BICO Jumps 90% in 24 Hours as Biconomy Listing News Spurs Buying
Summary
- BICO rose more than 90% over 24 hours, bringing its price to $0.0632 and its market capitalization to about $64 million.
- Plans by Biconomy exchange to list Dream Bowl I Meme Coin Tokens are being cited as a driver of buying in BICO-related names.
- Market participants said the new listing issue tied to Biconomy exchange acted as a short-term catalyst for BICO's surge, though investors should remain cautious about price volatility.
Forecast Trend Report by Period
BICO jumped more than 90% over the past 24 hours as investors piled into tokens linked to Biconomy exchange amid fresh listing news.
Data from global cryptocurrency exchange Binance on June 21 showed BICO up more than 90% over the previous 24 hours. The token traded at $0.0632, with a market capitalization of about $64 million.
The rally has been tied to plans by Biconomy exchange to list Dream Bowl I Meme Coin Tokens.
Scilex Holding Company, a Nasdaq-listed US company, announced on June 16 that the Dream Bowl token could begin trading on Biconomy as early as June 23.
Scilex previously said the listing could provide liquidity for Dream Bowl token holders and enable broader distribution of the token.
Dream Bowl tokens are being distributed to Scilex common shareholders and certain eligible equity holders. Holders as of April 30 were entitled to receive five Dream Bowl tokens for each share of Scilex common stock, and distribution began on May 26.
Market participants view the Biconomy-related listing as a short-term catalyst for BICO's surge. Still, the token set to be listed is Dream Bowl, not BICO itself, underscoring the risk of price volatility.
