Top Holders Dumping BONK Meme Coin After Listing On Coinbase, Binance, & Crypto.com

Bonk (BONK) rallied nearly 200% in a week and 1000% in a month after major crypto exchanges Coinbase and Binance listed the Solana-based meme coin. Other popular crypto exchanges also announced the listing of Bonk. However, traders and whales have started booking profits causing BONK price to pare some gains.

BONK Selloff After Major Listings

Lookonchain in a December 15 post on X revealed that the listing of Bonk on major crypto exchanges was a “buy the rumor, sell the news” event for traders and whales.

A whale sold 52.3 billion BONK tokens valued at $927 and made more than $750K in profit. The trader purchased 69 billion BONK when the price was trading at $0.0000021. The smart money then staked tokens from Oct 30 to Nov 29.

At the time of writing, the trader holds Solana (SOL) worth $362,598 but no BONK tokens. All BONK tokens are dumped to crypto exchanges.

Furthermore, market maker DWF Labs recently deposited 50 billion BONK worth $1.6 million into Binance.

This comes as Crypto.com also followed Coinbase and Binance to list the trending meme coin Bonk. Users can start trading BONK on the exchange starting December 15.

Also Read: SHIB, GALA, & CHZ Leads Smart Money Token Inflow List

Solana Mobile Sold Out For Free Bonk Airdrop

People moved to grab Solana Mobile to capitalize on Bonk airdrop. Solana Mobile announced the complete sell-out of Saga phones in the United States.

After the recent rally, Bonk airdrop is worth more than Solana Mobile. People are claiming 30 million BONK airdrop worth over $900 after buying their Solana Mobile.

BONK price jumped more than 100% in the past 24 hours, with the price currently trading at $0.0000298. The 24-hour low and high are $0.0000141 and $0.0000341, respectively. Furthermore, the trading volume has increased by 400% in the last 24 hours, indicating a rise in interest among traders.

Also Read: Binance Delists Multiple XRP, ADA, SOL, MATIC & Other Top Liquidity Pools

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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