BONK Price Spikes Over 14% Amid Revolut Listing Rumors
As the rumors of major adoption spread, will the price of BONK continue to rise?
Key Takeaways
- BONK’s value climbed amid Revolut and Robinhood listing rumors.
- Its recent retracement follows a 50% price surge in February.
- Rumors of listings are unconfirmed, but the potential for significant growth remains.
The Solana-based BONK memecoin has garnered investors attention again. Its value increased by more than 14% on February 14, thanks to rumors about it launching on the Revolut and Robinhood platforms.
It has dropped 6% since its recent high. However, with the token up around 50% in February, it could be in line for more growth.
Listing Rumors
BONK might soon be available to Revolut’s user base of 38 million people. There are also discussions about a potential “Learn and Earn” campaign that could attract an potential half a million users to BONK.
Moreover, the buzz around Robinhood, a platform renowned for its role in the 2021 meme stock phenomenon, suggests that BONK’s inclusion could significantly boost its price. The platform’s reputation for spotlighting emerging assets has contributed to the speculative surge in BONK’s market value.
These rumors emerged on the Realms proposal platform and have not been confirmed by either Robinhood or Revolut.
BONK Price Analysis
On the daily chart below, we left off our previous projection for the price of BONK. According to this, the price should have undergone a corrective phase after ending its first five-wave impulse. As you can see, that happened when BONK went to its 0.618 Fibonacci retracement level at $0.00001 on January 7.
This low was revisited on January 24 and February 7, after which we saw the start of the current rise. The correction ended as the price fell deeply but established support. However, we will still need to see the first higher low to be sure.
We could see a minor retracement that should stay above $0.00001. However, if this starts a new major uptrend, BONK could be set on an upward trajectory to an all-time high above $0.000035.
Disclaimers
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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