83% of SHIB Holders Are Stuck in the Red—But Diehard Fans Are Holding Out for a Massive Rebound!
Shiba Inu was once hailed as the king of memecoin. But a recent report has shown that close to 83% of SHIB holders are in the red....
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Trading Volume Soars as BONK Outshines Shiba Inu with Over 40% Price Surge in Just 24 Hours
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The price of the dog-themed meme asset Bonk (BONK), based on the Solana (SOL) blockchain, has risen over 40% within a span of 24 hours. This impressive surge in price has also propelled Bonk's daily trading volume past that of its competitor, Shiba Inu (SHIB).
According to recent data from CoinMarketCap, the competitor of Dogecoin (DOGE) has experienced an astonishing 71.8% surge in its daily trading volume. This surge has resulted in a total trading volume of approximately $311 million for the cryptocurrency.
In contrast, Shiba Inu (SHIB) has witnessed a 29.6% increase in its 24-hour trading volume, reaching a total of $232 million. Additionally, the data reveals that BONK has experienced an impressive 58.7% surge in market capitalization, propelling it to the 68th position among digital assets.
Recently, top-US-based crypto exchange platform Coinbase announced that it will be adding the red-hot meme coin to its altcoin listing roadmap, which alerts traders that Coinbase could soon start supporting a specific digital asset.
To enhance transparency and mitigate the risk of investors front-running trading announcements, Coinbase implemented the listing roadmap in 2022. This roadmap serves as a mechanism for increased visibility and allows investors to better anticipate and respond to new listing announcements.
Bonk also recently announced they have launched BONKBot, enabling users to trade crypto assets on Telegram.
"On the third day of BONKmas, my true dog gave to me: BONKbot! Trade with ease using BONKbot on Telegram. This BONKmas, discover how BONKbot simplifies trading and managing your positions.”
Crypto analyst Ali Martinez has recently issued a cautionary statement regarding BONK, suggesting that a month-long correction may be looming for this meme asset.
Based on the analysis by strategist Ali Martinez, a significant reversal has occurred in a key indicator, indicating a sell signal for BONK.
As of the current time, BONK is trading at $0.000015, representing a remarkable 49% surge in the past 24 hours. Additionally, it has experienced an extraordinary increase of over 400% in value over the last 30 days.
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