Why is Solana meme coin Bonk (BONK) surging?

• Bonk worth rose sharply after South Korea trade Bithumb introduced itemizing of BONK within the KRW market.
• The Solana meme coin reached a two-week excessive as Bitcoin led the crypto market bounce.

Bonk (BONK), the primary dog-themed meme coin on Solana, has picked up vital upside previously 24 hours.

In response to market information from CoinGecko, BONK worth is up 9% and buying and selling at $0.00002623 – the meme coin’s highest stage in two weeks.

Why did the BONK worth spike right now?

Bonk’s efficiency previously 24 hours aligns with an upward flip in crypto costs.

These got here as markets reacted to the newest US inflation information that confirmed softer-than-expected CPI readings. As shares jumped to weekly highs, Bitcoin surged previous $66k to see analysts predict a possible bullish run to $74k.

The optimistic sentiment buoyed most altcoins, with Ethereum breaking above $3,000 and Solana surging above $160.

BONK worth mirrored different meme cash, which noticed slight features as mega caps spiked.

On Thursday, Bonk prolonged features amid information that Bithumb, the second-largest cryptocurrency trade in South Korea, had introduced BONK itemizing. 

The platform will open buying and selling for BONK within the Korean received (KRW) on Might 16 at 17: 00 pm. Bithumb can even listing Zeta Chain (ZETA).

With South Korea one of many prime crypto markets, Bonk’s itemizing on Bithumb appears to be like set to boost not simply visibility but in addition liquidity for the meme coin. Buying and selling quantity was up 30% in early buying and selling Thursday.

BONK worth may break larger and retest ranges seen in March and April. Bullish momentum can be prone to strengthen if the broader market continues larger.