Top 3 meme coins Dogecoin, Shiba Inu, Bonk: DOGE accumulation, SHIB update, BONK listing fuel gains

Source Fxstreet
May 16, 2024 13:28
  • Dogecoin holders with 1 million to 10 million tokens accumulated 30 million DOGE in May. 
  • Shiba Inu announced a ShibaSwap update on Layer 2 Shibarium.
  • Bonk was listed on Bithumb in the KRW market on Thursday. 

Most meme coins ranked in the top 10 by market capitalization, including Dogecoin (DOGE), Shiba Inu (SHIB), Bonk (BONK), have extended their gains from the past 7 days in the past 24 hours. 

Several factors have likely influenced the gains in DOGE, SHIB and BONK prices, in addition to GameStop stock rally this week. 

Dogecoin holders accumulate DOGE in May 

Dogecoin, the largest meme coin by market capitalization, has seen accumulation by entities holding between 1 million and 10 million tokens. Data from crypto intelligence tracker Santiment shows that holders added 30 million DOGE to their holdings between May 1 and 16. 

Accumulation is typically a bullish sign for an asset.

DOGE

Dogecoin holders accumulate

Analyst Crypto Kaleo predicted a rally in Dogecoin post the GameStop stock rally this week. 

 

Shiba Inu announces ShibaSwap on its Layer 2 blockchain

Shiba Inu announces the arrival of its decentralized exchange, ShibaSwap, on its Layer 2 chain. The update boosts the liquidity and user experience for SHIB holders as the DEX now enables swaps and liquidity pool creation for tokens with a seamless transfer between the Ethereum and Shiba Inu chains. 

SHIB is trading at $0.0000247 on Binance, down nearly 2% on Thursday. 

Bonk gets listed on Korean crypto exchange

Bonk was listed on Bithumb on May 16, the listing announcement pushed BONK to a 10-day high of $0.00002648. The meme coin rallied past resistance at $0.00002552 on Thursday.

Bonk’s trade volume crossed $384 million, another 10-day high for the meme coin as traders digested the token’s listing on a leading exchange, as seen on crypto intelligence tracker Santiment. 

Bonk

Bonk trade volume vs price 

At the time of writing, Bonk is trading at $0.00002448 on Binance. 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
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