😎 Summer Sale Exclusive - Up to 50% off AI-powered stock picks by InvestingProCLAIM SALE

BONK Surpasses DOGE and SHIB in Trading Volume

Published 2023-12-16, 01:44 p/m
© Reuters.  BONK Surpasses DOGE and SHIB in Trading Volume
XRP/USD
-
DOGE/USD
-
SHIB/USD
-
SOL/USD
-

U.Today - The BONK meme cryptocurrency has both Dogecoin (DOGE) and Shiba Inu (SHIB) in 24-hour trading volume.

BONK, a relative newcomer to the meme coin scene, has reported a staggering $1.37 billion in trading volume, overshadowing Dogecoin's $933 million and Shiba Inu's $225.8 million, per the latest data.

This shift marks a significant milestone for in the highly volatile meme coin sector of the cryptocurrency market.

Rise of BONK

BONK token, which has become the talk of the crypto town, saw its market capitalization briefly touch $3 billion following its listing on major exchanges such as Binance and Crypto.com.

Arkham Intelligence that everybody is trading BONK today, with aggregated open interest on the token doubling from the previous day's lows after Binance announced its listing.

Despite this surge, funding remains consistently negative, indicating a substantial number of traders are betting against the token, with $6.15 million of BONK liquidations occurring in just 12 hours.

Nonetheless, BONK's price has soared by 85% in the past 24 hours.

SOL challenging XRP

Parallel to BONK's rise, Solana (SOL) has experienced a growth of over 5% in the same time frame.

This uptick Solana on the verge of surpassing XRP by market capitalization. CoinGecko data suggests that Solana's valuation stands at an impressive $32.18 billion, inching closer to XRP's $34.20 billion.

The success of BONE has also shone a spotlight on the Solana ecosystem's growing clout and potential within the broader cryptocurrency market.

This article was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.