Solana’s BONK Token Hits Record High Amid Crypto Surge

The Solana-based meme coin BONK is continuing to surge in the market, hitting an all-time high with a market capitalization close to $420 million on Tuesday.

According to data from CoinGecko, the token had risen more than 21% just in the last 24 hours at the time of writing, trading at a price of $ 0.00000676 and with a market cap right around the $400 million mark.

Over the past seven days, the hot meme coin is now up some 61%, and up more than 730% on a 30-day basis.

That compares to a 7-day gain of 12% for Dogecoin (DOGE) and a 14% gain for Shiba Inu (SHIB), the two most popular meme coins in the crypto market.

BONK, also a dog-themed token, is one of the most popular meme coin projects on the Solana blockchain at the moment.

On its website, the project describes itself as “the true community coin of web3,” and claims to have 649,000 holders across 10 different blockchains.

The BONK token launched all the way back in December of last year, but its popularity only started to take off last month.

The surge in the token price has followed a rising interest in the broader Solana ecosystem, which has also fueled a strong rally in the price of Solana’s native SOL token.

At the time of writing, SOL was up 8.2% for the past seven days and 48% for the past 30 days.