The meme-themed cryptocurrency “PENGU” has achieved
A quantum leap, surpassing the “BONK” coin to become the largest meme coin on Solana with a market cap of $2.65 billion.
PENGU Coin:
The “PENGU” cryptocurrency was launched on December 17 and was initially directed specifically to the “Pudgy Penguins NFT” community, after which it was launched to target the crypto community in general.
The “PENGU” coin recorded significant gains despite the controversy over its negative impact on the prices of the original collection of “NFTs”, which lost more than 50% of its value.
The price of PENGU has been gradually rising since December 23, reaching $0.0417, pushing its market cap to record highs.
BONK Coin Loses Lead:
In contrast, BONK has performed relatively poorly, posting a modest 6.9% gain over the past week, with losses of 17% over two weeks.
The market cap of the coin stabilized at around $2.5 billion, allowing PENGU to finally outperform.
Besides BONK and PENGU, other meme coins like dogwifhat (WIF) and Fartcoin (FARTCOIN) are competing to attract more investors.
WIF recorded a market cap of over $1.9 billion, while FARTCOIN fell to $1.072 billion after a 15% price drop since December 25.
This intense competition shows the continued popularity of meme coins based on the Solana ecosystem.