Solana’s BONK Becomes 69th Largest Coin as Market Cap Tops $1 Billion

Solana-based meme coin BONK solidified its meme status Thursday morning, landing at 69th on CoinGecko’s ranking of the most valuable cryptocurrencies as its market cap surged above $1 billion for the first time ever.

BONK is booming again, as it has over the past several weeks, popping 64% over the past 24 hours as of this writing to set another all-time high price. The price for the Solana token jumped as high as $0.00001755 late Thursday morning after BONK was listed on Coinbase, America’s largest crypto exchange.

Meme coins are famously volatile, however, and BONK is no different. It quickly dipped about 6%, but then continued climbing to nearly match its all-time high again with a current market cap of nearly $1.05 billion.

BONK has now marked a sizable 75% rise over the past seven days, with its gains extending to 791% over the past 30 days. Solana’s own SOL coin has seen a similarly rapid rise over the past couple months, but BONK is riding that sentiment to a much higher multiple.

Thanks to @coinbase for helping the BONKmas celebrations shine even brighter! https://t.co/fKhNaD6vbm pic.twitter.com/fle8RGYFts

— Bonk! (@bonk_inu) December 13, 2023

It’s by far the biggest gainer in the top 100 cryptocurrencies over the past day, with the Ethereum-based WOO token (up 33%) and Bitcoin-based ORDI (up almost 32%) ranking right behind.

SOL itself is up nearly 9% on the day to a current price above $73, while fellow dog-inspired meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) aren’t quite as buzzy today, each posting gains around 5% over the past 24 hours.

Best in Show? Solana’s BONK Joins Dogecoin and SHIB as Top Dog Coins

BONK now joins those two larger meme coins with a market cap above $1 billion, although the Solana coin still has substantial ground to make up if it wants to match those higher-ranking leaders—DOGE is ranked 11th with a market cap of about $13.9 billion, with SHIB trailing behind at 18th with a market cap of about $5.9 billion.

Edited by Stacy Elliott.

Source