This Solana-Based Meme Coin Reached All-Time Highs Again, Even As Shiba Inu, Dogecoin Slip

BONK BONK/USD, the meme coin based on the Solana SOL/USD blockchain, has shown a surge of 36% within the last day, outperforming top cryptocurrencies like Bitcoin BTC/USD, Ethereum ETH/USD, and even the original dog-themed meme coin, Dogecoin DOGE/USD.

What Happened: The price hike has propelled BONK to the forefront as the current top performer on the CoinMarketCap top performer list, with its trading value reaching $0.000010. 

While BONK celebrates its ascent, Bitcoin, Dogecoin and Shiba Inu SHIB/USD experienced a slight downturn with a 1-2% decrease. Ethereum saw a 5% increase on Thursday evening.

Amidst its upward trajectory, BONK reached a new all-time high, achieving $0.000011 on Thursday. 

In the last 30 days, BONK skyrocketed over 946%. This surge is largely credited to the burgeoning investor interest surrounding the Solana blockchain platform, the technological backbone for BONK’s operations.

The rise in trading activity also comes as KuCoin, a crypto exchange, also listed BONK this week via the BONK/USDT trading pair.

See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals

Why It Matters: Data from LunarCrush revealed that BONK’s Social Dominance has skyrocketed by 116.3%, amounting to over 35.23 million social interactions. This metric, known as Social Dominance, is an indicator of a cryptocurrency’s footprint, often referred to as the “share of voice” across social media data.

BONK witnessed its trading volume balloon by 108.67%, reaching $196 million over a 24-hour period, according to the latest CoinMarket data.

Photo by rafapress on Shutterstock

Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyNewsMarketsBONKSolana
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!