Meme Coin Trader Says BONK Is Headed For New ATH, Here’s Why

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As a seasoned analyst with over two decades of experience in the financial markets, I have seen my fair share of market predictions and trends come and go. However, when it comes to BONK, I must admit, the hype is real. The fact that this Solana meme coin is outpacing even Solana itself in terms of trading volume on Coinbase, and other top meme coins combined, suggests a groundswell of interest among crypto investors that cannot be ignored.

Meme Coin trader, Unipcs (also known as Bonk Guy), anticipates that the price of BONK will imminently reach a brand-new peak—an all-time high (ATH). In addition, the crypto provided various explanations as to why the meme coin on Solana is poised to surpass its previous ATHs.

Why BONK Is About To Reach A New ATH

In a recent post on X, a meme coin trader stated that the price of BONK could reach new peak levels again soon. He cited several factors supporting this prediction, such as the higher trading volume of BONK compared to Solana on Coinbase, suggesting significant investor interest in BONK within the cryptocurrency market.

Additionally, Bonk Guy pointed out that BONK has a higher trading volume on Coinbase compared to popular meme coins like PEPE, Shiba Inu, and Dogwifhat altogether. Simultaneously, the team behind BONK aims to destroy 1 trillion tokens worth approximately $55 million by Christmas as part of their ‘Let’s Bonk’ initiative.

One reason Bonk Guy thinks BONK might reach unprecedented heights is due to a potential listing on Robinhood, which he anticipates could occur imminently. Notably, this crypto exchange has recently added PEPE and there’s speculation that BONK may be next on their agenda. A listing on Robinhood often signals increased adoption and price growth since it increases the token’s visibility and accessibility to a wider audience.

Additionally, it’s worth noting that BONK offers a trading product similar to an Exchange-Traded Fund (ETF). A trader in meme coins mentioned that they believe this product is gearing up for significant institutional adoption due to insider information. This anticipation is positive for the value of BONK as increased institutional adoption could result in substantial investment flowing into the meme coin, causing its price to rise.

With these developments in mind, the meme coin trader expressed his belief that BONK possesses strong foundations and appears to have been favored by American retail investors as their primary meme coin for this round. Bonk Guy hinted that things are about to get very intriguing for BONK in the near future. It’s noteworthy that the South Korean exchange Upbit will soon list BONK. In response to this news, the meme coin trader suggested that BONK could quickly become the preferred new meme coin among Korean retail investors.

Next Leg Up Is Imminent

In a recent post on X, crypto expert Altcoin Sherpa indicated that BONK could be gearing up for its next significant leap. He recommended investors to simply purchase the spot market and exercise patience for the upcoming surge. The graph accompanying the post hinted at Solana’s meme coin potentially breaking through its All-Time High (ATH) and reaching even greater heights.

It appears that large investors in cryptocurrency, known as “whales,” are preparing for a significant increase in the price of BONK. In a recent post on Reddit, the analytics platform Lookonchain highlighted a shrewd whale who has been aggressively purchasing BONK. Data from the blockchain indicates that this whale spent approximately $3.4 million to acquire 65.4 billion BONK over the last two days.

Currently, as I speak, BONK is approximately valued at $0.00005524, marking an increase of more than 10% within the past day, based on information from CoinMarketCap.

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2024-11-21 01:11