BONK and SHIB take the lead as Memecoins flourish in a bullish market with daily gains.

The correlation between Bitcoin’s price and memecoins has been positive, with memecoin holders closely following the price movements of Bitcoin. The recent rally of Bonk has also had an impact on Solana’s price, causing it to gain momentum and reach $131 today, which is the highest it has been since April 2022. Furthermore, the memecoin market experienced a 25% growth today, reaching a total value of $34.3 billion. This means that the meme coin market now represents approximately 1.5% of the entire cryptocurrency market. The rapid growth of the market has also led to significant gains for new meme tokens, as evidenced by the 100% spikes seen in Baby Shiba Inu and Turbo this week.