Solana Meme Coin BONK Pumps 30% to New ATH – Can It Reach $1 by the End of 2024?

As the meme coin frenzy continues, Solana-based Bonk (BONK) surged over 100% in the past week, capitalizing on the recent trend of exchange-fueled price spikes.

It stands as one of the top-performing tokens in the market, currently outpaced only by MANTRA, which has witnessed a parabolic rise, and PNUT, which delivered a staggering 15x return in the same timeframe.

The rapid pace of developments in the cryptocurrency market highlights the dynamism of this space, with PNUT trading at $2 just days ago. The focus, however, is on Bonk, which has experienced a significant surge overnight.

This performance can be attributed to the continued strength of meme coins and a notable pump in Solana, Bonk’s native blockchain. Historically, Bonk’s rallies often align with Solana’s, much like how Pepe often correlates with Ethereum’s bullish phases.