TL;DR

Bonk Inus price surged 25%, making it the fifth-largest meme coin with a market cap over $1.7 billion. Despite gains, traders are warned about the volatility of meme coins and advised to invest cautiously.

BONK Leads the Pack

The meme coin realm is back on the green track today (July 9), with its market capitalization rising by 8% and surpassing $45 billion (CoinGeckos data).

The best performer from the top 10 club is the Solana-based Bonk Inu (BONK), whose price surged by 25% daily. Its market cap exceeded $1.7 billion, solidifying the asset as the fifth-largest in the cohort. Floki Inu (FLOKI) is sixth with approximately $1.4 billion.

BONK Price, Source: CoinGecko Numerous industry participants noted BONKs latest progress, predicting that it has enough fuel left to rally even more and flip dogwifhat (WIF), thus becoming the biggest meme coin built on the Solana ecosystem. 

Others, like the X user Crypto Chase, argued that BONK currently offers a great buying opportunity, claiming it would have traded even higher if it hadnt been for the severe market correction witnessed at the end of last week. 

Other leading meme coins charting impressive gains in the past 24 hours include FLOKI (7.5%), BOME (8.2%), PEPE (11%), and more. 

The dog-themed Billy (BILLY) is again one of the best performers among lesser-known tokens. Its price is up 40% daily, and its market capitalization has risen to almost $200 million.

Consider the Risks

Meme coins have the ability to spike substantially over night and thus benefit savvy traders who hop on the bandwagon at the right time. However, they can just as easily crash by double digits in a matter of hours, resulting in crucial losses for investors.

Having that said, people should enter the ecosystem after proper due diligence and invest only as much as they are ready to lose. For more important tips, please check our dedicated video below: