The Solana dog cryptocurrency, Bonk (BONK), looks to be rebounding. It has increased 15% in the previous day after falling after a spike in price to $0.00001794 early in 2024.
Compared to other dog currencies like Dogecoin and Shiba Inu, which earned 0.83% and 1.20%, respectively, BONK has done better over the last 24 hours. As of this writing, BONK has gained 11.13% over the previous day.
The cryptocurrency community, especially the Solana ecosystem, has shown a great deal of interest in and acceptance of BONK, which purports to be the first dog token on the Solana (SOL) blockchain.
BONK looks to be making a comeback; during the Friday trading session, it rose from lows of $0.0000102 to highs of $0.00001199, suggesting that the overall enthusiasm around meme coins on the Solana blockchain has decreased.
According to CoinMarketCap data, Bonk’s 24-hour trading volume reached $138.78 million, a rise of more than 97.08%.
As investors show renewed interest in Bitcoin and other cryptocurrency assets, Bonk’s value is rising in tandem with the market as a whole. The positive outlook for the market seems to be helping the Solana environment.
The fifth-largest cryptocurrency by market value, Solana, recovered the $100 level following the Monday scare that turned out to be a temporary low. The price rebound was driven by false positive news. SOL’s market price at the time of writing was $104.75.
Dogwifhat (WIF), a meme coin based on the Solana (SOL) blockchain, saw a 30% increase yesterday after being listed on Bitfinex, but it later reversed those gains.
Pyth Network (PYTH), a token headquartered in Solana, has also experienced a significant surge of 10.09% during the last day.
