Bonk Flips Dogwifhat on Its Way to All-Time High—With Solana Along for the Ride
Solana’s top dog Bonk reclaimed its title from Dogwifhat, all while SOL comes close to beating its own record from 2021.With Solana’s price within striking distance of an all-time high, Bonk (BONK) became the network’s largest meme coin by market cap Tuesday, surging past its primary canine competitor.
Rising by nearly 7% over the past day to $0.00005269, Bonk’s total value clocks in above $3.9 billion as of this writing. Meanwhile, Solana’s Dogwifhat (WIF) had fallen 5% to $3.29, ceding its celebratory status to Bonk, as the meme coin’s market decreased to under $3.3 billion.Earlier Tuesday afternoon, Bonk hit a new all-time high price of $0.000057 after previously breaking its own record multiple times since late last week.
Billed as the “social layer” of Solana, the development could be viewed as a return to normal for Bonk, which was embraced by Solana’s community following its launch in December 2022. In March, WIF flipped BONK for the first time, dethroning the go-to meme coin for months.
Whether its BONKbot or BONKSwap, Bonk’s ecosystem can be broken down into several community-led projects that have cropped up around the meme coin over time. Recently, Bonk’s governing DAO embraced an initiative called BURNmas, culminating on Christmas Day.
