Rally Alert: Solana Dog Token BONK Leads Dog Coins Surge — Will The Rally Peak Further?

Dog-themed cryptocurrencies, or dog coins, are currently outperforming the broader crypto market. The list includes Dogecoin DOGE/USD, Floki FLOKI/USD, Solana-native dog coin Bonk BONKI/USD and Shiba Inu SHIB/USD.

What Happened: A quick snapshot of the dog coins, market caps and the past month's gains (below) also highlighted the past 24-hour trading volumes. Bonki had seen a significant 1,441% rally which was ahead of all the top 25 cryptocurrencies by market cap, which on average have gained 40%, as reported by Blockworks.

A possible reason for BONK to surge could be Solana’s SOL/USD outperformance in the recent bullish run of the crypto market.

Last Christmas, BONK launched when creators airdropped half of its supply to certain Solana users. BONK was on the constant run to find growth by securing the maximum integrations possible across DeFi, gambling apps and wallets.

Why It Matters: Dogecoin millionaire Glauber Contessoto announced last week that he planned to make conviction plays on 10 additional altcoin projects for the next crypto bull run. With full belief in Dogecoin's potential, he included meme coin projects such as Pepe Coin PEPE/USD. 

HarryPotterObamaSonic10Inu, LUKSO LUKSO/USD, KASPA KAS/USD and Avalanche AVAX/USD are also a part of the list.

Notably, Floki announced on its official blog it had a strategic marketing partnership with two legendary Indian cricket teams. This step will lead the token into the mainstream in India and South Asia, thereby touching the global space.

Shiba Inu announced a partnership with boxing star and politician Manny Pacquiao wherein the token will be used to optimize fundraising, distribution and other operations.

Whale Movement: On Nov.16, 2023, a Dogecoin whale transferred more than 103 million Dogecoin from the trading platform Robinhood. Also, a significant transfer of 690 million Dogecoin was seen between unknown wallets.

Recent news about sending physical Dogecoin tokens to the moon in December generated significant interest among Dogecoin enthusiasts and investors. It is a project by space payload transporter Astrobotic.

Photos: Shutterstock, Bonk site