BONK, the meme coin on Solana, experienced a 40% price surge following Coinbase’s announcement of its intention to list the token. Now the third-largest memecoin on Coinbase, trailing Dogecoin and Shiba Inu, BONK’s trading on BONK-USD pairs will launch gradually once an adequate supply is established, with potential regional restrictions.
Coinbase’s selection for token listings is seen as a trust indicator, often leading to price hikes for newly added tokens. BONK rebounded from last week’s dip, reaching $0.000014 with $235 million in trades. Stemming from Sam Bankman-Fried’s setback, which impacted Solana’s reputation, BONK gained popularity as a meme coin used for NFT purchases and special events. Created collaboratively by 22 individuals without a single leader, the BONK team actively develops dapps and NFTs on the Solana network. The surge in Solana’s market value from $50 million to $800 million since October has heightened interest in both Solana and BONK, positioning Solana as one of the top tokens in 2023.
