TL;DR

• Bonk Inu (BONK) reached a new all-time high, buoyed by Coinbase’s support and its affiliation with the high-performing Solana (SOL).
• BONK’s market cap peaked at around $900 million, ranking it 75th in the entire market and third in the memecoin sector.
• The coin’s success could be partly attributed to Solana’s recent surge, with SOL’s value increasing significantly.

The latest sensation in the cryptocurrency sector – Bonk Inu (BONK) – keeps making the headlines. The Solana memecoin tapped a fresh all-time high price on December 14, indicating that its uptrend is nowhere near its end.

One possible reason behind the latest surge could be the interaction coming from Coinbase. The leading cryptocurrency exchange added BONK to its list of supported digital assets, warning that the offering might be “restricted in some supported jurisdictions.”

This comes shortly after Coinbase put the memecoin on its experimental phase known as a “roadmap.”

Apart from reaching a new ATH, BONK also saw its market capitalization rise to a peak of $900 million. This positioned the token as the 75th largest in the entire realm and the third biggest in the memecoin sector, with the first two being Dogecoin (DOGE) and Shiba Inu (SHIB).

Another factor that might have played a role in BONK’s impressive price performance could be its connection to Solana (SOL). The latter has been one of crypto’s best performers in the past several months, recently surpassing the $70 mark (a 600% increase compared to January 1, 2023).