There is a recovery in the cryptocurrency market and meme coin ‘s also seem to benefit greatly from this wave. Bitcoin (BTC) leads the market, rising 6.97% to $45,334.10. On the other hand, Solana’s star meme coin BONK is also benefiting from this rise, rising by 8.43% to $0.00001443, according to CoinMarketCap’s data.
BONKThe resurgence of is a function of new funds flowing into the meme coin ecosystem following the first strong rise of 2024 and investors taking short-term gains following the parabolic rise in 2023.
Koinfinans.com As we reported, meme coin was one of the biggest beneficiaries of last year’s rally, rising as much as 6,824% in the last three months. At the time of writing, the meme coin’s trading volume reached $155,054,903 after jumping more than 22% overnight.
With the massive inflow BONK has received, it is on track to take meme coins in other ecosystems to new heights this year. This ambitious move will require a strong tilt from the Solana protocol itself, which is bound to outperform its peers in the pursuit of further parabolic price gains in the short term.
Meme Coin Domination War Is Heating
They look interesting right now thanks to the relevant airdrop that some members of BONK’s ecosystem have qualified for. However, BONK’s appeal is likely to waver against other major competitors in the Solana ecosystem such as Shiba Inu (SHIB), PEPE, Dogecoin (DOGE), and even Dogwifhat and AnaloS.