2 months ago 1 min read

Solana Based Memecoin That has Increased by 787% in Two Weeks is in Competition With Dogecoin and Shiba Inu

solana-memecoin-dogecoin-shiba inu-BONK

The two biggest memecoins in terms of market cap are attempting to outpace a fresh challenger from Solana.

Over the past week, Dogecoin (DOGE) and Shiba Inu (SHIB) have soared with Bitcoin and the general market, leaving the newly-hyped dog-themed altcoin Bonk (BONK) in the dust.

Since its late-month introduction, Bonk has had a wild ride and has increased by 787%. BONK, however, saw a 56% decline from a seven-day high of $0.000002 on January 8 to a low of $0.00000088 on January 13 when Bitcoin and the whole market started to rise.

A seven-day low of $0.077 on January 10 was followed by a high of $0.092 on January 14, representing gains of more than 16% in less than a week for DOGE. At the time of writing, DOGE is trading at $0.084, having given up some of its gains.

DOGE is still down more than 88% from its all-time high of $0.73, which it reached in May 2021, despite last week's rebound.

Shiba Inu, on the other hand, rose from a weekly low of $0.0000083 on January 8 to a high of $0.000011 on January 14—a rise of more than 32% in less than seven days.

Since then, Shiba Inu has corrected and is currently trading at $0.000010.

Although the Dogecoin rival has increased recently, it is still down 88% from its all-time high of $0.000086, which was reached in October 2021.

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