Dogecoin (DOGE) competitor Bonk (BONK) continues its steep climb, with its price nearly doubling in the past 24 hours.
The meme asset, built via smart contract platform Solana (SOL), recently surpassed its rival Shiba Inu (SHIB) in daily trading volume on its way to a price of $0.000028 at the time of writing, a gain of 89.3 % during the last day.
The price increase comes after two major crypto exchange platforms – Binance, the world’s largest digital asset exchange by volume, and Crypto.com – announced they would be adding support for the memecoin.
On December 14, Binance said it would list BONK with a ‘seed’ tag, meaning it could exhibit more volatility compared to other digital assets, while Crypto.com said this would be the case add THUNK at his app.
Coinciding with the price increase of the meme asset, Solana Mobile announced that its Saga smartphone is sold out in the US. According to initial coin offering (ICO) tracking platform ICO Drops, in June, Solana promised an airdrop of 30 million BONK for those who bought the phone.
“BONK, a meme coin on Solana, announced in June the airdrop of 30 million tokens for those who download the Bonk app through the Saga DApp (decentralized app) store. The drop amount in early December was ~$110, but within a month the token grew by 650% and now the drop is ~$650. The Solana Saga phone retails for $599. Thanks to this arbitrage opportunity, Saga sales have increased tenfold in the last 48 hours.”
BONK has seen an 866% increase in price since November 17, when it was trading at $0.00003.
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Featured image: Shutterstock/Viacheslav Kuzmych/INelson
