The recent price action of the cryptocurrency Bonk (BONK) has rekindled investor confidence in the memecoin, with it reaching a valuation of over 100% and managing to surpass Floki (FLOKI) in terms of market capitalization. The recent appreciation has placed BONK in the top 5 largest memecoins on the market.
The BONK memecoin has seen a notable increase in investor interest in recent weeks. This movement boosted BONK to become Floki Inu in the global rankings. Currently, BONK is ranked 64th with a market capitalization of US$1,619,558,414. FLOKI, in 66th place, still threatens the permanence of memecoin with a capitalization of US$1,586,764,486.
The meme cryptocurrency BONK underwent a test of the $0.00001934 resistance levels on April 14, and since then, the memecoin’s price has nearly doubled and increased by around 103%. Last month, the cryptocurrency displayed a double top pattern before experiencing a drop in its price.
Currently, the BONK price has seen a significant pullback in its value. At the time of publication, the price of BONK was quoted at US$0.00002418, down 4.1% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$239,137,427. In the last seven days, memecoin has appreciated by 16.9%.
In March, the memecoin BONK set a new all-time high in its price amid the market’s bull rally. The highest price paid for Bonk (BONK) was $0.00004547, recorded on March 4. Comparatively, the current price of the cryptocurrency is 46.39% lower than the historical peak.
Return of confidence for BONK and Shiba Inu investors
The recent price action of Bonk (BONK) and Shiba Inu (SHIB) has reignited investor confidence in these top cryptocurrencies and revived the meme narrative. Given the improvement in asset prices, Borroe Finance ($ROE) diversifies trends to print impressive returns.
Revolt App, a European-based cryptocurrency exchange, is expanding its digital asset offering with the addition of BONK to its cryptocurrency roster on April 23. Hence, users from this region can now trade BONK directly on the platform. The addition of BONK to the Revolt App brings the total to 150 digital assets that can be traded on the exchange.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/memecoin-bonk-ultrapassa-floki-apos-subir-103/
