Solana-based meme coin BONK climbs to 69th position on CoinGecko
BONK, a meme coin built on the Solana blockchain, has surged in popularity and now ranks 69th on CoinGecko’s list of the most valuable cryptocurrencies. Its market cap has exceeded $1 billion for the first time, highlighting its rapid growth.
BONK skyrockets after Coinbase listing
BONK’s price has experienced a significant boost following its listing on Coinbase, the largest crypto exchange in the United States. Within 24 hours, the price of BONK increased by 64% and reached a new all-time high. Although it briefly dipped by 6%, it quickly recovered and currently boasts a market cap of nearly $1.05 billion.
Rapid rise and impressive gains
Over the past week, BONK has seen a remarkable 75% increase, and its gains over the last month have reached an impressive 791%. This surge in value is significantly higher than that of Solana’s native SOL coin.
BONK leads as top gainer among cryptocurrencies
BONK has emerged as the top gainer among the top 100 cryptocurrencies in the past day, outperforming other popular tokens such as WOO and ORDI. Meanwhile, Solana’s SOL coin has also experienced substantial growth with a 9% increase.
Market cap comparison with Dogecoin and Shiba Inu
While BONK’s market cap has surpassed $1 billion, it still lags behind larger meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB), which have market caps of $13.9 billion and $5.9 billion, respectively.
Hot Take: BONK’s explosive growth reflects the popularity of meme coins
BONK’s rapid ascent in market cap and price exemplifies the fervor surrounding meme coins within the cryptocurrency market. Its success on Coinbase and its position on CoinGecko’s rankings underscore the growing interest in these tokens. However, investors should remain cautious due to the inherent volatility associated with meme coins.
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