Bonk (BONK) posted impressive numbers in the previous month, marked by a cryptocurrency rally, which has prompted its price surge by almost 1,300%, a development that investors are keenly tracking.
Considering that Bonk is significantly less popular or recognized than meme coins such as Dogecoin (DOGE), FLOKI (FLOKI), or Pepe (PEPE), its ascent in the ongoing cryptocurrency rally is all the more noteworthy.
Contributing to its growing recognition, a significant development occurred on November 20 when Bitmex officially declared that BONK is now accessible for trading on its cryptocurrency exchange platform. This announcement is expected to play a pivotal role in further elevating the coin’s prominence in the market.
BONK 30-day price chart. Source: CoinMarketCap
In the meantime, this crypto asset has posted solid fundamentals. Most notably, it is trading above its 200-day moving average, which serves as a great indicator of the previous movements of a singular asset and can give a general direction of its possible direction. Additionally, it has experienced 17 green days in the previous month.
Nevertheless, it’s crucial to bear in mind the volatile nature of the cryptocurrency market, exemplified by the recent trajectory of Solana, from which BONK derives. Despite initially seeming unstoppable in the first two weeks of November, its surge has since decelerated and even experienced a slight reversal in the last 7 days.
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