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PENGU Overtakes BONK, Becomes Top Meme Coin on Solana at $2.6B Valuation
The Solana meme coin market has witnessed a remarkable surge over the last day, with its overall valuation skyrocketing by 10.3% to reach an astonishing total of $18.2 billion. The catalyst behind this surge is none other than PENGU (PENGU), which has catapulted past Bonk (BONK) to claim the top spot as the largest meme coin on Solana, boasting a staggering market cap of $2.65 billion.
The impressive performance of Pengu is not surprising, given its recent history. The cryptocurrency, which was airdropped to members of the globally popular Pudgy Penguins NFT community on December 17, has been steadily climbing since Christmas Eve when it recorded a massive 30% gain within just 24 hours. This upward trajectory continues unabated, with data from CoinGecko revealing an astonishing 11.2% hike in the past day alone.
Contrastingly, Bonk’s price has stagnated, only registering a modest 6.9% increase over the same period, leading to its market cap falling just shy of $2.5 billion. Notably, this decline has allowed Pengu to seize control as the largest Solana meme coin by market valuation.
Other players in the space are vying for investor attention. Dogwifhat (WIF) set a new all-time high on Christmas Eve at $1.02, propelling its overall worth above the coveted $1 billion mark. Nevertheless, Fartcoin’s (FARTCOIN) gains have been less spectacular, with its price climbing 13.1% in seven days but plummeting by 15% since December 25. As a result, WIF boasts a sizeable market cap of $1.9 billion, while FARTCOIN lingers at $1.072 billion.
As the Solana meme coin space continues to evolve and attract investors seeking potential windfalls, it remains essential for traders to stay informed about current market trends and prices.
Source: cryptopotato.com
