Pudgy Penguins ($PENGU ) launched on the Solana blockchain marked an important milestone as it soared to the top, replacing BONK as the largest meme coin on the network. With a massive trading volume of $1.5 billion, PENGU surged by 9.5% in the last 24 hours and 22% over the past seven days.
According to data from CoinGecko, PENGU ranks 59th among the largest digital currencies on the site and is trading at $0.03909 at the time of publication after reaching a daily high of $0.0431. However, the meme coin is still down 31.8% from its all-time high of $0.05738 recorded just nine days ago.
While PENGU reached higher highs, BONK failed to follow a similar path, rising only 6% over the last week and trading at $0.00003291. With a market cap of $2.4 billion, BONK is just one price away from reclaiming its position as the top meme coin on Solana, as PENGU's market cap is $2.5 billion.
Recently, PENGU conducted an airdrop that distributed the meme coin to 7 million eligible addresses. After this, users have only 88 days to claim 23.5% of 88 billion tokens or 20.6 billion coins that were reserved for the airdrop.
It is important to note that BONK became part of this year's meme coin rally after the launch of Pump.fun on the Solana blockchain, which led to the rise of dogwifhat (WIF) and other SOL-related tokens. $BONK $WIF
