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. $SOL
