Rising star of recent times bonk (BONK) became the top gainer among the top 100 cryptocurrencies as its social activity nearly doubled.
BONK’s price has increased by 26% in the last 24 hours. Additionally, at the time of writing this article, it is trading at $0.0000127. Following the rally, the market value of meme coin exceeded $800 million, making it the 81st largest crypto- has become its existence.
meme coin‘s daily transaction volume increased by 160% and reached 326 million dollars. Data shows that a whopping 36.2% of BONK’s trading volume comes from Binance via the USDT trading pair. Despite the recent rally, Bonk is down 63% from its all-time high of $0.000034 on December 15, 2023.
According to data provided by Santiment, meme coin’s social volume has increased by 97% in the last 24 hours. Data shows that the majority of social activity comes from Telegram and X.
Koinfinans.com As we reported, meme coin may even face further price increases. According to Santiment, the asset’s Relative Strength Index (RSI) currently stands at 32. This indicator shows that Bonk has not yet encountered strong selling pressure.
For Meme coin to remain in the bullish zone, its RSI must remain below the 50 mark.
Another reason for the coin’s rally could be the OKX listing. The Seychelles-based crypto exchange announced on January 8 that it would list BONK and Jito (JTO) on its spot trading platform and withdrawals would begin on January 9.