The memecoin Bonk operating on the Solana blockchain continues to demonstrate impressive results, showing a 15% price increase over the past 24 hours, further contributing to its successful dynamics over the past month.
Price Growth of Bonk
The price of Bonk has risen by 113% over the past month, with an increase of over 61% in the past week, moving from $0.000019 to $0.000034. This represents a significant rise for a coin that was trading at $0.000012 at the end of June.
Increase in Open Interest
According to Coinglass data, open interest in Bonk's derivatives market has jumped by 25%, while trading volume has increased by 32%. Currently, open interest for futures contracts exceeds $62.86 million, while derivatives volume has surged to over $776 million.
Strength of the Bonk Community
Bonk's strength is largely driven by the community. The number of Solana users holding BONK tokens is approaching 1 trillion. Additionally, the letsBONK.fun platform has recorded a significant rise in fee collection this month, with over $13.2 million gathered in the first two weeks of July, up from $2.21 million in June.
Bonk continues to move upward confidently, attracting attention and maintaining community engagement. This opens up prospects for further growth, and investors are closely monitoring the achievement of key price levels.
