BONK/USD experienced an extraordinary surge of 62% within a single day, fueled by growing indications of an impending token burn and significant movements by large investors, colloquially referred to as “whales.” This surge has triggered a wave of anticipation among traders, who foresee further upward momentum.
In the broader context, Bonk has seen its weekly gains soar to an impressive 104%, rapidly approaching its previous peak recorded in December 2023.
This surge in trading activity has been accompanied by a substantial increase in trading volumes, spiking by 99%, consequently boosting the token’s market capitalization to $1.5 billion. Notably, this surge has propelled Bonk ahead of Pepe in terms of market capitalization. Data from Coinglass indicates a significant surge in open interest, climbing by 116.6% to reach $11.9 million.
On February 27, BonkBot, a prominent trading bot operating on the Solana blockchain, announced via X channel that it had executed a token burn, eliminating a total of 696.9 million Bonk tokens, valued at $8,317, within the preceding 24 hours. This latest burn brings the cumulative amount of Bonk tokens destroyed to 163.8 billion, with a current market value of $1.96 million.
Furthermore, data from Lookonchain unveiled a substantial acquisition by a whale, who purchased 98 billion Bonk tokens from the Binance cryptocurrency exchange just before the surge in price. This acquisition, valued at $1.54 million, has significantly boosted the whale’s Bonk holdings to a total of 319.4 billion tokens, with a total valuation of $7 million and accumulated profits totaling $2.9 million.
In light of these developments, BonkBot has issued a cautionary message to investors, urging them to safeguard their Bonk holdings, ominously declaring, “BONKbot is coming to burn it all.”
