BONK reclaims top Solana meme coin spot, dethrones PENGU

Bonk reclaimed its position as Solana’s top coin, reaching a market cap of $2.5 billion.

The recent surge came after a community-driven token burn and price increase. Bonk (BONK) price of $0.00000328 marks a 3.9% increase over the past 24 hours and a 4.9% increase over the week.

Meanwhile, PENGU is trading at $0.03568 with a market cap of $2.27 billion, moving to second place among Solana meme coins.

The “Burnmas” initiative helped drive up BONK prices. Through this effort, the BONK DAO burned 1.69 trillion BONK tokens from its multisig wallet.

This brought the total Solana supply (GROUND) meme-based coin grew from 100 trillion to 91 trillion tokens. This reduction in supply has attracted the interest of new buyers in the market.

Pudgy Penguins NFT Collection Shows Mixed Performance

The Pudgy Penguins ecosystem tells a tale of two markets. As the PENGU token faces pressure, Pudgy Penguins NFT Collection floor price data shows strong growth across multiple time frames.

Collection gained 31% last week, with even larger increases of 84.2% and 159.5% over 30- and 60-day periods. Performance over the year amounts to 110.5%.

Commercial activity for Pudgy Penguins NFTs has slowed. CryptoSlam reports a 78.2% drop in sales volume over the past week, with transactions reaching $11.86 million.

Market activity slowed, as reflected in the numbers: only 117 buyers and 107 sellers remained active, representing declines of 69.92% and 74.09%.

PENGU price charts show price fluctuations since its launch. After reaching $0.06845 on December 17, the token fell by 47.8%. Although it is 213.3% above its all-time low of $0.01141 from the same day, the price continues to trade in wide ranges.