Bonk Rallies 6% In A Day, Millionaire Trader Calls It 'Incredibly Undervalued'

Despite market volatility, Bonk BONK/USD continues to surge, prompting bullish sentiment from traders.

What Happened: Prominent trader Unipcs describes Bonk as one of the best risk/reward opportunities in the current cycle.

As Solana's leading meme coin, it enjoys strong cultural significance, deep liquidity and major exchange listings on Robinhood, Coinbase and Binance, according to the trader.

With an ETF filing and ETP launch expected soon, institutional interest is rising, making the meme coin “incredibly undervalued.”

Down 85% from its all-time high, Bonk could be primed for a strong rebound, with a potential market cap surpassing $10 billion.

Commentator Kadense Pengu backed Unipcs' view, emphasizing Bonk's deep undervaluation and stating that $10 is within reach this cycle.

Also Read: Pepe, Fartcoin, Bonk Leapfrog Dogecoin, Shiba Inu In Momentum As Traders Predict Bullish Momentum

Why It Matters: On-chain analytics platform Stalkchain reports that meme coins saw more outflows ($2.79 million) than inflows ($1.3 million) on March 19, yet Bonk still received $73,000 in inflows.

Coinglass data shows Bonk's derivatives trading volume surged 143.9%, while open interest jumped 9.2% to $10.2 million.

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