u.today
In the latest Bitcoin-driven market rise, Solana-based dog coins $BONK and Dogwifhat ($WIF) have outperformed their more established counterparts, Dogecoin ($DOGE) and Shiba Inu ($SHIB).
In the last 24 hours, $BONK has increased nearly 11%, and Dogwifhat ($WIF) has demonstrated even stronger performance, rising over 22% in that time frame. Although Dogecoin ($DOGE) and Shiba Inu ($SHIB) are posting significant gains, this remains less than those seen for $WIF and $BONK, suggesting increasing investor interest in Solana-based meme coins. $DOGE was up 4.94% in the last 24 hours as of press time, while $SHIB was up 7.27%.
Based on weekly performance, $WIF and $BONK also saw higher gains, up 58% and 32%, respectively, while Shiba Inu and Dogecoin both increased by 17%.
At press time, $WIF and $BONK were trading at $0.638 and $0.00001583, respectively. Shiba Inu and Dogecoin exchanged for $0.000014 and $0.181.
What's happening?
After weeks of lackluster activity and lower liquidity conditions, the market finally responded positively to a broader macro catalyst, with both equities and cryptocurrencies rising higher.
Bitcoin topped $95,000 in the early Friday session, increasing for the seventh straight day since April 19. Following a steady rise from lows of $0.00000885 on April 7, $BONK surpassed the daily SMA 50, which had capped its price since December 2024, reaching highs of $0.00001644 early Friday.
$BONK recently revealed its new Community Driven Mission, R.E.A.D., which represents four major tenets the $BONK Community has advocated for: Reduce Supply, Expand Awareness, Accelerate Adoption and Drive Revenue.
The $WIF price reversed course following a prolonged downward trend, which culminated in consolidation and began increasing on April 18. The rise surpassed the daily SMA 50 barrier at $0.453, reaching intraday highs of $0.649 early Friday.