Recent market analysis shows BONK has gained over 3800% after launching a few days ago, and traders are maximizing the profiting opportunities.
BONK gains over 3800%
Twitter financial market analyst Lookonchain notes that the newly created token surged from $0.000000125 to $0.00000487, and many traders are taking advantage of the gains. Lookonchain highlighted two addresses whose owner(s) counted massive profits.
One address saw the trader, whom the analyst named SmartMoney, buy about $36.5 billion of the coin at $3300 in SOL tokens yesterday. The trader sold most of the acquired 36.5 billion BONK at nearly 10,423 SOL a few moments ago. Through this recent sale, SmartBank made a profit of almost 7123 SOL, an equivalent of $94 thousand.
The second address had a recent 16 billion of the coin purchase, using 5088 SOL. This investor is readily capitalizing on the available opportunities in the market.
Topping their profits, “SmartMoney” got an airdrop of 42.58M BONK and bought 5.5B of the coin with a cost of $3,100.” The trader later sold the 5.5 billion of the coin for 21906k USDC. As such, in this simple trade, SmartMoney gained about $18,806.
BONK’s current price actions impacting SOL
The Solana-based token has been recording positive price actions since its inception a few days ago. When writing this report, the coin was trading at $0.000004161.
BONK price chart. Source: Coinmarketcap.com
According to Coinmarketcap, the token has gained over 64% in the past 24 hours. The coin began the day trading at $0.0000025. Within 24 hours, The coin surged to a high of $0.0000048, slightly plunging to the current values.
Recent stats from the crypto price indicator shows the coin recorded massive trading volumes of $134.8 million in the past 24 hours, with the CEX volumes leading. With stats showing that the token is in a strong buy condition, investors should expect more gains in the coming days.
The coin’s buying pressure has increased SOL trading volumes, causing price surges. At the moment, Solana is shown among the most trending cryptocurrencies on Coinmarketcap.
SOL/USD chart. Source: Coinmarketcap.com Solana is currently valued at $13.21, a 3% price drop from 24 hours ago. In the last seven days, the coin climbed up from a low of $9.5 to a 30-day high of $14.0. This represents a gain of over 47%. The current traffic in SOL is mainly because of their newest coin’s interest.