FLOKI

Bonk

Shiba Inu

Coin

The Solana-based dog-themed crypto token, BONK, has soared to new heights, securing its place among the top three “dog-themed coins” by <a href="https://coingape.com/glossary/market-capitalization/" target="_blank" rel="noopener noreferrer nofollow">market capitalization</a>. This achievement comes as BONK surpasses the Ethereum-based FLOKI with a slight margin of over $500 million market cap.
<h2 id="bonk-s-meteoric-price-surge">BONK’s Meteoric Price Surge</h2>
BONK’s remarkable journey includes an astonishing 876% surge over the last month, with a staggering 1,700% increase from late October to late November. The coin’s recent 24% rise, reaching a new all-time high of $0.00000850, underscores its unprecedented momentum.
The competitor FLOKI also <a href="https://coingape.com/here-why-floki-price-skyrockets-24/" target="_blank" rel="noopener noreferrer nofollow">experienced a 24% increase</a> on the previous day which took it to 3rd place in <a rel="noopener noreferrer nofollow" href="https://www.coingecko.com/en/categories/dog-themed-coins" target="_blank">dog-themed tokens</a> in terms of Market cap which BONK replaced currently.
However, despite BONK’s ascent, it still has a considerable gap to bridge compared to the titans of the dog coin universe – Dogecoin (DOGE) and Shiba Inu (SHIB). DOGE’s market cap nears $14 billion, while SHIB commands just over $5.9 billion.
Much of BONK’s success is attributed to the renewal of its parent network, Solana, which has experienced a resurgence following a challenging year. With SOL’s value nearly tripling to $61 since the beginning of Sam Bankman-Fried’s trial last month, enthusiasts anticipate a more substantial comeback for the entire <a href="https://coingape.com/glossary/cryptocurrency/" rel="noopener noreferrer nofollow">cryptocurrency</a> ecosystem.
Previously, multiple developers stated that a team of 22 people, with no single leader, actively participated in the development of the Bonk project. On Solana, they have all previously produced <a href="https://coingape.com/glossary/decentralized-applications-dapps/" target="_blank" rel="noopener noreferrer nofollow">decentralized applications (Dapps)</a>, non-fungible tokens (NFT), and other similar items.
Also Read: <a href="https://coingape.com/terra-founder-do-kwon-appeals-against-extradition-decision-of-montenegrin-court/?utm_source=24hrsupdateall" rel="noopener noreferrer nofollow">Terra founder Do Kwon Appeals Against Extradition Decision of Montenegrin Court</a>
<h2 id="challenges-among-top-meme-coins">Challenges Among Top Meme Coins</h2>
With a market cap of approximately $472 million, Bonk Inu sits in third place among top dog-themed coins, trailing behind Shiba Inu (SHIB) and Dogecoin (DOGE). The coin’s significant 24-hour trading volume of $84 million signals active investor interest.
As Bonk Inu’s trajectory and potential for further gains remain uncertain, there’s speculation about its ability to dethrone PEPE, which currently boasts a market cap of $592 million. However, it’s crucial to note that Bonk Inu still has a considerable gap to close compared to the colossal <a href="https://coingape.com/meme-coin/" target="_blank" rel="noopener noreferrer nofollow">meme coin</a> market caps of SHIB and DOGE.
Also Read: <a href="https://coingape.com/shiba-inu-price-soars-as-shib-surpasses-ltc-and-dai/?utm_source=24hrsupdateall" rel="noopener noreferrer nofollow">Shiba Inu Price Soars As SHIB Surpasses LTC and DAI</a>
The post <a rel="noopener noreferrer nofollow" href="https://coingape.com/bonk-surpasses-floki-to-become-3rd-largest-dog-themed-coin-by-market-cap/">BONK Surpasses FLOKI To Become 3rd Largest Dog-Themed Coin By Market Cap</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coingape.com">CoinGape</a>.

BONK Surpasses FLOKI To Become 3rd Largest Dog-Themed Coin By Market Cap

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