By: Eva Baxter
The Solana-based memecoin BONK has witnessed a remarkable rise, adding over $1 billion to its market capitalization and recording a dramatic 100% surge. As a result of this spike, BONK proudly claims the title of the third-largest memecoin by market capitalization, behind Dogecoin and Shiba Inu. The unprecedented rise in BONK's value has also played a significant role in heightening trading volume levels, with a resounding 331% increase recorded in the past day alone.
This surge can be attributed to BONK's recent listing on reputable cryptocurrency exchanges like Coinbase, Binance, and KuCoin. The listing has notably fueled its upward trajectory by exposing it to a broader audience within the crypto community. Meanwhile, the positive sentiment surrounding the Solana ecosystem has also contributed to the uptick.
Moving on to a different front, the surge in BONK's value has directly impacted the adoption of the Solana Saga phone. Saga phone owners receive a 30 million BONK token airdrop upon purchasing the device, now valued at over $700, which is higher than the phone's current price tag. This has led to increased demand for the phone, further boosting BONK's market performance.
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