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Solana dog coin Bonk (BONK) saw a significant price increase in early Tuesday trading. More likely than not, the possible trigger for the rally might be its listing on a major crypto exchange, KuCoin.
At the time of writing, BONK was up 13.22% in the last 24 hours to $0.000004132. BONK has been on a steady rise since late October, with the rally accelerating after the formation of a golden cross on its daily chart.
BONK peaked at all-time highs of $0.00000575 on Nov. 20 before profit-taking crept in. BONK saw a sharp price spike on Nov. 22; however, bulls were only able to attain highs of $0.0000051.
Today's run culminated in highs of $0.0000041; the trend of lower highs and higher lows appears to resemble the formation of a bullish pennant.
This is a type of continuation pattern formed when a large movement known as a flagpole is followed by a consolidation period with converging trend lines. A breakout movement occurs in the same direction as the initial major movement, representing the second half of the flagpole.
If this validates, BONK may retest the all-time high of $0.00000575, taking it into uncharted territory.
KuCoin lists BONK
KuCoin, presently the sixth largest crypto exchange, has announced the listing of BONK through the BONK/USDT trading pair. BONK trading is now live on the platform.
To celebrate the listing, KuCoin launched a campaign to give away a BONK prize pool worth $58,000 to its qualified users. The promotion runs from Nov. 28 to Dec. 9, 2023, at 10:00 a.m. UTC and is broken into four activities.
To begin, users can deposit and trade to earn from the $30,000 BONK prize pool, which lapses on Dec. 5. During this period, new users will get the opportunity to win a share of a $14,000 prize in BONK.
In other activities, users can trade to win a share of $20,000 in BONK or run a BONK trading bot to share 8,000 USDT in BONK.