Bonk Tembus ATH Baru, WIF Get Out Of The Way

BONK's memecoin new ATH. (Photo; Doc. Crypto News Flash)

JAKARTA - After recording a recent remarkable price increase, the meme token of the Solana network, Bonk (BONK), broke another new record again. On November 20, 2024, BONK hit an all-time high price (ATH) at the level of US$0.00057 (Rp0.902) after its price soared more than 72% in the last seven days.

BONK is now the most prominent coin meme in the Solana ecosystem, surpassing its rival, Dogwifhat (WIF), which previously dominated since last March.

The skyrocketing price of BONK coincided with the increasing interest of large investors in this dog memego token. BONK's daily trading volume soared to more than US$3.5 million (Rp55.3 billion).

BONK's market capitalization has now reached USD 4.16 billion (IDR 65.7 trillion), placing it above WIF, which has a market capitalization of USD 3.33 billion (IDR 52.6 trillion). Even so, WIF has continued to show moderate growth of 13.7% over the past week.

Launching CryptoPotato, technically, BONK shows strong bullish momentum. These tokens are traded above an exponential average of 20-day and 50-day, which usually signifies the potential for further price increases. However, analysts warn of a risk of correction if tokens fail to hold at their support level.