Solana Memecoin BONK Rallies By 110% Amid Binance Listing, Overtakes Shiba Inu In Trading Volumes

Solana-based memecoin BONK has created a fresh frenzy among crypto investors while extending its gains to more than 110% in the last 24 hours. As of press time, the BONK price is trading at $0.00002815 with its market cap shooting to $1.8 billion.

Amid this bullish price rally, BONK has outgrown the popular memecoin PEPE Coin, by three times in size. The BONK price rally also comes as Binance announces the listing of the memecoin for trading.

Binance Announces BONK Listing

In an upcoming move, Binance has announced the listing of Bonk (BONK) and the commencement of spot trading for multiple trading pairs on December 15, 2023, at 08:00 (UTC).

The newly introduced spot trading pairs include BONK/USDT, BONK/FDUSD, and BONK/TRY, offering users diverse trading options on the Binance platform.

#Binance will list @bonk_inu $BONK with Seed Tag applied.

https://t.co/BVs6KjrRvK pic.twitter.com/AKB6mlwnkL

— Binance (@binance) December 15, 2023

To prepare for trading, users are now able to initiate BONK deposits, with the trading functionality set to open on December 15, 2023, at 08:00 (UTC). Withdrawals for BONK will be accessible starting December 16, 2023, at the same time.

It’s noteworthy that Binance has opted for a listing fee of zero BNB for BONK, emphasizing its commitment to fostering accessibility and inclusivity in the cryptocurrency market.

Furthermore, Binance plans to expand its offerings by introducing BONK as a new borrowable asset with the introduction of a new margin pair on Isolated Margin, expected within the next 48 hours. This strategic move aligns with Binance’s continuous efforts to diversify its asset offerings and enhance the trading experience for its user base.

Overtaking Shiba Inu In Trading Volumes

In the latest data release from crypto data aggregator CoinMarketCap, BONK, a potential Dogecoin (DOGE) rival, has exhibited an extraordinary surge of 271.8% in its daily trading volume, reaching an impressive total of approximately $969 million.

In contrast, Shiba Inu experienced a notable 29.6% increase in its 24-hour trading volume, reaching a total of $232 million. Additionally, the data highlights a remarkable 108.7% surge in BONK’s market capitalization, securing its position as the 43rd-ranked digital asset.

Adding to BONK’s momentum, the renowned U.S.-based cryptocurrency exchange platform Coinbase recently announced its intention to include this fervently discussed meme coin in its altcoin listing roadmap. The roadmap serves as a guide for traders, signaling the potential support of a particular digital asset by Coinbase in the near future.

Notably, Coinbase introduced the listing roadmap in 2022 to enhance transparency and minimize the risk of investors preempting new trading announcements.

In a parallel development, BONK has unveiled BONKBot, a novel program designed to facilitate cryptocurrency trading through social media and the popular chat platform Telegram. This strategic move by BONK aims to enhance accessibility and user engagement within the crypto trading community. The announcement notes:

“On the third day of BONKmas, my true dog gave to me: BONKbot! Trade with ease using BONKbot on Telegram. This BONKmas, discover how BONKbot simplifies trading and managing your positions.”

The post Solana Memecoin BONK Rallies By 110% Amid Binance Listing, Overtakes Shiba Inu In Trading Volumes appeared first on CoinGape.