The new dog-themed meme coin is massively outperforming other cryptocurrencies this week.
Meme coins, which are popular cryptocurrencies often inspired by internet jokes, have seen their fair share of volatility over the years. After the hype died down briefly in 2022, a new one, issued on Dec. 25, is now outperforming other coins on the market.
BONK, which is a Solana-based, dog-themed token, was up 3,174.2% this week as of Thursday, according to CoinGecko data, and rose 29.6% in the past 24 hours. To compare, bitcoin BTCUSD , which is currently at $16,855, saw a price increase of 0.30% over the past 24 hours, and Ethereum ETHUSD , at $1,252, saw its price increase 0.06% in the past 24 hours, indicating that the prices of both have stabilized.
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