Solana’s BONK Rockets to Become the 69th Largest Coin with Over $1 Billion Market Cap

BONK, Solana’s meme coin, has risen to prominence, ranking 69th on CoinMarketCap’s list of the top cryptos with a market capitalization greater than $1 billion.

This significant milestone comes as BONK has increased by 64% in the last 24 hours, reaching another all-time high after being listed on Coinbase, the largest cryptocurrency exchange in the United States.

Despite the inherent volatility of meme coins, BONK has proven to be resilient. Following a brief 6% drop following the listing, it resumed its upward trend, nearly matching its previous all-time high. BONK’s market cap is nearly $1.05 billion as of the most recent update.

BONK has increased by 75% in the last seven days, and its gains over the last month are even more impressive at 791%.

BONK has outpaced many cryptocurrencies in terms of growth multiples, riding the wave of excitement surrounding Solana’s native SOL coin.

BONK is the most significant gainer among the top 100 cryptocurrencies in the last 24 hours. WOO token on Ethereum and ORDI on Bitcoin follows closely behind, with gains of 33% and nearly 32%, respectively.

Solana’s native cryptocurrency, SOL, has also seen positive momentum, rising nearly 9% on the day to a price above $73. Other popular meme coins, such as Dogecoin (DOGE) and Shiba Inu (SHIB), have posted more modest gains, each of around 5%, in the last 24 hours.

While BONK has now joined the league of meme coins with a market cap of over $1 billion, it still has a long way to go before it can compete with the top dogs.

Dogecoin is ranked 11th, with a market cap of around $13.9 billion, and Shiba Inu is ranked 18th, with a market cap of around $5.9 billion.