- The Solana-based meme token BONK has actually clinched an all-time high.
- Its rally in the recently was sped up by its listing on KuCoin.
Shiba Inu-themed token Bonk [BONK] has actually rallied to an all-time high. This follows the token’s listing on cryptocurrency exchange KuCoin at the end of November.
Exchanging hands at $0.0000125 at press time, the cost of the dog-themed crypto property has actually increased by 200% in the last 7 days. According to CoinMarketCap’s information, BONK ranked as the crypto possession with the most gains in the recently.
Sharp need for BONK leads to increased volatility
As numerous anticipate a playout of the “Coinbase result” following the KuCoin listing, BONK has actually seen a considerable rise in need in the recently.
Readings from the token’s cost motions revealed a sharp uptick in crucial momentum indications considering that 4th December.
At press time, BONK’s Relative Strength Index (RSI) and Money Flow Index (MFI) were identified at overbought highs of 87.32 and 94.63, respectively.
While these worths revealed that purchasing pressure went beyond token circulation, purchasers’ fatigue prevails at these levels. This is due to the fact that purchasers generally discover it difficult to sustain any more rate rally.
