Memecoins
BONK Surpasses Floki Inu to Become Fifth Largest Memecoin
Solana-based meme coin Bonk Inu (BONK) has surpassed Floki Inu (FLOKI) in terms of market capitalization, becoming the fifth largest meme coin.
The cryptocurrency market has undergone a correction in recent weeks, with leading digital assets like Bitcoin (BTC), Ethereum (ETH), Solana (GROUND), Dogecoin (DOGE) and others are experiencing significant price drops.
Although the majority of meme coins are in decline, there are a few exceptions. For example, Bonk Inu (BONK) saw an increase of almost 55% over the past two weeks, according to data from CoinMarketCap.
BONK 24-Hour Price Chart | Source: CoinMarketCap
Its market valuation reached $1.47 billion, surpassing Floki Inu (FLOKI) to become the fifth largest coin. BONK now ranks 58th among cryptocurrencies, surpassing popular cryptocurrencies like Axie Infinity (AXS), The Sandbox (SAND), Aave (AAVE), and Algorand (ALGO).
It is also the second largest coin on the Solana blockchain, behind Dogewihat (WIF). The market value of the latter soared to nearly $5 billion at the end of March before falling back to around $2.4 billion.
Bonk Inu first appeared in December 2022 but didn’t make headlines until after a year later, when its price rose dramatically, driven by strong investor interest, support from prominent figures, and listings on major cryptocurrency exchanges.
As previously reported by crypto.news, platforms such as Binance, CoinbaseBybit, Kraken and KuCoin have already listed BONK.
According to CoinMarketCap, the overall market capitalization of meme coins decreased by 8.4% over the past day to $45 billion. Dogecoin (DOGE) continues to lead the category with a market capitalization of $18.8 billion, followed by Shiba Inu (SHIB) with $12.9 billion.