BONK Surpasses PEPE: Solana’s Memecoin Shift

In a recent market downturn, BONK, a Solana-based memecoin, has surged, surpassing PEPE in market cap.

BONK’s Recent Growth
Experiencing a 370% surge in the last month, BONK has emerged as the third-largest memecoin, outranking PEPE, propelled by its listing on KuCoin and rumors of a possible Coinbase listing.

Solana’s Market Influence
While SOL and BONK faced a market dip, Solana-based projects like Jito’s JTO gained momentum, underscoring growing interest in Solana-associated tokens amid market fluctuations.

BONK Leads Over PEPE
BONK, a favored Solana memecoin, has dethroned PEPE, securing its position as the third-largest memecoin by market capitalization, as per CoinMarketCap data.

Recording a staggering 370% price surge in the last 30 days, BONK soared to a fully diluted value (FDV) of $1,248,899,516 and a market cap of around $810 million.

BONK’s exponential growth, outpacing SHIB (20%) and DOGE (35%), signifies its ascent in the meme coin arena. However, closing the gap with the leading memecoins, valued at approximately $5.9 billion and $13.9 billion, remains a substantial challenge.

The surge in BONK’s value traces back to various factors. KuCoin’s listing significantly boosted the token, alongside surging memecoin enthusiasm and Solana’s escalating investor interest.

The most influential factor seems to be speculative talks about Coinbase potentially listing BONK. On-chain analysis indicating Coinbase’s testing of the coin, a pre-listing norm, has fueled market speculation.

Solana Tokens Under Spotlight
Recent market dynamics favored SOL and BONK. However, the broader market correction led to a decline of over $80 billion. SOL, currently at $69, faces a crucial support level at $68 to mark new all-time highs.

Meanwhile, attention gravitates towards Solana-based projects like Jito, where its native token, JTO, surged over 100% within just 24 hours post-launch, capturing significant attention in the SOL community.