 Hello, welcome to Make Money Territory. In this video, we will be talking about the latest update on Bonk Crypto. The latest sensation in the cryptocurrency sector, Bonk Inu, Bonk, keeps making the headlines. The Solana Memecoin tapped a fresh all-time high price on December 14th, indicating that its uptrend is nowhere near its end. Bonk Inu's price reached an all-time high, ATH, thanks to Coinbase's support and its strong connection with Solana Sol. With a market value of around $900 million, Bonk has risen to 69th place in the general crypto list and third place in the memecoin sector. The increase in the price of the altcoin is partly associated with Sol's unique recent performance. The popular Memecoin project Bonk Inu's native asset, Bonk, continues to make headlines in the crypto world. The Solana-based altcoin set a new record today, reaching $0.00001518 with AT8. Data shows that the altcoin's price has increased by 13,500% in the last year or 272 times. Furthermore, data reveals that the altcoin's price has increased by 738% in just the last month or 13 times. One of the main factors behind the increase in Bonk's price was its listing on the US-based major crypto exchange Coinbase. The major crypto exchange added the altcoin to its list of listed cryptocurrencies and warned that the altcoin may not be tradable in some supported jurisdictions. This came shortly after Coinbase put the altcoin on the watch list known as the listing roadmap. Another factor behind the impressive performance of Bonk's price may be directly attributed to Solana. The native asset of the Solana network, Sowell, has been one of the best performing altcoins in recent months and recently exceeded the $70 level. Data shows that the altcoin's price has increased by 600% since the beginning of the year. In a post, Coinbase revealed its plans to introduce support for Bonk Bonk on the Solana network, SPL token. Trading for Bonk on Coinbase and Coinbase exchange is scheduled to commence on or after 9ampt on December 14, 2023, subject to meeting liquidity conditions. It added that users are advised not to send this asset over other networks to prevent potential loss of funds. Coinbase mentioned that the rollout of Bonk USD trading pairs will follow once an ample supply of the asset is established with trading launching in phases. It added the Solana network, SPL token contract address for Bonk. It is important to note that Coinbase will designate support for Bonk under the experimental label. This is applied to assets new to the platform or those with relatively low trading volume. As per the exchange, the experimental label aims to enhance transparency by alerting customers to potential risks, like price volatility and order cancellations. Solana's based meme crypto, Bonk price has managed to gain more than 7200% on the year-to-date YTD basis. Bonk is trading at an average price of $0.000015 at the press time. Its 24-hour trading volume is up by 72% to stand at $263.7 million. After overtaking Pepe, Bonk's cumulative market cap stands at $881 million. However, Solana is also riding high on the same road. SOL price has jumped by 620% on YTD. Solana is trading at an average price of $1.71 at the press time. Its 24-hour trading volume is down by 12% to stand at $2.18 billion. Bonk was launched in December 2021, following the downfall of Sam Bankman-Fried, which resulted in a sharp drop in sentiment for the Solana ecosystem. Initially labeled a meme coin, Bonk defied expectations by quickly integrating into the Solana landscape. Various Solana projects embraced the token using it for NFT payments. Burn mechanisms for NFT events further fueled its popularity in the weeks after launch, created by a collaborative team of 22 individuals without a single leader. Bonk's creators have a successful track record in building decentralized applications, NFTs, and related products on Solana. If the bulls hold the price above the support level of $0.00013051, the price will regain momentum and prepare to test its resistance level of $0.0001501 in the coming days. Further, if the bulls hold the price at that level, Bonk price will attempt to test its upper resistance level of $0.0001701 by the month end. Conversely, if a trend reversal occurs, the Bonk price will lose momentum and start trading under a strong bearish influence, resulting in the meme coin price testing its lower support level of $0.000115. Moreover, if the bears continue to hold power, it will plunge further and prepare to test its crucial support level of $0.0000009635 in the coming days. Bonk is the first dog-themed coin on Solana for the people by the people with 50% of the total supply of the cryptocurrency airdrop to the Solana community. Bonk is similar to Shiba Inu, Shiba, and Dogecoin, Doge, meme coins. It was launched on December 25, 2022 and led to an increase in the price of the SOL token, a rise of 34% in 48 hours. Trading began on December 30, 2022, arousing genuine interest from the crypto community. The main goal of the team is to bring back liquidity to Solana-based decentralized exchanges, DEX. The idea of the developers was to create a full-fledged community coin that will be used across all the DApps built on Solana, and each user will have the opportunity to become part of the ecosystem, where everyone gets a fair shot. Bonk was airdropped randomly to Solana NFT collectors, developers, and artists. Other airdrop details remain unknown. Currently, the project has a small digital footprint on the internet, except for an active Twitter account. Bonk airdrops are unique events where free tokens are given to existing token holders. They're a way for crypto projects to acknowledge their faithful community members. Despite its rising popularity, Bonk faces regulatory challenges in some regions. Coinbase, always vigilant, has noted that support for Bonk may be limited due to regulatory constraints. The exchange has also warned that Coinbase may refuse to list or delist digital assets at any time for any reason, emphasizing that listings are not an acceptance or recommendation by Coinbase or its affiliates. The average directional index slope at a high of 70% reflects the buying momentum could be exhausted. And thus, a pullback is necessary to continue the bullish trend. This bullish trend in the Memecoin market is not isolated to Bonk. Other notable players like Dogecoin, Shiba Inu, Floke, and Pepe have also registered substantial gains. This could potentially signal a robust recovery and renewed investor interest in Memecoins. Thanks for watching, don't forget to subscribe for more updates.