BONK regains first place in the Solana meme coin and dethrones PENGU

Bonk has resumed its position as Solana's leading meme coin, reaching a market capitalization of $2.5 billion.

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

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

The “Burnmas” initiative has helped fuel the upward movement in BONK prices. Through this effort, BONK DAO burned 1.69 trillion BONK tokens from its multi-signature wallet.

This has reduced the total supply of the Solana-based meme coin (SOL) from 100 billion to 91 billion tokens. This reduction in supply has sparked the interest of new buyers in the market.

Pudgy Penguins nft Collection Shows Mixed Performance

The Pudgy Penguins ecosystem tells the story of two markets. While the PENGU token faces pressure, the Pudgy Penguins nft collection floor price data shows strong growth over multiple periods.

Collections increased 31% last week, with even larger increases of 84.2% and 159.5% over 30- and 60-day periods. The annual return stands at 110.5%.

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

Market activity has cooled, as reflected by the numbers: only 117 buyers and 107 sellers remained active, marking decreases of 69.92% and 74.09%.

PENGU price charts show price variations 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 on the same day, the price continues to move in wide ranges.