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Bonk (BONK), the second-largest Solana meme coin by market cap, hit a new high of $0.000047 on Friday, breaking a record from May—and then pushed even higher on Saturday, jumping to a new all-time mark above $0.000049. It’s currently up 120% over the last week, per data from CoinGecko.
The pump came after the project launched a campaign to burn up to 1 trillion BONK—over $39 million worth at present—by Christmas Day based on various engagement criteria, prompting fans and community members to complete social media tasks. Burning tokens shrinks the token supply, boosting scarcity and potentially increasing the price as a result.
Other major meme coins similarly hit high marks on Friday without such schemes, however. Brett (BRETT), a meme coin on Ethereum layer-2 network Base, peaked at a new high above $0.19 late Friday, while Mog Coin (MOG) jumped to a new record price of $0.0000029.
A couple more recent meme coin sensations also hit new highs, such as Goatseus Maximum (GOAT)—a token conceptualized by an AI chatbot, but created by a human—which jumped to $1.30 on Saturday. And Moo Deng (MOODENG), a Solana token inspired by the baby pygmy hippopotamus that recently went viral, set a new peak price of $0.68.
Earlier this week, Pepe (PEPE), Cat in a Dog’s World (MEW), and Fwog (FWOG) all set new record prices. Other notable meme coins have gotten close to their respective records, too, such as Solana’s Dogwifhat (WIF).
The meme coin market cap comes after Dogecoin (DOGE)—the original meme coin—spiked to a three-year high price of about $0.43 earlier this week. The DOGE resurgence came amid ties to Elon Musk (as usual), who will co-lead a new government effort under President-elect Donald Trump called the Department of Government Efficiency—yes, the D.O.G.E.