Bonk ranked quantity three amongst meme cash on Dec. 8, behind solely Dogecoin in first place and Shiba Inu in second.
Bonk, a canine-themed crypto on Solana, flipped fellow meme coin Pepe (PEPE) after rallying over 25 % inside 24 hours.
The worth acquire pushed BONK to a $770 million market cap, climbing over Pepe-The-Frog-inspired PEPE with its $630 million market cap.
Solely the decade-old Dogecoin (DOGE) and Shiba Inu (SHIB) boast increased valuations than BONK. At press time, the tokens had a market cap of over $13.9 billion and $5.9 billion, respectively.
Meme cash have been a relentless in crypto all through its historical past, sometimes rising in value amid broader market upticks. Such digital currencies, often related to an animal, have been additionally handed a boon in 2023 as consideration surrounding spot Bitcoin ETFs seemingly spurred an inflow of money injections into digital property.
Solana’s blockchain additionally skilled an enormous $1 billion buying and selling quantity over 24 hours. The community noticed extra on-chain buying and selling exercise than Arbitrum, Binance Good Chain, Polygon, Avalanche, and Thorchain.
Ethereum was the only community with extra buying and selling quantity than Solana, per DefiLlama. Crypto’s largest altcoin blockchain recorded $1.4 billion inside the similar timeframe.
