Historical past is being made this very second—as long as you contemplate the fortunes of dog-themed meme cash to be a legitimate topic of historic inquiry.
On Tuesday, ascendant Solana-based canine crypto token BONK hit one other main milestone: It now sits among the many prime three “dog-themed cash” by market capitalization, having dethroned the Ethereum-based, Shiba Inu-inspired token FLOKI earlier at present.
BONK at present boasts a market capitalization of practically $443 million, in accordance with CoinGecko. That’s sufficient to slide previous FLOKI, the meme coin created in 2021 in honor of Elon Musk’s Shiba Inu, which at present sits at a $422 million market cap.
It’s been an amazing autumn for BONK, which is up an astounding 876% during the last month. In a latest interval from late October to late November, the coin surged a whopping 1,700%. Within the final day, BONK rose one other 24%, hitting one more new all-time excessive of $0.00000731 shortly earlier than this text posted.
These beneficial properties have now put the once-humble BONK in (relative) proximity to the titans of the canine coin universe: Dogecoin (DOGE) and Shiba Inu (SHIB).
However whereas BONK can now take pleasure in sharing prime (three) canine standing with these storied meme cash, it’s a good distance from greatest in present: DOGE’s market cap at present sits at practically $13 billion. SHIB instructions simply over $5.5 billion.
A lot of BONK’s latest success might be attributed to the rising fortunes of its mother or father community, Solana.
After a principally dismal 12 months for Solana, kicked off final December by the implosion of FTX—which closely associated itself with the blockchain—SOL lastly broke the fever throughout Sam Bankman-Fried’s criminal trial final month. Since opening statements within the trial in early October, SOL has virtually tripled in worth to almost $61 as of this writing.
Die-hard supporters of Solana and BONK are hopeful latest beneficial properties are solely the beginning of an much more large comeback for the crypto ecosystem. At SOL’s all-time excessive in late 2021, the coin practically hit $260.
Edited by Andrew Hayward