Breaking News

web3bzz

Allow notificationsđź”” to receive the latest news and updates.

BONK Goes Live on Robinhood as Meme Coin Market Slows

BONK's Robinhood debut fails to ignite a price surge, as meme coin market slows down

3 min December 20, 2024December 20, 2024

Highlights:

•

BONK listed on Robinhood, but price struggles amid broader meme coin market downturn.

•

Despite listing, BONK saw volatility with limited price surge compared to previous meme coins.

•

The broader meme coin market faces a 9.96% decline, impacting BONK’s performance.

BONK Goes Live on Robinhood as Meme Coin Market Slows

On December 20, Solana-based meme coin BONK launched on Robinhood, giving 24 million users access. The listing was expected to spark a price surge, but it didn’t quite hit the mark. Despite the excitement, broader market conditions held BONK back. The coin saw a brief dip before slightly recovering, closing at $0.00002905, down 4.5% on the day.

 

Robinhood Listings and Meme Coin Price Movements

 

 

Meme coins often see price boosts after Robinhood listings. Dogwifhat and Pepe, for example, both experienced significant surges. WIF saw an 8.2% spike within an hour of its Robinhood debut. 

 

However, BONK didn’t enjoy the same reaction. It briefly dropped to $0.00002671 before rallying to $0.00003094, but could not sustain those gains.

 

Market Struggles Impact BONK’s Performance

 

The meme coin market has been struggling lately. The total market cap for meme coins dropped by 10%, falling from $137 billion to $95 billion. Smaller tokens, like Peanut the Squirrel and Brett, have been hit hardest. 

 

Bitcoin's dip below $100,000 has added to the downward pressure. Despite Robinhood's listing, the market downturn has kept BONK from capitalizing on the spotlight.

 

Even though some traders showed renewed interest, the broader market trends continue to weigh on the meme coin space. For BONK, a Robinhood listing wasn’t enough to overcome the market’s challenges.

 

 

Subscribe To

Web3Buzz

Connecting you to the world of Web3

Related News

People also like to read

Latest News