$PENGU Surpasses BONK as the Largest Solana-Based Meme Coin

The meme-themed cryptocurrency "PENGU" has achieved a major milestone, overtaking "BONK" to become the largest meme coin on the Solana blockchain with a market capitalization of $2.65 billion.

Launched on December 17, PENGU was initially targeted at the "Pudgy Penguins NFT" community before expanding to the broader crypto market.

Despite criticism regarding its negative impact on the value of the original NFT collection—which saw a decline of over 50%—PENGU has experienced substantial growth.

Since December 23, its price has steadily increased, reaching $0.0417 and pushing its market value to record levels.

Meanwhile, BONK has struggled to maintain its position, posting a modest 6.9% gain over the past week but suffering a 17% decline over two weeks.

Its market capitalization has stabilized at approximately $2.5 billion, enabling PENGU to claim the top spot.

Other meme coins on Solana, such as Dogwifhat (WIF) and Fartcoin (FARTCOIN), are also vying for attention.

WIF boasts a market cap exceeding $1.9 billion, while FARTCOIN has dropped to $1.072 billion after a 15% price decline since December 25. The fierce competition highlights the ongoing popularity of meme coins within the Solana ecosystem.