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Solana-based meme coin Bonk (BONK) has skyrocketed in price over the past month, hitting an all-time high of $0.000014 on Saturday.
The token’s growth shows no signs of slowing down, with hype from social media communities driving its market momentum.
However, some savvy investors aim to get ahead of the next potential meme coin breakout by investing in the popular Meme Kombat (MK) presale before it ends in January.
Bonk Price Explodes Over 2,000% During Exponential Bull Run
BONK’s exponential price growth over the past month has been nothing short of remarkable.
The coin has soared by 1,600% in the past month, far exceeding the gains made by fellow meme coins Dogecoin (DOGE) and Shiba Inu (SHIB).
However, BONK was actually up by 2,066% before the pullback that took place over the weekend.
At the time of writing, BONK is hovering around the $0.000011 level, representing a 21% drop from Saturday’s high.
Driving the frenzy around BONK have been several critical factors, including major exchange listings on Binance and KuCoin, expanding accessibility to more traders.
This has helped boost trading volumes, with over $172 million worth of BONK exchanging hands in the past 24 hours alone.
More importantly, BONK has flipped PEPE to become the world’s third-largest meme coin by market cap.
Although the token still has only a fraction of the market cap that DOGE and SHIB possess, its growing presence suggests it’s now a major player in the meme coin space.
How Derivatives Trading & Solana’s Resurgence Fueled BONK’s Rally
While social media hype has undoubtedly played a role in BONK’s epic run, the token has also benefitted from increased futures trading and a renewal of interest in the Solana (SOL) ecosystem.
As BONK listed on top-tier exchanges in the past month, futures and derivatives trading exploded.
Open interest figures reveal that traders are buying and selling huge volumes of BONK futures contracts, adding to the token’s price volatility.
This speculative futures trading indicates confidence in BONK’s value continuing to rise.
Additionally, BONK has piggybacked on renewed hype surrounding Solana in recent weeks.
As SOL went on its own bull run and re-entered the top 10 cryptocurrencies by market cap, investors began revisiting Solana-based coins.
Unsurprisingly, BONK offered an appealing meme coin opportunity on a blockchain that was gaining tremendous traction.
These factors combined have positioned BONK as one of the most talked-about cryptos on the market right now.
New Contender Meme Kombat Combines Gaming & Staking in Bid to Become Breakout Meme Coin
As BONK continues its epic surge, some crypto investors are already searching for the next meme coin poised to explode.
All eyes are turning to Meme Kombat (MK), an innovative new project combining memes with gaming, wagering, and lucrative staking rewards.
Having raised over $2.8 million so far during its presale phase, Meme Kombat has quickly captured the attention of retail investors.
The platform allows users to bet on meme coin character battles, with winners earning rewards in MK, Meme Kombat’s native ERC-20 token.
These tokens can then be staked for yields of 299% annually, creating a pathway to passive income for holders.
Meme Kombat also aims to create a vibrant community through its Telegram channel and presence on social media platforms like Twitter.
With major crypto influencers like Crypto Tony also endorsing the project, the buzz continues to build.
Meme Kombat’s team plans to continue improving the ecosystem and launch new “seasons” with new characters and game modes.
As such, the platform looks well-positioned to benefit from growing interest in the GameFi space.
Interested investors can buy MK tokens during the limited-time presale event for just $0.235 – a price point only available for three more days.
Visit Meme Kombat Presale