30s Summary

BONK has seen a 16% surge in trading volumes on Coinbase, outdoing memecoins such as DOGE and SHIB. Its breakout from lackluster consolidations indicates potential growth and by December, aims to burn 1 trillion BONK tokens to increase its market value. The Solana-based token topped Coinbase memecoin trading volumes at $384 million, pointing towards increasing interest in BONK trading. BONK’s market cap stands at $3.6 billion compared to DOGE’s $90 billion and SHIB’s $43 billion, hence leaving room for growth. Burn of another trillion tokens by December will possibly increase BONK’s value.

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BONK is currently leading with a sweet 16% gain in trading volumes on Coinbase, overtaking other memecoins like DOGE and SHIB. It’s looking like BONK is breaking out from its lackluster consolidations, indicating potential growth and value. By December, the aim is to burn 1 trillion BONK tokens to increase its market value.

Boost from Bitcoin’s fresh record highs and the popularity of memecoins on prominent exchanges like Coinbase and Robinhood have led to a surge of interest in big-name memecoins. With renewed trading interest and an ambitious token burn target, BONK is setting new records.

BONK saw an impressive 16% surge over the past day, overtaking big players and large cap memes on $2.6 billion in trading volumes. It’s a considerable feat for BONK, a Solana-based token. On Coinbase, BONK topped the memecoin trading volumes at $384 million in the past day, surpassing dogecoin (DOGE), pepe (PEPE), and shiba inu (SHIB), indicating growing interest in BONK trading from both retail and institutional investors.

It’s worth noting that the rapid price increases of meme coins often come from viral marketing, community enthusiasm, and speculative trading, often based more on narratives than technical backing.

According to traders, BONK’s low unit bias, Coinbase trading volumes, and relatively low market cap compared to DOGE or SHIB add to BONK’s appeal for new investors. The last time we saw a similar influx of retail investors, DOGE hit a market cap record of $90 billion, and SHIB hit $43 billion. Currently, BONK’s market cap stands at $3.6 billion, suggesting there’s still plenty of room for growth.

In the Solana circles, BONK’s popularity is thriving due to a series of activities intended to deflate the token supply—historically, these have contributed to higher prices. BonkDAO, a decentralized upkeep group for BONK, recently burned 100 billion tokens from the circulating supply and aims to burn another trillion tokens by December, potentially increasing its value. These burns involve permanently removing tokens from circulation, sent to an inaccessible crypto address.

These tokens will originate from applications within the Solana ecosystem that utilize BONK in any given feature or set of features. For example, BONK tokens will be burned for bets placed on Dragontail, Christmas cards sent using BONKmark, and trades made on LiveBonk.