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Bonk (BONK) rallied practically 200% in per week and 1000% in a month after main crypto exchanges Coinbase and Binance listed the Solana-based meme coin. Other well-liked crypto exchanges additionally introduced the itemizing of Bonk. However, merchants and whales have began reserving earnings inflicting BONK value to pare some beneficial properties, with the worth presently down 30% from the excessive.

BONK Selloff After Major Listings

Lookonchain in a December 15 submit on X revealed that the itemizing of Bonk on main crypto exchanges was a “buy the rumor, sell the news” occasion for merchants and whales.

A whale bought 52.3 billion BONK tokens valued at $927 and made greater than $750K in revenue. The dealer bought 69 billion BONK when the worth was buying and selling at $0.0000021. The sensible cash then staked tokens from Oct 30 to Nov 29.

At the time of writing, the dealer holds Solana (SOL) price $362,598 however no BONK tokens. All BONK tokens are dumped to crypto exchanges.

Furthermore, market maker DWF Labs not too long ago deposited 50 billion BONK price $1.6 million into Binance.

This comes as Crypto.com additionally adopted Coinbase and Binance to checklist the trending meme coin Bonk. Users can begin buying and selling BONK on the trade beginning December 15.

Also Read: SHIB, GALA, & CHZ Leads Smart Money Token Inflow List

Solana Mobile Sold Out For Free Bonk Airdrop

People moved to seize Solana Mobile to capitalize on Bonk airdrop. Solana Mobile introduced the whole sell-out of Saga telephones within the United States.

After the current rally, Bonk airdrop is price greater than Solana Mobile. People are claiming 30 million BONK airdrop price over $900 after shopping for their Solana Mobile.

BONK value jumped greater than 100% however prior to now 24 hours, bears have had the higher hand with the worth presently buying and selling at $0.00002518. The 24-hour high and low are $0.00002208 and $0.00003419, respectively. Furthermore, the buying and selling quantity has decreased by 38.15% within the final 24 hours to $1,087,469,114, indicating a dip in curiosity amongst merchants.

Also Read: Binance Delists Multiple XRP, ADA, SOL, MATIC & Other Top Liquidity Pools

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Varinder has 10 years of expertise within the Fintech sector, with over 5 years devoted to blockchain, crypto, and Web3 developments. Being a know-how fanatic and analytical thinker, he has shared his data of disruptive applied sciences in over 5000+ information, articles, and papers. With CoinGape Media, Varinder believes within the enormous potential of those progressive future applied sciences. He is presently masking all the newest updates and developments within the crypto trade.

The offered content material could embrace the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability to your private monetary loss.