TL;DR

• Bonk Inu (BONK), a Solana-based meme coin, has risen by over 50% over the previous two weeks, turning into the fifth-largest in its cohort with a market capitalization of virtually $1.6 billion.
• Its progress has been bolstered by robust investor curiosity and listings on main cryptocurrency exchanges akin to Binance and Coinbase.

BONK Climbs the Crypto Ladder

The correction reigning within the cryptocurrency market prior to now few weeks has been greater than evident, with main digital property akin to Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and extra witnessing substantial value declines.

The situation of the meme coin area of interest is no completely differentwith most tokens deep within the purple. Nonetheless, there are a couple of exceptions, together with the favored Solana-based meme coin – Bonk Inu (BONK) – which is up roughly 55% on a two-week scale (per CoinGecko’s information).

Its market capitalization not too long ago neared the $1.6 billion mark, thus surpassing Floki Inu (FLOKI) to change into the fifth-largest meme coin. At the moment, BONK is the sixty fifth largest cryptocurrency, with a market cap greater than the favored altcoins Axie Infinity (AXS), The Sandbox (SAND), Aave (AAVE), and Algorand (ALGO).

Additionally it is the second-largest meme coin constructed on the Solana blockchain, trailing solely behind dogwifhat (WIF). The latter’s market capitalization exploded to nearly $5 billion on the finish of March earlier than retracing to its present stage of roughly $2.5 billion.

BONK’s Spectacular Rise

The meme coin noticed the sunshine of day in December 2022, nevertheless it began making the headlines a 12 months later. Again then, its value headed north exponentially, fueled by enormous investor pleasure, assist from distinguished people, and itemizing on main cryptocurrency exchanges.

As CryptoPotato reportedsome of the giants which have already embraced BONK embody Binance, Coinbase, Bybit, Kraken, KuCoin, and plenty of extra.