In the dynamic world of Solana’s meme coins, Bonk (BONK) has reclaimed its leading position, dethroning Pengu (PENGU). Bonk now boasts a market capitalization of $2.5 billion.
The recent upswing in Bonk’s fortunes is attributed to a community-driven token burn. Through the “Burnmas” initiative, the BONK DAO burned 1.69 trillion BONK tokens from its multisig wallet. This reduction in supply, from 100 trillion to 91 trillion tokens, has attracted new buyers. Bonk’s price stands at $0.00000328, marking a 3.9% increase in the past 24 hours and a 4.9% rise over the week.
Meanwhile, Pengu, with a market cap of $2.27 billion, has dropped to second place. Pengu is currently trading at $0.03568.
The Pudgy Penguins ecosystem presents a mixed picture. While the PENGU token has faced price volatility—after hitting $0.06845 on Dec. 17, it fell by 47.8%—the Pudgy Penguins NFT collection shows strong growth. The collection’s floor price has increased by 31% in the past week, 84.2% over 30 days, and 159.5% over 60 days, with a year-long gain of 110.5%.
However, trading activity for these NFTs has slowed significantly. CryptoSlam reports a 78.2% drop in sales volume over the past week, with only $11.86 million in transactions. The number of active buyers and sellers has also decreased by 69.92% and 74.09% respectively.
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