In the dynamic world of cryptocurrency, a Solana-based dog-themed memecoin named Bonk (BONK) has recently made headlines by becoming the third-largest memecoin in market capitalization. As of December 8, Bonk has surpassed the well-known memecoin Pepe market cap.
According to CoinGecko data, Bonk’s market capitalization has soared to $762 million following a remarkable 370% growth last month. This surge has outstripped Pepe’s current market cap of $675 million.
Over the past 30 days, BONK’s value has climbed from $0.0000028 to $0.000012, with traders eagerly capitalizing on the renewed interest in the Solana ecosystem. Bonk’s price surge has even eclipsed the growth of other established dog-themed memecoins like Shiba and Dogecoin, which have seen gains of 20% and 35% in the same period.
Bonk ranks as the third-largest memecoin, trailing behind Shiba Inu and Dogecoin, which have market caps of $6 billion and $14.4 billion, respectively.
Several factors have contributed to Bonk’s dramatic gains. Key among them is its listing on major centralized exchanges such as Binance and KuCoin. Additionally, futures data indicate a significant increase in open interest over the past month, signaling high trading volumes in Bonk derivatives. This activity has further fueled the token’s price volatility.
Launched on December 29, 2022, BONK experienced a staggering 3,766% increase in its first week of trading despite the prevailing bear market conditions. After a period of decline and stagnation near its all-time lows for much of the year, Bonk began showing signs of recovery on October 21, 2023. Since that date, Bonk has recorded a 6215% increase, making it the most high-performing mid-cap memecoin in the last three months.
