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Solana-based meme coins <a href="https://crypto.news/tag/bonk/">Bonk </a>(BONK) and <a href="https://crypto.news/tag/floki/">Floki </a>(FLOKI) have outshined most of the popular meme coins with over a 15% surge in the last 24 hours. 
At the time of writing, BONK was up 17%, exchanging hands at $0.000022. The crypto asset’s market cap is currently sitting at $1.53 billion, marking it the 56th largest cryptocurrency per data from CoinMarketCap. 
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 BONK 24-hour price chart | Source: CoinMarketCap
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The token’s daily trading volume doubled over the past day, reaching almost $300 million. However, BONK is still down 46% from its all-time high of $0.000041, which it attained on May 29. 
Bonk is a meme coin that rose to prominence in 2023, surging as a new boom in meme coins drove Solana higher. 
Originally just another dog-themed meme coin, it has gradually expanded its utility to include decentralized finance (DeFi) integration. The project also works with cross-chain communications protocols, NFT marketplaces, and other crypto market ecosystems. 
BONK trading pairs are now listed on popular exchanges, including Binance, Coinbase, OKX, and <a href="https://crypto.news/bonk-now-listed-on-bitstamp/">Bitstamp</a>. 
Meanwhile, Floki, another canine-themed meme coin on the Solana blockchain, has also seen its price surge by 15% in the last 24 hours. The crypto asset, now trading at $0.000172, has its market cap hovering close to $1.64 billion with a daily trading volume of $301 million. 
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 <img loading="lazy" decoding="async" width="1024" height="683" src="https://crypto.news/app/uploads/2024/06/FLOKI_1D_graph_coinmarketcap-1024x683.png" alt="Solana-based meme coins BONK and FLOKI surge amidst market downturn - 22"> 
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 FLOKI 24-hour price chart | Source: CoinMarketCap
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 You might also like: <a href="https://crypto.news/wif-surges-23-as-investors-discuss-buying-opportunities/"> WIF surges 23% as investors discuss buying opportunities </a> 
The surge in Floki followed after a whale, dubbed “0x403,” <a href="https://x.com/OnchainDataNerd/status/1803753173821391300" target="_blank" rel="">staked 14 billion FLOKI tokens </a>valued at around $2.36 million. 
The whale’s decision to stake such a large sum is interpreted as a strong vote of confidence in Floki Inu’s long-term potential. Staking essentially removes these tokens from circulation, resulting in scarcity. With fewer FLOKI tokens available, supply and demand could drive up the price. 
Among the other major dog-themed meme coin players, dogwhifhat (WIF) and Dogecoin (DOGE) recorded gains of 15% and 2%, respectively, in the past 24 hours. Meanwhile, Shiba Inu (SHIB) was seen with a 0.22% drop in the same timeframe. 
Meanwhile, the global cryptocurrency market is still reeling from a 1.4% drop, bringing its market capitalization to $2.24 trillion. 
The world’s leading cryptocurrency by market cap, Bitcoin, is seen in the red with a 3.36% drop in the last 24 hours, currently being traded at $60,670. 
 Read more: <a href="https://crypto.news/trump-is-in-talks-to-speak-at-bitcoin-2024-in-july-report/"> Trump is in talks to speak at Bitcoin 2024 in July: report </a>

Solana-based meme coins BONK and FLOKI surge amidst market downturn

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