Bonk (BONK) has recently regained its position as the leading meme token on Solana, seeing a dramatic increase of 7% in value. This surge comes amidst fierce competition from Pudgy Penguins (PENGU), which briefly overtook Bonk in market capitalization. Analysts suggest that BONK may continue to rise as the memecoin sector experiences a resurgence.
Bonk and Pudgy Penguins Compete for Market Dominance
As of the time of writing, Bonk (BONK) has experienced a notable 7% increase in the last 24 hours, bringing its market capitalization to over $2.71 billion. In comparison, Pudgy Penguins (PENGU) has followed closely with a market cap of $2.69 billion after its own significant gains.
Pudgy Penguins exceeded Bonk as the top meme token on Solana amid positive market news related to ETFs and Binance’s exchange announcements. The rise in PENGU’s value has coincided with similar uptrends in other tokens like Dogwifhat and Popcat.
Price Surge Driven by Binance Exchange Update
Both BONK and Pudgy Penguins have benefited greatly from a recent announcement by Binance. On July 21, 2025, Binance stated that it would be removing the Seed Tag for several tokens, including Bonk and Pudgy Penguins.
“Tokens with the Seed Tag represent innovative new projects that can carry higher volatility and risks compared to other listed tokens,” explained Binance.
This decision has not only enhanced trader confidence but also improved liquidity for the tokens. It is likely that this boost has contributed to the growth of PENGU and BONK, among others.
The Pudgy Penguins community welcomed the ETF filing positively, with crypto analyst Ali Martinez noting that the token is positioned favorably due to its mainstream crossover potential.
“Pudgy Penguin $PENGU: A leading memecoin making strides into the mainstream,” Martinez stated.
Bonk’s Price: Bulls Aim to Protect Key Support Level
Bonk’s price has seen a modest rise of 6% over the past 24 hours and 9% over the last week. However, bulls are now focused on defending a critical support level around $0.00003485 as they work to counteract PENGU’s momentum.
Currently, BONK appears to be consolidating between the support level of $0.00003 and the supply zone at $0.00004.
Analysts remain optimistic that maintaining BONK above the current demand zone could allow for a push toward its November 2024 highs, which hover above $0.000059. The community’s resilience and increased open interest, rising by 2.69% to over $55 million, are seen as supportive factors for BONK’s future performance.
Meet William, a proud Bethel University alumnus with a fervent passion for lifestyle and culture topics. His keen interest doesn’t stop there; he’s also deeply engrossed in current events of all kinds. William dedicates himself wholeheartedly to this site, thriving on the collaborative energy he shares with Suzanne, his long-standing partner in crime.
Having navigated their university courses side by side for years, their teamwork on the site is nothing short of dynamic. Together, they bring a unique blend of insights, proving that two heads are indeed better than one in delivering compelling content.
