Can BONK Hold Onto Its Gains with Binance Debut?

Coinbase, one of the leading cryptocurrency exchanges, recently announced the listing of a new token, BONK. Following the listing, the price of BONK witnessed a 60% surge, hitting an all-time high. Additionally, Binance, another major player in the crypto space, swiftly followed suit, revealing its plans to list BONK, accompanied by a Seed Tag.

Binance will list spot trading pairs BONK/USDT, BONK/FDUSD, and BONK/TRY are set to go live on December 15, 2023, at 08:00 (UTC). This move comes as Binance acknowledges the growing popularity and demand for BONK in the crypto market.

The mere announcement of Binance’s listing propelled BONK’s price to surge by an impressive 115%. Zooming out to a 30-day analysis, BONK has recorded an 1100% increase, underscoring the fervor surrounding this relatively new Solana-based meme coin.

Despite the excitement, Binance issued a cautionary statement regarding BONK, stating that BONK is a new and innovative token, implying a higher-than-normal risk level. Traders are advised to exercise sufficient risk management, conduct thorough research on BONK’s fundamentals, and gain a comprehensive understanding of the project before engaging in trading activities.

The introduction of a Seed Tag by Binance signifies that BONK is considered an innovative project, potentially exhibiting more volatility and risks compared to other tokens on the exchange.

With BONK set to make its debut on Binance, traders can expect heightened volatility. BONK is trading at $0.00002952 at press time, surging from a 24-hour low of $0.00001392, according to data from CoinGecko. The meme coin has reportedly breached the $0.00003 price level.