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Bonk, the most popular memecoin in the Solana ecosystem, has caused a significant shift in the memecoin front by surpassing Pepe. The 370% increase in Bonk’s value over the last month has raised its market value to $714 million. According to the latest data from CoinGecko, this growth surpasses Pepe’s current market value of $675 million.
Why is Bonk Rising?
The extraordinary rise of Bonk’s price from 0.0000028 dollars to 0.000012 dollars in just 30 days caught the attention of investors wishing to take advantage of the growing interest in the Solana ecosystem. This extraordinary growth rate outperformed Pepe’s performance. In addition, Bonk managed to leave behind the gains of popular memecoins such as Shiba Inu and Dogecoin. While Shiba Inu rose by 20% and Dogecoin by 35%, Bonk led the memecoin market with a 370% increase.
Several key factors emerged in Bonk’s rapid rise. The listing of the memecoin on centralized exchanges such as Binance and KuCoin played a very important role in this process. Additionally, the interest of investors in Bonk in the futures market also played a significant role.
Noteworthy Details About Bonk
Bonk experienced a massive rise of 3,766% in its first week following its launch on December 29, 2022. After a period of decline and balance, the token began to show signs of recovery on October 21, 2023. Since then, Bonk has recorded a gain of 6215%, becoming the highest-performing memecoin in the last three months.
Recently, Bonk continued its rise, reaching an all-time high of 0.00001468 dollars. This new peak has further solidified its position in the market. With its market value, Bonk currently ranks 82nd in the crypto market, transforming into the third largest dog-themed cryptocurrency asset by market value, surpassing Floki.
Despite all this, despite the selling pressure in the crypto market in the last 24 hours, Bonk experienced a slight decline while maintaining the support level of 0.00001065 dollars and the price quickly recovered. This resilience shows the strong confidence investors have in the project and predicts that it will continue to perform strongly in a short time.
