Solana’s BONK Hits Record High Ahead of Coinbase Listing

Following the announcement from Coinbase that it plans to list BONK, the primary Solana meme coin experienced another significant surge, climbing 21% in a single day.

Initially, Coinbase disclosed its intention to list BONK on Tuesday without specifying the listing date. Despite this news, BONK witnessed a rapid price increase late on Tuesday, only to experience a notable 11% dip in the following 24 hours.

However, this afternoon, Coinbase tweeted that BONK is set to be listed as early as 12 pm ET on Thursday, contingent on meeting “liquidity conditions.” While BONK will carry the “experimental” label as a new asset on Coinbase, it can be traded like any other cryptocurrency on the platform.

In response to the announcement, the Solana meme coin surged to a new all-time high of $0.00001474 late Wednesday, as reported by CoinMarketCap. Although BONK has slightly retreated since then, with the current price at $0.00001381, it still reflects a remarkable 21% gain for the day.

Coinbase will add support for Bonk (BONK) on the Solana network (SPL token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.

— Coinbase Assets 🛡️📞 (@CoinbaseAssets) December 13, 2023

BONK’s recent performance has been nothing short of remarkable, boasting a 77% increase this week and an astonishing 736% surge over the past month, propelling it to the position of the third-largest “dog-inspired coin” by market cap, following Dogecoin (DOGE) and Ethereum-based Shiba Inu (SHIB) after surpassing the Ethereum-based token FLOKI.

Related: Solana’s DeFi and Network Surge, But Full Recovery Road Long

Interestingly, BONK’s success mirrors that of Solana itself, with SOL experiencing a 37% uptick this month, reaching a current price exceeding $71, marking an impressive 418% increase from one year ago.