A Solana-based dog-themed memecoin called Bonk (BONK) has now become the third-largest memecoin by market capitalization, surging past that of fellow memecoin Pepe (PEPE) on Dec. 8.

Bonk’s recent price growth — 370% in the last month — has seen its market cap grow to $762 million, compared to Pepe’s current $675 million market cap, per CoinGecko data.

In the past 30 days, BONK has grown from $0.0000028 to $0.000012 as traders rushed to capitalize on a new wave of interest in the Solana ecosystem.

Bonk’s price has grown 370% in the last month. Source: CoinGecko

Bonk’s rapid uptick in price also outpaced the growth of other more well-established dog memecoins such as Shiba (SHIB)…

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