BONK Token Surges 1,800% in 4 Weeks, Then Pulls Back 24% After Binance Perpetuals Listing
• BONK token has surged 1,800% in past 4 weeks, outperforming bitcoin and Solana's SOL token • Binance listed perpetual futures contracts for BONK token on Wednesday, allowing 50x leverage • Historically when Binance lists perpetuals for smaller tokens, it has marked the top for those cryptos' bull runs • For example, PEPE and HIFI tokens crashed after perpetuals were listed during their rallies • BONK's market cap has already pulled back 24% in past 24 hours since listing, similar to historical cases