CandleFocus BONK goes live on Robinhood as meme coins continue to struggle
2024-12-20
Author: Content Editor
Prominent trading platform Robinhood has listed Bonk, a meme coin based on the Solana blockchain, making it accessible to over 24 million users. While Robinhood listings typically lead to short-term price surges, Bonk's price failed to capitalize on the listing. The broader meme coin market has seen a decline in the past 24 hours due to Bitcoin's dip below $100,000, and smaller tokens have been affected the most. However, the listing on Robinhood has reignited interest among investors, as net flows have turned negative, suggesting traders might be positioning to cash out. Additionally, Bonk's upcoming "BURNmas" event, which involves burning a significant number of tokens, could potentially give the price momentum.
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