Altcoin
BONK Price Shoots 12% On Major Listing, Is $10B Market Cap Coming?
Solana-based meme coin BONK has been on a mega rally over the past week gaining another 12% today soon after listing on Korean crypto exchange Upbit. As a result, BONK price has shot up more than 12%, with its market cap shooting past $4.2 billion. Also, the daily trading volume has shot by a massive 77% moving all the way past $2.7 billion showing huge investor interest.
BONK Price Breakout After Upbit Listing
Earlier today, South Korea’s largest crypto exchange Upbit announced the launch of BONK’s Korean Won trading market. The listing will significantly boost trading volume for the meme coin driving BONK price even higher.
The South Korean exchange also announced that deposits and withdrawals are only supported through the guided network (BONK-Solana). Also, with Korean crypto investors having a greater appetite for meme coins and altcoins, this development could bode well for the entire BONK community.
Interestingly, this development came at a time when the South Korean crypto exchange is facing a probe over KYC violations. The Financial Intelligence Unit (FIU) has identified more than 500,000 instances of inadequate customer verification by Upbit.
The recent BONK price surge shows a strong breakout from its previous highs. Analysts predicts another 100% rally to take the BONK market cap to more than $10 billion.
What if BONK doesn’t slow down? pic.twitter.com/a4cOnb811p
— WebTrend (@WebTrendCo) November 19, 2024
Among the list of top meme coins, BONK ranks 4th currently. However, it might challenge the likes of Pepe Coin (PEPE) in the future.
BONK Whale Activity Skyrockets
Blockchain analytics platform Lookonchain has revealed significant activity from a well-known smart whale. It noted that a smart investor who previously earned a staggering $4.84 million profit from POPCAT, is now turning its attention to BONK.
Over the past two days, the whale has spent 3.4 million USDC stablecoin to acquire 65.4 billion BONK tokens. This signals the growing confidence in the meme coin’s potential to continue the BONK price rally further.
The smart whale who previously made $4.84M profit on $POPCAT is buying $BONK!
In the past 2 days, he has spent 3.4M $USDC to buy 65.4B $BONK.https://t.co/Or4O9Xx6TQhttps://t.co/57q50iJD1Zhttps://t.co/HPIpN8u1PZ pic.twitter.com/5lnUCBuEPZ
— Lookonchain (@lookonchain) November 20, 2024
BONK price currently trades at $0.0000559, with a 24-hour high and low of $0.00004882 and $0.00005916, respectively. With today’s rally, BONK has already extended its weekly gains to more than 75%. It competes with 53% weekly gains by Pepe coin as its trading activity surged to eight-month highs.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
A crypto trader took the broader market by storm on Wednesday, turning a mere 2 SOL to a staggering $1 million trading QUANT. Latest on-chain data flagged that a trader made a massive 2,141x return by investing in the mentioned token, which is also the recent hot buzz of the market. The token, launched by a kid via Pumpfun, currently remains shrouded in controversy amid its rug-pull saga.
Crypto Trader Makes 2,141x Return Using This Token
As per data from the tracker Lookonchain dated November 20, a crypto trader made $988K with only 2 Solana tokens in 3 hours. Notably, the trader made a 2,141x return on his investment trading the Pumpfun-launched coin mentioned above.
According to the data, a trader spent 2 SOL to buy 18.89 million QUANT and sold 3.71 million of the same token for 116 SOL. This selloff has aided the trader in making $27K. Simultaneously, with the existing holdings totaling $962K, the remarkable profit-booking strategy has garnered significant attention across the market.
Besides, with the QUANT token submerged in controversy, market watchers continue to speculate whether the abovementioned investor is an insider or smart money. Solscan’s data pointed out that the profit-booking address was recorded as BsUTWpRfVc13Gfmi.
What’s The Controversy Behind QUANT?
The QUANT token controversy has further emerged as the market’s talk of the town, underscoring the crypto realm’s dynamic nature. Notably, this token was initially launched by a kid via the Pumpfun coin launch platform. However, the kid soon sold all of it for 128 SOL, worth $30K, making a profit of $29.6K.
Nevertheless, this rug-pull scenario conversely urged a bullish impact on the token, primarily attributable to the “community taking over” the project. Subsequently, the $30K worth of coins sold by the kid is now evaluated as worth $4 million as the project garners support from the broader community.
Altogether, this saga, showcasing a crypto trader’s remarkable profit despite the coin being rug-pull, has sparked significant market discussions over the industry’s unpredictable nature. Intriguingly, CoinGape Media reported previously that a plethora of crypto whales nabbed similar profits amid the current bullish market. A meme coin trader reportedly made a profit worth $3 million trading ELIZA, another coin soaked in controversy.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Ethereum price looks stuck amid the rally in Bitcoin and altcoins, as it dropped more than 1% in a week. However, a popular analyst has made a bold Ethereum prediction as ETH price trades around the $3,100 level. He thinks it will outperform Bitcoin by mirroring the rally in the S&P 500. Whale activity and on-chain metrics signal Ethereum rally to the $10,000 level.
