The BONK cryptocurrency has surpassed the total market worth of the Elon Musk-themed coin FLOKI, capping off a month of remarkable advances. So long as you consider the fortunes of dog-themed meme coins to be a genuine subject of historical research, history is being made right now.
BONK, the surging Solana-based canine cryptocurrency, reached another big milestone on Tuesday: it is now one of the top three "dog-themed coins" by market capitalization, having dethroned the #Ethereum -based, $SHIB Inu-inspired token FLOKI earlier today.
A report from CoinGecko, BONK has a market value of about $443 million. That's enough to outperform #FLOKI , the meme currency launched in 2021 in honor of Elon Musk's Shiba Inu, which presently has a market valuation of $422 million. BONK has had a fantastic autumn, rising an amazing 876% in the last month. From late October to late November, the currency increased by a stunning 1,700%. $bonk gained further twenty-four percent in the previous day, reaching a new all-time high of $0.00000731 soon before this article was published.
These advances have brought the once-humble BONK into (relative) closeness to the dog currency titans, Dogecoin (DOGE) and Shiba Inu (SHIB).
While BONK now shares top (three) dog status with those renowned joke currencies, it's still a long way from best in the show: #Doge🦊 s market valuation is about $13 billion. SHIB is worth little more than $5.5 billion.
Much of BONK's recent success may be ascribed to its parent network, Solana's, expanding fortunes.
Following a mainly bad year as Solana, which began last December with the implosion of FTX, which was intimately tied with the blockchain, SOL finally broke the fever last month during Sam Bankman-Fried's criminal trial. SOL has roughly quadrupled in value since the trial began in early October, reaching over $61 as of this writing.
#Solana and #BONK followers are hoping that recent advances are only the beginning of an even bigger resurgence for the crypto sector. Solana almost reached $260 at its all-time high in late 2021.
As stated by: decrypt.
