BONK, the leading Solana meme coin that has seen a propulsive price surge in recent weeks, spiked again Wednesday afternoon after Coinbase announced that it will list the coin on Thursday.

Coinbase just announced Tuesday that it intended to list BONK, but did not specify when that would happen. Despite the news, BONK had a quick jump in price late Tuesday before falling substantially—by Wednesday morning, the coin had posted an 11% dip over the previous 24-hour span.

But this afternoon, Coinbase tweeted that BONK will be listed on Thursday as early as 12pm ET, if “liquidity conditions are met.” BONK will have Coinbase’s “experimental” label as a new asset, but it can be bought and sold just like any other crypto asset on the exchange.

The Solana meme coin jumped after the news, surging to a new all-time high price of $0.00001474 late Wednesday afternoon, according to data from CoinMarketCap. BONK has dipped slightly since to a current price of $0.00001381—but even so, it’s up over 21% on the day.

BONK’s recent gains have been dramatic. According to data from CoinGecko, the coin is up 77% this week and 736% over the past month. It recently leapfrogged the Ethereum-based token FLOKI to become the third-largest “dog-inspired coin” by market cap, following Dogecoin (DOGE) and the Ethereum-based Shiba Inu (SHIB).

But BONK’s fortunes have echoed those of Solana itself. SOL is up 37% this month to a current price above $71, per CoinGecko, marking a 418% boost from one year ago.

The post Solana Meme Coin BONK Hits Another All-Time High Ahead of Coinbase Listing appeared first on Crypto News Australia.

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Filed under: Bitcoin - @ December 13, 2023 11:34 pm