Solana’s canine-themed memecoin, Bonk (BONK), has wagged its way to the third spot among memecoins, outpacing Pepe in market capitalization on December 8.
With an astonishing 370% surge in the past month, Bonk’s market cap now stands at $762 million, surpassing Pepe’s $675 million, as per CoinGecko data.
In the last 30 days, BONK has leaped from $0.0000028 to $0.000012, riding the wave of renewed interest in the Solana ecosystem. Notably, Bonk’s rapid ascent eclipses the gains of more established dog-themed memecoins like Shiba (20%) and Dogecoin (35%) in the same timeframe.
As of now, Bonk proudly claims the title of the third-largest memecoin, trailing behind Shiba Inu in second place and the reigning champion, Dogecoin, with market caps of $6 billion and $14.4 billion, respectively.
Bonk’s meteoric rise can be attributed to strategic moves, including listings on major centralized exchanges such as Binance and KuCoin. Moreover, futures data reveals a substantial surge in open interest over the past month, indicating a flurry of trading activities in Bonk derivatives and adding an extra layer of volatility to the token’s price.
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