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SHIB Rival on Solana, BONK, Added to Coinbase Roadmap, Price Reacts Inadequately

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SHIB Rival on Solana, BONK, Added to Coinbase Roadmap, Price Reacts Inadequately

Wed, 12/13/2023 – 08:51

SHIB Rival on Solana, BONK, Added to Coinbase Roadmap, Price Reacts Inadequately
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In a surprising move, Coinbase, one of the leading crypto exchanges in the United States, has unveiled plans to include the popular meme token BONK in its roadmap. 

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This announcement, detailed in the blog section of the exchange, emphasizes Coinbase’s adherence to stringent standards when integrating new assets.

The inclusion of BONK, the first dog-themed coin on Solana, marks a significant development for this popular meme coin.

BONK, which follows the ethos of “for the people, by the people,” distributed a remarkable half of its total supply via an airdrop to the Solana community. Launched in December 2022, BONK quickly gained attention and even contributed to a surge in the price of the SOL token when trading commenced at the end of 2022.

BONK price reaction

The market response to Coinbase’s decision has been nothing short of a roller coaster ride for BONK’s price. Since the beginning of November, the token has already witnessed impressive growth of 2,969%, maintaining its upward trajectory until the first 10 days of December. 

However, a sudden shift in the trend led to a descent in BONK’s price.

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BONK to USD by CoinMarketCap

Coinbase’s announcement triggered a surge in BONK quotes, with the meme coin’s value skyrocketing by over 17%. Yet, this momentum proved short-lived as a swift sell-off followed, resulting in a staggering 26.69% drop. 

The resulting price volatility has turned BONK into a veritable roller coaster, providing both bears and bulls with a thrilling, but unpredictable, ride.

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