#Solana #BONK #MemeCoin #CryptoMarket #Dogecoin #ShibaInu #PEPE #FLOKI
The cryptocurrency market has seen a sharp rise in meme coins centered around the Solana platform. One such currency, BONK, has consistently outperformed its counterparts such as Dogecoin and Shiba Inu. The surge in the price of SOL (Solana’s native token) has also catalyzed a rise in the value of cryptocurrency coins within its ecosystem. This chain reaction has resulted in BONK taking up the mantle as the third-largest meme coin in the industry.
BONK overpowered PEPE, another meme coin which had held a larger market share for a long period despite being introduced to the market later than BONK. After experiencing an over 60% decline from its all-time high, PEPE has finally relinquished its dominance. Over the past week, the price of BONK has steadily escalated, eventually surpassing the $0.000012 mark, leading the cryptocurrency to a market cap of over $700 million, thereby beating PEPE’s market cap of $650 million. In the end, BONK’s market cap stands at $717 million. Over seven days, BONK has seen an impressive 192% rise compared to PEPE’s 40% and FLOKI’s 27%, outperforming the top 10 meme coins by market cap. Currently, BONK’s daily trading volume is reported at $213 million, showcasing a significant 119% increase.
The success story of BONK doesn’t undermine the performance of other meme coins in the market. Despite not matching up to BONK’s success in recent times, popular meme coins such as Dogecoin and Shiba Inu have seen positive trends. Both coins have experienced commendable runs over the past week, with DOGE witnessing a 15.4% rise and SHIB surging by 20.1%. Shiba Inu’s volatility remains high, which historically implies a potential bullish run. Dogecoin has several upcoming events that could lead to a price rally, including the Dogecoin moon mission in December 2022 and the DOGE-1 mission in 2024. Hence, the meme coin market continues its vibrant dance of ups and downs, leaving investors on the edge of their seats.
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