Meme coin trader Unipcs (Bonk Guy) has predicted that BONK will soon hit a new all-time high (ATH). The crypto further outlined several reasons why the Solana meme coin is about to blast through ATHs again.
Why BONK Is About To Reach A New ATH
In an X post, the meme coin trader said that BONK is about to blast through all-time highs again. He mentioned reasons why this would happen, including the fact that the meme coin has more volume than Solana on Coinbase, which indicates massive interest in BONK among crypto investors.
Bonk Guy further mentioned that BONK trades more volume on Coinbase than the other top meme coins, PEPE, Shiba Inu, and Dogwifhat combined. Meanwhile, the meme coin trader is on track to burn 1 trillion BONK tokens, which are currently worth around $55 million, by Christmas through its ‘Lets BONK’ campaign.
Another factor that Bonk Guy believes will lead to these new highs for BONK is a Robinhood listing, which he believes could happen anytime soon. The crypto exchange recently listed PEPE and could have BONK on its roadmap next. A Robinhood listing is bullish for the price since the listing will boost BONK’s adoption and lead to higher prices.
BONK also has an exchange-traded product (ETP) that the meme coin trader stated is getting primed for some “serious” institutional adoption based on what he has heard. This is also bullish for the BONK price since institutional adoption would drive massive inflows into the meme coin, leading to higher prices.
In line with this, the meme coin trader said that BONK has clear fundamentals and seems to have been chosen by American retail as their main meme coin for this cycle. Bonk Guy remarked that things should get super interesting for BONK soon enough. It is worth mentioning that the South Korean exchange Upbit is set to list BONK. Speaking on this development, the meme coin trader stated that BONK could be the favorite new meme coin among Korean normies.
Next Leg Up Is Imminent
In an X post, crypto analyst Altcoin Sherpa said that BONK is loading for the next move. The analyst advised investors to just buy spot and be patient for the next leg up. The accompanying chart suggested that the Solana meme coin is set to blast through its ATH and reach new highs.
Crypto whales look to be positioning for this BONK price explosion. In an X post, the on-chain analytics platform Lookonchain revealed a smart whale that is actively accumulating BONK. Onchain data shows this whale has spent $3.4 million to buy 65.4 billion BONK over the last two days.
At the time of writing, BONK is trading at around $0.00005524, up over 10% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com