MEME coin trader Unipcs (Bonk Guy) predicts that BONK will soon hit a new all-time high (ATH). The cryptocurrency further outlines several reasons why the Solana meme coin is about to break its ATH again.
Why BONK is about to hit a new high
In an X post, the MEME coin trader said that BONK is about to hit a new all-time high again. He mentioned the reasons for this, including that the trading volume of the MEME coin on Coinbase is larger than Solana, indicating that crypto investors have a strong interest in BONK.
Bonk Guy further mentioned that BONK's trading volume on Coinbase has surpassed the total of other top MEME coins PEPE, Shiba Inu and Dogwifhat. At the same time, the MEME coin trader is expected to burn 1 trillion BONK tokens, currently worth about $55 million, through its "Lets BONK" campaign before Christmas.
Bonk Guy believes that another factor that will drive BONK to a new high is the listing on Robinhood, which he believes could happen soon. The cryptocurrency exchange recently listed PEPE, and the next step may be to include BONK in its roadmap. Listing on Robinhood is beneficial for the price, as it will promote the adoption of BONK and drive up the price.
BONK also has an exchange-traded product (ETP), and according to what he has heard, the product is preparing to be adopted by some "serious" institutions. This is also good news for BONK's price, as institutional adoption will drive a large influx of funds into the MEME coin, pushing up the price.
Consistent with this, the MEME coin trader said that BONK has clear fundamentals and seems to have been chosen by US retailers as the main MEME coin of the current cycle. Bonk Guy said that the situation with BONK will soon become very interesting. It is worth mentioning that the Korean exchange Upbit is about to list BONK. Regarding this development, the MEME coin trader said that BONK may be the new MEME coin that Korean retail investors love the most.
The next stage is coming
In an X post, cryptocurrency analyst Altcoin Sherpa said that BONK is preparing for the next move. The analyst advised investors to only buy the spot and patiently wait for the next rally. The accompanying chart shows that the Solana MEME token will break its ATH and hit a new high.
Crypto whales seem to be preparing for this BONK price surge. In an X post, on-chain analysis platform Lookonchain revealed a smart whale actively accumulating BONK. On-chain data shows that this whale has spent $3.4 million to buy 65.4 billion BONK in the past two days.
According to CoinMarketCap data, at the time of writing, the trading price of BONK is around $0.00005524, up over 10% in the past 24 hours.
