In the realm of cryptocurrencies, $Bonk, a significant player within the Solana ecosystem, has become a subject of intense speculation, creating ripples in the cryptocurrency landscape.
Over the past 24 hours, $Bonk has experienced an impressive surge of over 52%. Thereby, maintaining an upward trajectory for months and accumulating substantial gains of over 750% in the last 30 days.
The announcement from leading cryptocurrency exchange Coinbase, revealing its inclusion of Bonk for trading on its platform, has played a pivotal role in driving the recent surge. Starting from today, December 14, Coinbase users can actively engage in BONK trading. Thereby, contributing to the heightened market activity surrounding the token.
Insights from Lookonchain shed light on the growing appeal of BONK among prominent investors. Of course, with whales actively accumulating the cryptocurrency in recent times.
6/ This trader spent 969 $SOL ($68K) to buy 5B $BONK again 8 hours ago.
Address: https://t.co/2TURqzo2Iz pic.twitter.com/JBlOP061RW
— Lookonchain (@lookonchain) December 14, 2023
Traders Making Massive Gains From $BONK
Reports indicate a strategic move by a trader who initiated withdrawals of $SOL from Binance to facilitate the purchase of $BONK on November 15. The trader invested a total of 6,190 $SOL (equivalent to $434,000) to acquire 125.8 billion $BONK across transactions on November 15 and November 18. Notably, the price of $BONK has witnessed a remarkable increase of over 600% since this strategic acquisition.
Further maneuvers by the trader involve the conversion of 128,995 $CROWN into 6.69 billion $BONK on December 9. This is accompanied by an additional investment of 234 $SOL to acquire 1.23 billion $BONK.
In a recent move, the trader expended 969 $SOL (equivalent to $68,000) to secure 5 billion $BONK. This continuous accumulation by whales is a significant contributing factor fueling projections of Bonk reaching new all-time highs in its price.
As Bonk captures the attention of both traders and investors, its recent surge and strategic partnerships emphasize its growing prominence within the broader cryptocurrency market.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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