Why ‘Shiba Inu On Solana’ BONK Is Outperforming Dogecoin, Dogwifhat, But Traders Should ‘Avoid Chasing Green Candles’

Millionaire trader ‘Bonk guy’ pointed to Bonk’s recent strength, anticipating more upside in the coming months.

Yet another heavily followed crypto trader tweeted that Bonk “has confirmed a bullish market structure reversal around a macro support level, which is a positive sign.” He stated that upside potential is “huge,” but traders should avoid chasing a green candle and wait for a higher low.

Also Read: What Is Going On With The ‘Shiba Inu On Solana’ BONK?

Why It Matters: Coingecko data shows a 17.6% gain over the past two weeks for Bonk, leaving behind meme coin leaders like Dogecoin DOGE/USD, Shiba Inu SHIB/USD and Dogwifhat WIF/USD with performances of -8%, -2% and +2.5%, respectively.

Last week, Bloomberg reported citing sources close to the matter that Robinhood is likely to offer cryptocurrency futures in the U.S. and Europe in the upcoming months, which may include Bonk.

What’s Next: The influence of meme coins and Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

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