Dogecoin Competitor BONK Continues Precipitous Climb, Exploding Nearly 100% in 24 Hours

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Dogecoin (DOGE) competitor Bonk (BONK) is continuing its steep ascent, nearly doubling up in price over the last 24 hours.

The meme asset, which was built over smart contract platform Solana (SOL), recently surpassed its rival Shiba Inu (SHIB) in daily trading volume en route to its price of $0.000028 at time of writing, an 89.3% gain during the last day.

The price rise comes after two major crypto exchange platforms – Binance, the world’s largest digital asset exchange by volume, and Crypto.com – announced that they would be adding support for the memecoin.

On December 14th, Binance said it would be listing BONK with a “seed” tag, meaning it could exhibit more volatility compared to other digital assets while Crypto.com said it would be adding BONK to its app.

Coinciding with the meme asset’s rise in price, Solana Mobile announced that its Saga smartphone has sold out in the US. According to the initial coin offering (ICO) tracking platform ICO Drops, in June, Solana promised an airdrop of 30 million BONK to those who purchased the phone.

“BONK, a meme coin on Solana, announced in June the airdrop of 30 million tokens to those who download the Bonk app through the Saga DApp (decentralized app) store. The drop amount at the beginning of December was ~$110, but within a month the token grew 650% and now the drop is ~$650. The Solana Saga phone is priced at $599. Because of this arbitrage opportunity, Saga sales have increased 10x in the last 48 hours.”

BONK has seen an 866% increase in price since November 17th, when it was trading for $0.00003.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Viacheslav Kuzmych/INelson

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