BONK's 24-hour trading volume has risen 391%
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BONK surged to intraday highs of $0.00002192, extending a three-day rise from lows of $0.00001357 on April 18. If today closes in green, BONK will mark its fourth day of consecutive gains.can be attributed to a few reasons, chief among them being the resurgence of meme coins in the broader cryptocurrency market. As meme coins garnered renewed interest, investors turned their attention to projects within the Solana ecosystem, seeking opportunities for outsized returns.
BONKBot is Solana's Telegram trading bot, which debuted in November 2023. BONKBot levies a 1% fee on all transactions, of which 10% goes to the BONK DAO. By burning the BONK earned, BONK DAO would reduce the total supply of BONK while recognizing the community's desire to have a matching burn from the DAO, as done by BONKBot on an ongoing basis.The proposal has been met with enthusiasm from the Bonk community, which views the burn as a positive step toward stabilizing the coin's market and fostering growth. As the proposal awaits approval, the anticipation has contributed to the buying frenzy, pushing Bonk's price higher.
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