Shiba

Solana

Bonk

Tornado Cash

Shiba Inu

<p>Bonk, the Shiba Inu-themed token initially launched in December last year, has surged over 900% in the past month. This impressive climb is attributed to a substantial influx of capital into the Solana blockchain and a growing interest in riskier tokens within the network.</p>
<p>Surpassing a remarkable 77% in the last seven days, Bonk has now secured its position as the <a href="https://www.coingecko.com/en/categories/meme-token" target="_blank" rel="noopener noreferrer nofollow">fourth-largest</a> dog-themed token, trailing only behind the iconic Dogecoin (DOGE), Shiba Inu (SHIB) and PEPE. Notably, its market capitalization stands at an impressive $477 million.</p>
<p>BONK is up by 25% in the last 24 hours and is trading at $0.000007816. The coin has surged from a 24-hour low of $0.000006215 to a high of $0.000008543 before falling to its current price.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="692" src="https://captainaltcoin.com/wp-content/uploads/2023/12/chart-39-1024x692.png" alt="" class="wp-image-392645" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/chart-39-1024x692.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/chart-39-300x203.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/chart-39-767x518.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/12/chart-39-1536x1038.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/chart-39-2048x1384.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/chart-39-222x150.png 222w, https://captainaltcoin.com/wp-content/uploads/2023/12/chart-39-100x68.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/chart-39-518x350.png 518w, https://captainaltcoin.com/wp-content/uploads/2023/12/chart-39-788x532.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/12/chart-39.png 1048w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p><em><strong>Source: <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="CoinStats" href="https://captainaltcoin.com/go/coinstats-3/" data-shortcode="true">CoinStats – Start using it today</a></strong></em></p>
<p>Originally conceived as a <a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="meme" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">meme</a> coin, Bonk swiftly gained traction within the Solana ecosystem following its launch. Various Solana-based projects embraced Bonk, integrating the token for transactions related to Non-Fungible Tokens (NFTs).&nbsp;</p>
<p>Several contributing factors have fueled Bonk’s remarkable surge. Firstly, the Solana blockchain, acting as Bonk’s homebase, witnessed a substantial increase in capital, with trading volume soaring from an average of $8 million per day in early November to an impressive $80 million on December 6. This surge in trading activity speaks to the growing prominence of Solana as a preferred blockchain network.</p>
<p>Secondly, investors have displayed a heightened appetite for risk, gravitating towards tokens associated with the Solana network. This increased risk tolerance has played a pivotal role in propelling Bonk to its current status as a leading Shiba Inu-themed token.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/analyst-unveils-weekly-crypto-watchlist-as-bitcoin-surges-sol-matic-and-lunc-take-center-stage/" target="_blank" rel="noopener noreferrer nofollow">Analyst Unveils Weekly Crypto Watchlist As Bitcoin Surges: SOL, MATIC, and LUNC Take Center Stage</a></li>
 <li><a href="https://captainaltcoin.com/bitcoin-btc-bubble-or-bull-run-interpreting-the-mixed-crypto-market-signals/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin (BTC) bubble or Bull Run? Interpreting the Mixed Crypto Market Signals</a></li>
 <li><a href="https://captainaltcoin.com/tornado-cash-dips-56-post-binance-delist-investors-shift-from-render-to-this-new-ai-altcoin/" target="_blank" rel="noopener noreferrer nofollow">Tornado Cash Dips 56% Post-Binance Delist; Investors Shift from Render to this New AI Altcoin</a></li>
</ul>
<p>As Bonk continues to ride the wave of success, its journey underscores the dynamic nature of the crypto space and the evolving preferences within the Solana ecosystem. Investors and enthusiasts are closely watching to see if Bonk can sustain its momentum.</p>
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<p>The post <a href="https://captainaltcoin.com/bonk-surges-to-become-the-fourth-largest-meme-coin-what-sparked-the-rise/" rel="noopener noreferrer nofollow">Bonk Surges to Become the Fourth Largest Meme Coin: What Sparked the Rise?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bonk Surges to Become the Fourth Largest Meme Coin: What Sparked the Rise?

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