The Solana (SOL)-based dog-themed meme asset Bonk (BONK) has surpassed rival Shiba Inu (SHIB) in daily trading volume as its price jumps over 40% in just 24 hours.
New data from crypto data aggregator CoinMarketCap reveals that the Dogecoin (DOGE) competitor has seen a staggering 71.8% increase in daily trading volume, bringing its total to about $311 million.
In comparison, Shiba Inu has seen its 24-hour trading volume spike by 29.6%, bringing its total to $232. million. Furthermore, the information shows that BONK has also seen a 58.7% spike in market cap, making it the 68th-ranked digital asset.
Recently, top-US-based crypto exchange platform Coinbase announced that it will be adding the red-hot meme coin to its altcoin listing roadmap, which alerts traders that Coinbase could soon start supporting a specific digital asset.
Coinbase created the listing roadmap in 2022 as a means of increasing transparency and reducing the risk of investors front-running new trading announcements.
Furthermore, Bonk recently announced the launch of BONKBot, a program that allows users to trade crypto assets over social media and chat platform Telegram.
“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.”
Recently, crypto analyst Ali Martinez issued a warning about BONK, saying that a month-long correction for the meme asset could be in the works.
According to the strategist, a key indicator has reversed, showing a sell signal.
BONK is trading for $0.000015 at time of writing, a 49% increase during the last 24 hours and an increase of over 400% since the last 30 days.
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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.
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