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PENGU Overtakes BONK, Becomes Top Meme Coin on Solana at $2.6B Valuation

The newly launched Pudgy Penguins cryptocurrency Pengu (PENGU) has flipped Bonk (BONK) to claim the crown as the largest meme coin in the Solana ecosystem, with a market cap of $2.65 billion. The shift is the culmination of a rally that kicked off on Christmas Eve when the token gained over 30% in 24 hours. PENGU Rises Data from the crypto price tracking website CoinGecko shows that the broader Solana meme coin market has experienced explosive growth, with its total valuation rising to $18.2 billion, a 10.3% increase over the last day. Anchoring this performance was PENGU, which posted an 11.2% jump in the past 24 hours and a remarkable 22.3% rise in the last seven days. The meme coin, airdropped to members of the globally successful Pudgy Penguins NFT community on December 17, has not been without controversy. Soon after the token’s launch, the floor prices of the NFT collection plunged by more than 50%, wiping out any gains made since early November. According to analysts, this was largely because the value of the collection was partly pegged on exclusive access to the brand, with the introduction of PENGU making investment in the NFTs more accessible, therefore diluting their worth. On its rollout, the coin shot to a record high of $0.0684 before dropping to a record low of $0.0114. It then see-sawed for the next few days, moving between $0.038 on December 18 to $0.0231 on December 20. However, since December 23, it has been making steady gains, going as high as $0.0417 on Boxing Day, a price that pushed its market cap to $2.62 billion. BONK Falls Conversely, the previous king of the Solana meme coins, BONK, showed more modest improvements in its price over the last seven days, going up 6.9% in that period. Further, across two weeks, it lost 17% of its value, with CoinGecko data showing another 23% plunge over 30 days, putting its market cap at just over $2.5 billion and allowing PENGU to surpass it. The competition doesn’t end there. Other meme tokens like dogwifhat (WIF) and Fartcoin (FARTCOIN) are vying for investor attention. On Christmas Eve, the former reached an all-time high of $1.02, pushing its overall worth beyond the $1 billion mark. However, despite Fartcoin being among the top gainers across seven days with a price increase of 13.1%, it has plummeted 15% since December 25. With a unit currently changing hands at about $$0.986, its $1.072 billion market cap is still some ways behind WIF’s $1.9 billion. The post PENGU Overtakes BONK, Becomes Top Meme Coin on Solana at $2.6B Valuation appeared first on CryptoPotato . Coincu

Bybit Invites Traders to Embark on a Token Treasure Hunt

Dubai, United Arab Emirates, December 26th, 2024, Chainwire Bybit , the world’s second-largest cryptocurrency exchange by trading volume, today announced the launch of its exciting “Token Treasure Hunt” campaign . This event invites selected traders to embark on a rewarding journey filled with opportunities to win prizes and exclusive rewards. Unlocking Opportunities Through Participation From now to January 16, 2025, participants can dive into a treasure trove of opportunities. By completing a series of engaging tasks, traders can get valuable lucky draw tickets. The more tasks they complete, the higher their chances of winning. A Chance to Explore Token Rewards With each lucky draw ticket, participants can spin the wheel of fortune and potentially win a range of enticing tokens, including COOK, GRASS, SMILE, NS, STOP, and OL. The more they trade, the greater their chances of winning bigger and better rewards. Participation Guidelines: Trading Activity: Spot trading volume on any trading pair contributes toward eligibility for lucky spins. Referral Activity: Referrals who meet the deposit and trading criteria during the campaign period contribute toward additional lucky spins. This is a chance for traders of all levels to test their skills, potentially win prizes, and join the thrill of the hunt. Users can the website for complete details and terms and conditions. About Bybit Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com. For more details about Bybit, please visit Bybit Press For media inquiries, please contact: media@bybit.com For updates, please follow: Bybit’s Communities and Social Media Contact Au Tony Bybit tony.au@bybit.com Coincu

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