Bonk (BONK), a dog-themed cryptocurrency operating on Solana, has recently soared in market value. It is now the third-largest memecoin by market capitalization, surpassing Pepe, which has a market cap of $675 million. 

In just one month, BONK's value skyrocketed by 370%, from 0.0000028 to $0.000012, to boost its market cap to $762 million. 

The recent gains of BONK can be partly attributed to its listing on major centralized exchanges like Binance and KuCoin. Moreover, futures market data indicates a considerable rise in open interest in the past month, suggesting high trading volumes in Bonk derivatives and contributing to the token's price volatility.

Launched on Dec. 29, 2022, BONK, saw an impressive 3,766% increase in its first week of trading, despite the overall market downturn. However, its value began to decline from January 5, reaching near all-time lows for much of the year. 

Since October 21, BONK showed remarkable recovery, surging by 6215% and becoming the top-performing mid-cap memecoin over the last three months.

It passed Pepe's market cap of $675 million. 

Mon Dec 11 2023 BONK is Now the Third-Largest Memecoin

Mon Dec 11 2023

BONK is Now the Third-Largest Memecoin