Ethereum Prediction of $10K By Analyst Sparks Buzz
Popular crypto analyst Ali Martinez has recently predicted an ETH price rally to $10K, outperforming the Bitcoin rally. The bold Ethereum prediction came based on ETH historical market cycle when Ethereum outperforms Bitcoin. It is yet to happen in this cycle as he hints at a potential opportunity for investors to fill their bags before the rally begins.
“Every market cycle has experienced a phase where Ethereum outperforms Bitcoin. That hasn’t happened yet in the current cycle, but it is certainly on the horizon,” Martinez stated.
Despite a 10% Ethereum price correction from the November high of $3,400, the bulls have managed to hold the strong support of $3,000. Where nearly 2.82 million addresses have purchased a total of 6.14 million ETF coins.
As per the ascending channel pattern, the ETH price will first test the targets of $4,000 and $6,000 subsequently, said Martinez.
However, Martinez noted that there’s another bullish story wherein “Ethereum could be mirroring the price action of the S&P 500, which puts a $10,000 target on ETH”.
ETH Whales Accumulation Continues
Another crypto analyst IamCryptoWolf also made a similar Ethereum prediction if the price crosses $4,000. The analyst wrote:
“ETH has been building solid momentum with higher lows over the past 2.5 years. Yes, it’s moving slow, but building momentum takes time. Once it clears 4k, it’s off to the races. 10k is the target”.
With Bitcoin dominance still close to 60%, the altcoin season hasn’t started yet and remains incomplete without Ethereum participation. On the other hand, Ethereum’s Market Value to Realized Value (MVRV) Momentum suggests that ETH still holds considerable upside potential.
Additionally, since the beginning of November, Ethereum whales are accumulating the ETH coins. In just the last two weeks, the whales have bought a total of 430,000 ETH worth a staggering $1.40 billion. These are in line with Ethereum prediction by Martinez.
As of press time, ETH price changed hands at $3110, down nearly 1% over the last day. Trading volume has dropped by 23%. Meanwhile, Total ETH Futures open interest has surged by 1% in the last 4 hours, indicating buying activity across derivatives exchanges.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
Dogecoin Influencer Drops Crucial Warning For DOGE Investors, You Could Lose Your Coins If You Don’t Do This
Popular Dogecoin influencer Mishaboar has issued an urgent warning to all DOGE investors and the broader community. Mishaboar has revealed that investors stand to lose all their coins if they fail to retrieve their private keys from the defunct Dogechain.info platform.
Final Deadline For Dogecoin Investors To Secure Private Keys
In an X (formerly Twitter) post on November 18, Mishaboar delivered a critical warning to DOGE investors and holders, revealing that investors could permanently lose their Dogecoin holdings if they fail to download their private keys from the Dogechain.info, one of the most widely used Dogecoin wallets over the past decade.
Mishaboar disclosed that Dogechain.info had officially shut down operations in July 2024 due to bankruptcy issues, prompting many users to raise concerns about how to retrieve and secure their private keys.
In June 2024, Dogechain announced the closure of its website, urging users to quickly transfer their DOGE tokens from the platform and secure their keys. This platform was popular for storing and managing investors’ Dogecoin tokens, enabling them to interact exclusively with this meme coin for years.
However, the recent closure of the platform has created a time-sensitive situation that could lead to severe consequences for Dogecoin holders if they do not adhere to present warnings. Mishaboar has issued December 31 as the deadline for all Dogecoin investors affiliated with Dogechain.info to download their private keys from the defunct wallet’s website.
The Dogecoin influencer has announced that failure to retrieve private keys before the deadline above would result in the loss of coins, as these keys are essential for accessing crypto wallets and recovering funds. Mishaboar has also reported receiving an alarming amount of emails from previous Dogechain users struggling to recover their wallets, highlighting that there was no method or strategy to recover lost funds if private keys are not backed up before the deadline.
The Dogecoin influencer has advised investors to act quickly and use the “Wallet Backup” option on the Dogecoin.info website to download private keys and ensure they are stored safely offline. Moreover, for users experiencing issues with the website’s two-factor authentication, Mishaboar suggests contacting the appropriate wallet provider to help provide an adequate solution.
Beware Of Phishing Scams
While he strongly advised investors to download their private keys on the Dogechain.info website to avoid losing funds, Mishaboar also disclosed the increasing prevalence of phishing scams. The crypto influencer has warned the community about an ongoing phishing scam targeting DOGE investors.
He revealed that users should be cautious and only interact with the official domain, Dogecoin.info. Mishaboar further disclosed a similar-sounding domain name, “Dogechain.com” has been associated with phishing attacks designed to gain access to users’ information and private keys and steal their funds.
Featured image created with Dall.E, chart from Tradingview.com
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