The popular altcoin of recent times, Bonk (BONK), is the subject of speculation regarding the possibility of being listed on another exchange. European banking fintech Revolut is planning to launch a campaign worth 1.2 million dollars to list Bonk and encourage its users to learn about the cryptocurrency.
Excitement Over BONK Listing
The prepared campaign plan is being evaluated by BONK’s management council. At the time of writing, the approval has surpassed the required 75% majority with eight affirmative votes. Although the voting has been approved, there is still more than three days left in the voting period. After the listing is completed, it could be added to the significant listings that the meme token has secured over the past few months.
In November, major exchanges like Binance and Coinbase added BONK to their listings. An analysis of Bonk’s daily chart shows a positive response to the latest development. On February 14th, the chart showed a notable increase of over 14%, which could indicate the second-highest rise of the month so far. Additionally, this increase pushed the token above 60 on the Relative Strength Index (RSI).
Price Analysis of BONK
At the time of writing, it was trading with a drop of over 2%, causing the RSI to fall slightly below 60. The upcoming listing, along with an increase in new user registrations, could contribute to a higher trading volume and expectations of further increases. The volume chart on CoinMarketCap shows that Bonk’s trading volume has increased by over 75% in the last 24 hours. This could signal an increase in trading activity following the latest development.
However, when considering the volume trend at the cryptocurrency analytics firm Santiment, this increase, while notable, does not represent the highest volume observed recently. Currently, the altcoin’s volume is around 194 million dollars. It is also seen that at the beginning of the month, the volume exceeded 300 million dollars. The upcoming listing approval could lead to significant increases in both volume and price.
