Recently, the memecoin BONK has recorded impressive growth, making it the third-largest market cap-themed dog-themed memecoin.
In the past week, BONK has become the top-performing memecoin, surpassing DOGE, SHIB, PEPE, and FLOKI. Specifically, BONK has surged by 150% in the past week and 370% in just one month, going from $0.0000028 USD to $0.000015 USD – marking an all-time high for BONK. Notably, this price fluctuation has pushed BONK’s market cap to $762 million USD, making it the third-largest dog-themed memecoin by market cap, just behind Dogecoin and Shiba Inu.
At the time of writing, BONK is trading around $0.00011 USD, experiencing some adjustments following Bitcoin’s price drop to $40,400 USD earlier today.
The impressive growth of BONK has been greatly influenced by the increased interest from the community in the Solana ecosystem (SOL price surging past $73 USD and prominent Solana NFT collections like Mad Labs seeing skyrocketing gains).
Furthermore, its listing on the KuCoin exchange has played a significant role in this price surge. Traditionally, exchange listings tend to cause a sharp increase in prices leading up to the actual listing date. In BONK’s case, the KuCoin listing came with additional promotional incentives, offering rewards of up to $58,000 USD.
Regarding other memecoins like Floki, Pepe, Dogecoin, and Shiba Inu, all have also seen significant increases in the past week.
BONK is a Solana-based memecoin that was launched on December 29, 2022. Just one week after its launch, the price of BONK skyrocketed by 766% despite the bearish market conditions. However, this joy was short-lived as BONK began to decline. By October 21, 2023, this memecoin showed signs of recovery.