Bonk Token Overtakes Pepecoin to Become Latest Riot on Memecoin Block: Everything to Know

The market-reviving milestone that took hold in late October this year led to a 110 percent year-over-year increase in the total crypto market cap. During this time, which increased the crypto market cap to $1.6 trillion, investors were not too hesitant to get involved with some of the new crypto tokens on the block, one of them being BONK. A dog-themed memecoin, Bonk is based on the eco-friendly Solana blockchain and was first introduced to the market in December 2022.

Over the past few days, BONK has overtaken recent memecoin star Pepecoin in terms of its market cap. Over the last 30 days, the price of BONK token increased from $0.0000028 (approximately Rs 0.00023) to $0.000012 (approximately Rs 0.0010).

After recording monthly market cap growth of 370 percent, the valuation of BONK token touched the $762 million (roughly Rs. 6,353 crore) mark before declining amid market volatility. In recent days, Bonk’s market cap officially surpassed Pepecoin’s valuation of $675 million (roughly Rs. 5,628 crores), a Cointelegraph report said, citing data from CoinGecko.

The BONK token is now the third-largest meme coin on the block, close to the top two meme coins DOGE and SHIB, which have a market capitalization of $14.4 billion (roughly Rs. 1,20,070 crores) and $6 billion (roughly Rs. 50,029 crores) respectively.

Corresponding to the Shiba Inu dog breed, BONK token was also recently listed on international crypto exchanges such as Binance and KuCoin, an essential factor driving the overall growth of BONK.

First launched on December 29 last year, BONK had managed to gain 3,766 percent within its first week of trading.

Between January and mid-October this year, the token failed to see any notable action. Cointelegraph reports that with the increase in sales of Solana-based NFTs, the BONK token also started showing signs of growth around October 21.

Along with BONK, Ordi is another meme coin that has managed to gain major traction from the investor community in recent weeks. Ordi Token, the first BRC-20 crypto token on the Bitcoin blockchain, recently reached its all-time high of $65.06 (approximately Rs 5,422). In the last seven days, the token saw a price increase of 148 percent. Over the past 30 days, the ORDI token has increased by a massive 500 percent, in support of Bitcoin’s bullishness.

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