BONK surges 1011% in a year outpaces SHIB and DOGE

Meme coin BONK has surged 3.9% in the past week and a staggering 1,011% over the last year, surpassing trading volume of popular coins SHIB and DOGE on the Solana blockchain.

Despite trading at $0.00001151 with reduced trading activity since mid-January, BONK's Relative Strength Index indicates subdued interest from buyers, potentially overshadowed by a dropoff in SHIB's whale activity.

BONK, a dog-themed meme coin launched on Solana in December 2022, experienced a significant surge in late 2023 coinciding with Solana's ecosystem expansion post-FTX collapse, backed by a growing developer community and DeFi integrations like BonkSwap and BonkorBust.

On-chain data suggests BONK may soon outpace SHIB, as SHIB whales accumulate coins ahead of SHIB's pivot to a full-fledged Web3 community, indicating a shift in sentiment and potential for BONK to seize greater market activity in the dog-themed meme coin space.