Currently positioned as the 65th largest cryptocurrency, Bonk Inu (BONK), a meme coin based on Solana, has experienced a significant increase of over 50% in the last two weeks. This growth has propelled BONK to become the fifth-largest meme coin in its category, boasting a market capitalization of nearly $1.6 billion, thanks to strong investor interest and listings on major crypto exchanges like Binance and Coinbase.

Among the prevailing correction in the cryptocurrency market that has led to a downtrend in prices for various digital assets, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE), BONK has managed to defy the trend with a notable surge of 55% in the past two weeks.

Approaching a market cap of $1.6 billion, BONK has overtaken Floki Inu (FLOKI) to become the fifth-largest meme coin in the market and currently ranks as the 65th largest cryptocurrency overall, surpassing other popular altcoins like Axie Infinity (AXS), The Sandbox (SAND), Aave (AAVE), and Algorand (ALGO).

As the second-largest meme coin running on Solana, BONK follows closely behind dogwifhat (WIF), which experienced a surge in market capitalization to nearly $5 billion in March before settling at around $2.5 billion.

Originally introduced in December 2022, Bonk Inu (BONK) gained substantial attention a year later, with its price soaring as a result of enthusiastic investor support, endorsements from influential figures, and listings on major crypto exchanges such as Binance, Coinbase, Bybit, Kraken, and KuCoin.