Memecoins Bonk, Doge lead extended market rally

Bonk, a Solana-based memecoin, surged more than 45% on Thursday to lead gains among the top 100 cryptocurrencies by market capitalization.

Bonk is up almost 100% in the past week and traded at US$0.00002323, at 11:45 a.m. ET, according to CoinGecko data.

Earlier this month, digital banking app Revolut announced plans to list Bonk on its platform which is used by over 30 million retail users.

Dogecoin and Shiba Inu, two Ethereum-based memcoins, each posted more than 20% gains on the day as both cryptocurrencies rose to their highest prices in over a year.

The memecoin rally is part of a broader increase in global crypto assets, with Bitcoin trading above US$60,000 since Wednesday.

Bitcoin has been trading at its highest price range since the world’s largest cryptocurrency scaled down from its record of over US$69,000 in November of 2021.

While most cryptocurrencies have been following Bitcoin’s positive trend, memecoin Pepe logged the day’s largest drop by falling 13.7%.

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• Source: https://forkast.news/memecoins-bonk-doge-lead-extended-market-rally/