BONK Surges Past PEPE

1 month ago 66

Solana-based BONK, a meme coin based connected the Solana blockchain, has overtaken PEPE successful marketplace capitalization, according to CoinGecko data

BONK's marketplace headdress present stands astatine $1.4 cardinal pursuing a singular 90.5% surge implicit the past week, arsenic opposed to PEPE's marketplace headdress of $1.34 contempt its ain awesome 184.9% emergence implicit the aforesaid period.

The reign of meme coins

The crypto marketplace has seen an detonation successful the popularity of meme coins, integer currencies inspired by net memes and culture. 

Leading the battalion is Dogecoin (DOGE), with a marketplace headdress of $18.2 pursuing a 52.5% summation implicit the past 7 days. 

Shiba Inu (SHIB) trails behind, boasting a marketplace headdress of $7.8 cardinal aft a 40.2% jump. 

BONK and PEPE travel these giants, illustrating the increasing capitalist involvement successful meme coins beyond the apical contenders. 

This surge successful meme coins shows increasing risk-on sentiment successful the meme coin market.  

Bitcoin's ripple effect

The caller surge successful BONK, PEPE, and different cryptocurrencies tin beryllium attributed successful portion to Bitcoin's stellar performance.

Bitcoin has soared past the $60,000 mark, reaching $61,998.83, with a 20.5% summation implicit the past week, driving the full crypto marketplace upwards. 

This surge is mostly fueled by the escalating excitement astir Bitcoin exchange-traded funds (ETFs), with important inflows into these funds indicating a increasing organization and retail interest.

For instance, BlackRock's iShares Bitcoin ETF recorded a staggering regular inflow of $520 million. Bitcoin's show is not conscionable a testament to its resilience but besides acts arsenic a catalyst for the broader cryptocurrency market, lifting the prospects of altcoins and meme coins alike.

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