Bonk (BONK) Rallies 42% in a Week, Surpassing Dogelon (ELON) to Become the Fourth-Largest Meme Coin

The meme coin has secured its position as the top Solana-based meme coin and the fourth largest meme coin overall.

Meme coin Bonk (CRYPTO: BONK) has seen a stellar rally of 42% in the past week, attracting the attention of traders who are noting its strength compared to other meme coins.

Here's a closer look at what's happening with Bonk and what traders are saying about its potential.

Bonk Surges, Ranks Fourth Among Meme Coins: Bonk has emerged as the leading Solana-based meme coin and now ranks as the fourth-largest meme coin overall.

With a market capitalization of $4 billion and 24-hour trading volume of $3.6 billion, Bonk has surpassed Dogelon Mars' (CRYPTO: WIF) market cap of $3.2 billion, which is accompanied by 24-hour trading volume of $1 billion.

As of November 19th, over 500 billion BONK tokens have been burned by BONKBot, which is valued at $26 million.

The platform allocates 100% of its revenue from swap fees to purchase BONK, where 10% is immediately burned, contributing to the deflationary tokenomics of the meme coin.

Trader Notes on Bonk's Strength: A trader known as Unipcs, also known as BONK Guy, highlighted Bonk's strong performance:

Unipcs, in a recent tweet, pointed out Bonk's dominance, which could lead to an aggressive price surge, suggesting the potential for a "parabolic" rise in the meme coin's price.

Another trader, Zer0, shared bullish sentiments, echoing the points made by Unipcs.

Trader Zer0 indicated that Bonk is currently undergoing a phase of expansion, and its price surge is only just beginning.

Why buy any other meme coin when Bonk is the strongest?

Meanwhile, Altcoin Sherpa also shared his thoughts on Bonk's strong performance, emphasizing its dominance in the meme coin sector.

According to Sherpa, if one is actively trading CEX coins, they might prefer to buy Bonk over other meme coins.

In other related news, South Korean cryptocurrency exchange Upbit has listed the Bonk/KRW trading pair, effective today.