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In a whirlwind of activity, Bonk (BONK), a Solana-based meme coin, has stunned the cryptocurrency market with an unprecedented 966% surge in the past month.

This surge, catapulting Bonk to the third-largest memecoin by market capitalization, outpacing renowned counterparts, has sparked intrigue and fervour among investors. Let’s delve into the key factors driving Bonk’s meteoric rise.

The 966% price rally has pushed Bonk’s market capitalization to an impressive $1.73 billion, positioning it as the 43rd largest digital asset globally and the third largest memecoin by market cap.

The surge in Bonk’s value is intricately tied to its association with the high-performing Solana (SOL) blockchain. As the “first Dog-themed meme coin on Solana,” Bonk’s fortunes have risen alongside Solana’s remarkable 650% price increase since the start of the year, reaching an astonishing $76 most recently.

While Solana has played a role in BONK’s price surge, the recent listing on major cryptocurrency exchanges has also been a pivotal catalyst in its ascent to the upper echelons of the meme coin market.

Coinbase’s strategic inclusion of Bonk in its experimental “roadmap” program and subsequent listing amplified the memecoin’s visibility. Simultaneously, Binance, the world’s largest exchange by trading volume, listed Bonk with multiple trading options, albeit cautioning users about its elevated risk and potential volatility.

Today (December 15), according to an official announcement, Binance has said that it will add Bonk to its Binance Convert service. The move expands Binance’s offerings for users looking to capitalize on the huge BONK price rally.

Despite facing intense competition from established memecoins, Bonk’s performance has been exceptional, surpassing Dogecoin, Shiba Inu, Pepe, and Floki Inu in a single week.

Bonk’s 150% surge in the past week not only outperformed its peers but also secured its position as the third-largest dog-themed memecoin by market capitalization, trailing only Dogecoin and Shiba Inu. This impressive feat is marked by a renewed interest in Bonk, fueled by exchange listings, promotional incentives, and the optimism surrounding the Solana ecosystem.

Bonk’s staggering price rally, fueled by strategic exchange listings and its association with the Solana blockchain, has positioned it as a force to be reckoned with in the competitive world of memecoins.

As the third-largest memecoin, Bonk continues to captivate the crypto community, leaving observers intrigued about its future trajectory.

The post BONK emerges as third-largest meme coin after 966% surge appeared first on Invezz

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