By Nermeen Nabil Khear 
The post BONK Overtakes WIF, Becomes Solana’s Leading Meme Coin appeared first on Coinpedia Fintech News
Bonk (BONK), the popular Solana-based meme coin, is making headlines in the cryptocurrency world with its impressive price performance following a notable announcement. On November 17, 2024, Bonk’s Decentralized Autonomous Organization (DAO) announced that it would burn nearly 1 trillion tokens on December 25, 2024.
BONK Surpasses WIF in Market Cap
Following this strategic announcement, BONK has registered a massive gain of over 11% in the past 24 hours and outpaced Solana’s biggest meme coin Dogwifhat (WIF) and became SOL’s leading meme coin. With a notable price surge, BONK’s market cap has surpassed WIF’s, reaching $3.94 billion compared to WIF’s $3.60 billion.
Trading Volume and Market Reaction
Currently, BONK is trading near $0.0000513 and recently reached an all-time high of $0.0000566. During the same period, its trading volume increased by 73%, indicating heightened participation from traders following the token burn announcement.
Additionally, BONK has gained over 105% in the past few days, whereas WIF has recorded a gain of over 35% during the same period.
According to CoinMarketCap, WIF appears to be struggling, having registered a gain of only 0.65% in the past 24 hours. Additionally, other meme coins also seem to be struggling during the same period.
Rising Social Interest
In the cryptocurrency industry, a token burn announcement is often viewed as a positive sign, as it reduces the overall circulating supply, potentially triggering a rally in the token’s price.
However, the announcement has garnered significant attention from the crypto community. According to the on-chain analytics firm Santiment, BONK’s social dominance has risen to 1.61%, indicating strong interest and engagement from crypto enthusiasts within the market.
The post BONK Overtakes WIF, Becomes Solana’s Leading Meme Coin appeared first on Coinpedia Fintech News
Bonk (BONK), the popular Solana-based meme coin, is making headlines in the cryptocurrency world with its impressive price performance following a notable announcement. On November 17, 2024, Bonk’s Decentralized Autonomous Organization (DAO) announced that it would burn nearly 1 trillion tokens on December 25, 2024. BONK Surpasses WIF in Market Cap Following this strategic announcement, …
This articles is written by : Nermeen Nabil Khear Abdelmalak
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