Solana-Based Bonk Has Head-Bashed its Way to Become the 3rd Largest Meme Coin By Market Cap

The hottest #memecoin on the block, #BONK, saw its market cap grow +116% in the past day alone, largely due to its #Coinbase listing. $BONK has jumped from the #69 largest asset to #43 in just 12 hours. If longing, be cautious of too much crowd #FOMO.

Dogecoin (#11) and Shiba Inu (#18) are the only two meme coins with a higher market cap rank now, and Bonk surpassed the latter coin in market price a week ago. Typically, when we begin to see this huge spike in social dominance, particularly when a meme coin is pumping, it is a sign that we may be close to a local top.

Mainstream attention of this magnitude for a coin that was on nobody's radar just a couple months ago, is typically purely based on greed. The surge can certainly last as long as the bigger BONK holders want it to last, but we're now seeing the red flags that typically loom just prior to corrections.