Bonk Price Is Up 13.4%, But Experts Say New Dog-Themed ICO Can Offer 1,026% Returns
The Bonk ($BONK) meme coin is one of today’s biggest rallies, with the BONK price skyrocketing 13.4% in 24 hours.
The Solamna meme coin currently trades for $0.00002611. Its overnight gains are the highest of any top 100 currency, except Arweave (AR) which blew up 19.5% to trade at $34.98.
That also makes it the fastest appreciating meme coin among the seven largest by market capitalization. Sector leader Dogecoin ($DOGE) only added 3.4% overnight and trades at $0.1327 at the start of the weekend.
BONK’s trading chart shows an asset that rose in step with the rest of the market during the early March rally. However, where Bitcoin peaked in the middle of the month, BONK peaked very early on; on March 4 it posted a new all-time high of $0.00004547, though it has since fallen back by 42.5%.
BONK is currently trading slightly against the grain of the rest of the market. The token’s price is currently valued higher than its 30-day moving average, as seen in the respective green and blue lines. With a Relative Strength Index (RSI) of 67 and climbing, investors appear to be pumping the token, however this momentum is likely to die down quickly.
Market leaders Bitcoin ($BTC) and Ethereum ($ETH) had more muted recoveries. The world’s favorite cryptocurrency added 2.5% to trade at $59,305 on Friday morning, UTC. Its number one contender added 1.3% and sells at $2,976 as of this writing.
Markets were rocked on Tuesday by news that Binance’s founder and former CEO Changpeng “CZ” Zhao received a four-month prison sentence for charges related to money laundering. Prosecutors argued that Binance’s previously lax approach to KYC and AML enabled multiple criminal actors to launder money through the exchange.
Wednesday threw up another
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