History has been chose to make this very moment—so lengthy while you think about the fortunes of dog-themed meme coins to become a valid subject of historic inquiry.
On Tuesday, ascendant Solana-based canine crypto token BONK hit another major milestone: It now sits one of the top three “dog-themed coins” by market capital, getting dethroned the Ethereum-based, Shiba Inu-inspired token FLOKI earlier today.
BONK presently has a market capital of nearly $443 million, based on CoinGecko. That’s enough to slide past FLOKI, the meme gold coin produced in 2021 in recognition of Elon Musk’s Shiba Inu, which presently sits in a $422 million market cap.
It’s been a significant fall for BONK, that is up a fantastic 876% during the last month. Inside a recent period from late October to late November, the gold coin surged an astonishing 1,700%. Within the last day, BONK rose another 24%, hitting another new all-time a lot of $.00000731 shortly before article published.
Individuals gains have finally place the once-humble BONK in (relative) closeness towards the titans from the dog gold coin world: Dogecoin (DOGE) and Shiba Inu (SHIB).
But while BONK are now able to enjoy discussing top (three) dog status with individuals storied meme coins, it’s a lengthy way from very best in show: DOGE’s market cap presently sits at nearly $13 billion. SHIB instructions approximately $5.5 billion.
A lot of BONK’s recent success could be related to the increasing fortunes of their parent network, Solana.
Following a mostly dismal year for Solana, began last December through the implosion of FTX—which carefully connected itself using the blockchain—SOL finally broke the fever during Mike Bankman-Fried’s criminal trial recently. Since opening statements within the trial at the begining of October, SOL has almost tripled in value to almost $61 at this moment.
Die-hard supporters of Solana and BONK are hopeful recent gains are just the beginning of a much more massive comeback for that crypto ecosystem. At SOL’s all-time full of late 2021, the gold coin nearly hit $260.
Edited by Andrew Hayward
