers educational resources and guides for users to learn more about these new assets and how to trade them safely.
In addition to the rise of BONK, Solana’s blockchain has also made headlines with its high trading volume.
Recording $924.7 million in 24 hours, Solana has surpassed other networks like Arbitrum, Binance Smart Chain, Polygon, Avalanche, and Thorchain in on-chain trading activity.
Ethereum, however, remains the leader with a trading volume of $1.3 billion in the same timeframe.
