BONK goes boom! Beats Dogecoin and Shiba Inu in trading volume

BONK’s trading volume has surpassed Dogecoin (DOGE) and Shiba Inu (SHIB), a fairly significant accomplishment for the new Solana-based meme coin. Indeed, amid its spectacular climb, the newest meme coin on the market has officially given the two mainstays a run for their money.

According to data, the newcomer had a whopping $1.37 billion in trading activity, outperforming DOGE’s $933 million and SHIB’s $225.8 million. Furthermore, despite its heightened volatility, it positions BONK as a serious participant in the meme coin market. However, concerns regarding its long-term viability remain.

BONK takes the week’s wins

The digital asset business remains a highly risky investment opportunity for the modern investor. However, this is especially true in the subsect meme coin market. Although several tokens have consolidated, they are still strongly linked to quick price moves up or down.

Could another meme coin be added to the list of foundational tokens? As a result of its recent stratospheric increase, BONK has seen its trade volume surpass both Dogecoin (DOGE) and Shiba Inu (SHIB). The Solana-based meme coin has surely added another milestone to its growing list.

Bonk (BONK) is currently trading at $0.00002374 with a 24-hour trading volume of $1,510,759,711.53. This indicates a -24.35 % decrease in the last 24 hours and a 70.20% gain in the last seven days. Bonk has a market valuation of $1,442,808,026 with a circulating supply of 61 trillion BONK.

BONK’s market capitalization has briefly hit $3 billion. Furthermore, the development came after its historic debut on two major cryptocurrency exchanges, Binance and Crypto.com. As a result of the listing, the asset had a tremendous 100% rally as it targeted fellow meme coins.

According to Arkham Intelligence, the coin was being exchanged by a number of investors, resulting in a large spike in overall volume. In contrast, the report stated that “funding is consistently negative, meaning many traders are still shorting.” 

Nonetheless, it will be fascinating to see how this momentum influences the asset’s performance as we approach the end of 2023 and the start of the new year.

SHIB’s price projection

Shiba Inu supporters have long hoped for the crypto to reach key milestones. According to recent market projections, the dream of achieving $0.02 (2 cents) may be closer than previously anticipated. 

According to a market analyst, a respected source of market insights, this ambitious goal might be fulfilled between 2030 and 2040, instilling a renewed sense of hope and optimism within the Shiba Inu community.

Due to notable price changes, Shiba Inu has recently aroused renewed interest in its community. Over the previous 30 days, the token has gained 19%.

Shiba Inu is currently trading at $0.00000979 with a 24-hour trading volume of $193,122,625.83. This indicates a -0.46% drop in the last 24 hours and a -5.30% drop in the last 7 days. 

While the road to 2 cents for SHIB will be difficult, given the inherent volatility of the cryptocurrency market, the analyst estimate instills confidence and optimism in the Shiba Inu community. The rising popularity of SHIB, combined with increased investor interest, is viewed as a trigger for prospective price increases.

Furthermore, the importance of SHIB’s utility and the expansion of its ecosystem is emphasized. ShibaSwap’s continued expansion and traction could add to a more persuasive case for the appreciation of SHIB’s worth, providing a good outlook for the Shiba Inu community.

Dogecoin (DOGE) is now trading at $0.093632 with a 24-hour trading volume of $758,264,067.10. This indicates a -2.38% drop in the last 24 hours and a -9.20% drop in the last 7 days.