Bonk (CRYPTO: BONK) has rallied 42% in the past week, prompting traders to point out its relative strength over other meme coins.
What Happened: The meme coin has secured its position as the top Solana-based meme coin and the fourth largest meme coin overall.
With a market cap of $4 billion and a 24-hour trading volume of $3.6 billion, Bonk has surpassed Dogwifhat's (CRYPTO: WIF) $3.2 billion valuation and $1 billion trading volume.
As of Nov.19, BONKBot has burned over 500 billion BONK tokens, valued at $26 million.
The platform allocates 100% of its fees to buy BONK, with 10% immediately burned, contributing to its deflationary tokenomics.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Bonk (CRYPTO: BONK) | $0.000054 | $4.05 Billion | +5.4% | +42.4% |
| Dogwifhat (CRYPTO: WIF) | $3.25 | $3.2 Billion | -4.8% | +1.1% |
| Shiba Inu (CRYPTO: SHIB) | $0.00002451 | $14.5 Billion | -2% | -3.9% |
| Pepe (CRYPTO: PEPE) | $0.00002017 | $8.5 Billion | +1.1% | +13.9% |
Trader Notes: Unipcs, known as BONK Guy, highlights Bonk's dominance:
- Exceeding Solana's trading volume on Coinbase.
- Surpassing the combined trading volumes of Pepe, Shiba Inu, and Dogwifhat on Coinbase.
- Ranking second only to Dogecoin (CRYPTO: DOGE) in meme coin trading volume on Upbit, while globally being the 7th most-traded cryptocurrency (excluding stablecoins).
Unipcs predicts Bonk's sustained trading momentum could trigger an aggressive price surge, describing the potential for a "parabolic" rise.
Trader Zer0 and Altcoin Sherpa echo bullish sentiments, with Sherpa emphasizing Bonk's dominance, stating, "Why buy any other meme coin when Bonk is the strongest?" Trader Zer0 sees Bonk is in the middle of its expansion, and it has only begun.
if actively trading CEX coins, why would you buy anything other than $BONK? clearly the strongest one lately pic.twitter.com/jjOse2Qp5F
— Altcoin Sherpa (@AltcoinSherpa) November 20, 2024
Community News: South Korean exchange Upbit listed the Bonk/KRW pair effective today.
- BONK Up 95% Over The Past Week: 'Deflationary Dog Money' Could Rival Shiba Inu's 2021 Rally, Says Veteran Trader
Image: Shutterstock
