BONK, Solana’s Meme Coin, Rockets 30% in Bullish Surge

BONK, the primary meme coin of Solana, is on a bullish rampage today, with its price increasing by over 30% to $0.00001265. BONK is arguably charting the bullish resurgence on Solana, with nearly all metrics now in the green, following a severe beating by the bulls.

The substantially increased trading volume of BONK indicates a renewed interest among purchasers.

As of the time of writing, this metric has increased by 212% to $404,460,679, as reported by CoinMarketCap. As a result, the weekly losses have decreased from over 20% to 12.4%.

The price recovery of BONK could potentially be attributed to market giants strategically acquiring the meme coin. One such whale, as reported by Lookonchain, recently purchased 386 SOL for approximately $40,000 today to receive 3.29 billion BONK in total.

This specific whale has a long history of being drawn to BONK and was an early adopter of the Solana-based meme coin, earning over $6.9 million.

Based on data from Lookonchain, this cetacean has amassed 371.4 billion BONK in nine months for a mere 6,998 SOL, equivalent to $276,000. Amid this period, the whale astutely sold fifty-nine percent of the BONK that had surged for 50,139 SOL, generating a profit of $5.2 million.

Given the renewed accumulation, the whale may discern a trend that the majority fails to notice; this indicates that BONK may soon experience a more defined rally.

Observers and market analysts are optimistic that Solana will continue to steer the current market trend, even though Bitcoin is the apparent driver of the current momentum.

Solana, which spearheaded the mega-cap rally in 2023, retested the $100 resistance level in the early hours of today on a remarkable uptrend chart.

As a result of BONK’s ascent, anticipations are growing regarding the probable relaunch of additional meme currencies, including Dogwifhat and AnaloS.