Bonk Rockets 30% to Lead Dog Meme Rebound; #FLOKI Termed 'Utility Token' by CFTC.
Memecoins are known for their high volatility and tend to outperform major tokens during price rallies, serving as a leveraged bet.

Solana-based bonk (BONK) led growth among dog-themed memes Saturday as bitcoin staged a recovery rally to above $98,000. #BONK surged 30%, CoinGecko data shows, with dogecoin (DOGE), shiba inu (SHIB), dogwifhat (WIF) and floki (FLOKI) surging as much as 20%.

#FLOKI was named alongside ether (ETH) and Avalanche’s AVAX as a utility token in a Commodity Futures Trading Commission (CFTC) meeting last month.

Solana-based bonk (BONK) led growth among dog-themed memes Saturday as bitcoin staged a recovery rally to above $98,000, a day after Friday’s bloodbath that pushed it near $93,000.

Elsewhere, interest in BONK comes as a host of activities intend to deflate token supply gain traction among users — a move that has historically contributed to higher prices.

BonkDAO, a decentralized group of bonk believers that maintain the token, burned 100 billion tokens from the circulating supply in November and targeted a trillion token burn in December. This could increase the token's value due to scarcity.

🔥 In just the last 30 days, over 30 BILLION $BONK have been burned across 3,856 wallets, averaging a scorching 1 BILLION daily!
Leading the charge are @bonkbot_io and @BonkEarn, setting the standard for burns.