Solana-based meme coins Bonk (BONK) and Floki (FLOKI) have bucked the general trend in cryptocurrencies by seeing notable increases of more than 15% over 24 hours. This amazing performance highlights their tenacity and increasing investor interest in a general market collapse.
Bonk (BONK) has jumped by 17%, trading at $0.000022 at the time of writing. Based on CoinMarketCap figures, BONK, with a market capitalization of $1.53 billion, is presently the 56th biggest cryptocurrency. Though down 46% from its all-time high of $0.000041 attained on May 29, the daily trading volume of the token has doubled and now approaches about $300 million.
Originally a dog-themed meme coin, Bonk has evolved to include interaction with distributed finance (DeFi). Cross-chain communication systems, NFT markets, and other crypto market environments all incorporate it. Major exchanges, including Binance, Coinbase, OKX, and Bitstamp, now include BONK trading pairs, hence increasing its accessibility and liquidity.
Solana-Based Floki Sees 15% Surge Amidst Market Downturn
Another canine-themed meme coin on the Solana blockchain, Floki (FLOKI), has had a 15% price increase over the past 24 hours. With a daily trading volume of $301 million and a market capitalization of about $1.64 billion, FLOKI is now trading at $0.000172.
Following a noteworthy transaction whereby a whale identified as “0x403 stakes 14 billion FLOKI tokens worth around $2.36 million, Floki’s price surged recently. This action is considered a strong vote of confidence in Floki Inu’s long-term potential since staking lowers the circulating supply, raising the price owing to more scarcity.
Other main meme coins with a dog motif produced conflicting outcomes. While Dogecoin (DOGE) only increased by 2%, Dogwhifhat (WIF) noted a 15% gain. But Shiba Inu (SHIB) saw a minor decline of 0.22% over the same period.
With a 1.4% drop in market capitalization—now valued at $2.24 trillion—the larger bitcoin market keeps struggling. Currently trading at $60,670, Bitcoin is the top cryptocurrency by market capitalization worldwide and has dropped 3.36% over the past 24 hours.
The strong performance of Bonk and Floki highlights the increasing attraction and promise of Solana-based meme currencies in the changing crypto scene despite general market difficulties.
