Dog-Themed Meme Coin Bonk (BONK) Surges 90% In A Week, Sparking Comparisons To Shiba Inu (SHIB) Rally

Dog-themed meme coin Bonk BONK/USD is continuing its rally, which is starting to draw comparisons to the iconic 2021 meme coin rallies of its canine-themed rivals.

Solana’s dog-themed meme coin, Bonk (BONK), continues to lead the meme coin rally, sparking comparisons to the iconic 2021 rallies of its canine-themed rivals.

Surging 90% in the past week, Bonk has ascended to become the top meme coin on Solana by market valuation, surpassing even Dogelon Mars (WIF).

Moreover, BONK boasts the highest trading volume among Solana memes, with over $2 billion in activity.

According to the burning tracker, the trading application BONKBot burned 1.5 billion BONK in the last 24 hours.

This brings the total burns to 502.9 billion tokens, valued at approximately $19 million at current prices.

Notably, traders have been closely monitoring the burning rate of BONK, which has become a key factor in the meme coin’s price performance.

As highlighted by鏈聞 ChainNews, seven.seven trillion BONK have been burned so far, and one trillion more are expected by Christmas, solidifying BONK as “Deflationary Dog Money.”

Surging Meme Coin Sparks Comparisons to SHIB, Trader Anticipates ‘Aggressive Upward Move’

Veteran meme coin trader Unipcs on X has drawn parallels between BONK’s setup and that of Shiba Inu (SHIB) during its last cycle, suggesting that BONK could follow a similar rally trajectory.

He points out that both coins share key factors, such as unit bias, debuting on a major retail exchange, and having completed an initial pump where heavy bag holders exited.

These factors, he argues, pave the way for an aggressive upward move.

Highlighting BONK’s appeal as a dog-themed meme coin, Unipcs notes that it aligns with the success of Dogecoin (DOGE) and SHIB, the only two meme coins to achieve market caps above $40 billion.

Meanwhile, widely-followed trader Pentoshi anticipates price discovery for BONK.

$BONK trading like a robinhood listing is coming and price discovery awaits.

one of the better looking charts currently pic.twitter.com/HoOhjiUWNo

As the influence of meme coins continues to grow, Benzinga will be exploring this phenomenon in depth at its upcoming Future of Digital Assets event on Nov. 19.

Don’t miss out on this exciting opportunity to gain insights from industry experts.

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