BONK is showing signs of a spirited ascent. The memecoin was recently listed on Robinhood, and its price soared by 19%. However, after reaching a peak price of $0.000045, the BONK token underwent a correction, with its price adjusting downwards to $0.000029, a 32.56% correction.
With unique traders and transactions surging, the digital asset market buzzes with anticipation. But can BONK reclaim the key levels to continue its bullish price surge?
Unique BONK Traders on the Rise Following Robinhood Listing
Robinhood listed BONK 2 days ago, and in the days before that, the number of unique traders buying and selling BONK grew from 9,770 to 22,100 in just 4 days, a 126.20% growth. During that exact period of growth, BONK reached a new ATH, moving its price to $0.00004547.
Following the peak, a notable decline in daily unique traders is captured by the individual bars and the moving average line in the chart below.
The moving average, which smooths out short-term fluctuations, illustrates a clear upward trend leading to the peak, followed by a gradual decrease. This could indicate a cooling off of trader interest or market activity after an initial phase of enthusiasm before the Robinhood listing.
Author: Tiago Amaral
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