- Bonk (BONK) price soared more than 50% to a new high after Coinbase announced the meme coin's listing.
- The Solana-based token has rallied 660% in the past 30 days and is nearly hitting $1 billion in market cap.
- The Memeinator is a new meme coin in presale that aims to dominate the meme coin space.
Bonk (BONK), a Solana-based meme coin that has been one of the standout performers in the past month, has soared more than 50% in the past 24 hours. The meme coin’s surge follows its listing on major cryptocurrency exchange Coinbase. Is BONK primed to challenge Shiba Inu?
BONK surges on Coinbase listing news
On Wednesday, Coinbase announced it would add trading support for BONK on the Solana network (SPL token).
“Trading will begin on or after 9AM PT on 14 December 2023, if liquidity conditions are met. Once sufficient supply of this asset is established trading on our BONK-USD trading pairs will launch in phases. Support for BONK may be restricted in some supported jurisdictions,” the US-based crypto exchange stated in an announcement posted on X.
Coinbase is a leading crypto exchange and its support for any token has often coincided with a bullish flip for the respective price. The market reaction for BONK in this case pushed its price higher, breaking to a new all-time high of $0.00001489. Bonk had reached a market cap of $896 million at the time of writing.
Can BONK go on to challenge SHIB?
BONK’s rise in the Solana ecosystem has strengthened over the past few months, with broader adoption across NFT projects a key driver of its upside momentum. It has overtaken Floki (FLOKI) and Pepe (PEPE) into third spot in the meme coin space.
According to data from CoinGecko, Bonk’s huge gains have now accumulated to over 660% in the past 30 days, with the rally putting the Solana meme coin only behind Shiba Inu and Dogecoin in terms of market capitalization.
Shiba Inu is the second-largest meme coin with a market cap of $5.8 billion, while Dogecoin leads the pack with $13.6 billion. If BONK continues to rise amid further adoption in the Solana ecosystem, it could challenge SHIB’s status as the second-largest meme coin by market cap.
Memeinator : Is it the next big meme coin?
As BONK trends today as the top gaining meme coin, social discussion is also veering towards another upcoming project – the Memeinator (MMTR).
While BONK is trending today, the next big thing in the station could be Memeinator. This Terminator-inspired meme project has a mission to rule over the meme world, with first stop after launch being the $1 billion market cap.
After a slow start to its presale, the AI-powered token has seen a significant increase in investor interest this month. The attention has solidified after the recent reduction of presale stages, with the initial allocations in those stages burned (129 million MMTR) or offered for staking rewards (21.5 million.)
Also, Memeinator has a roadmap that targets its launch across major exchanges, integration with dApps, and unveiling of its Meme Warfare game. The project will also feature NFTs, bringing more utility to the community and likely setting it apart from many of the low quality meme tokens.
The presale phase of the token is expected to end in the first quarter of 2024. With crypto bull market expected to be strengthening around this time, one of the projects to watch could be Memeinator. Currently, presale participants have raised over $2 million, with over $400k in stage 7 and 8 only.
Learn about Memeinator’s tokenomics and other key project features from their whitepaper or on their website.
