Why Dogecoin, Floki Inu, and Bonk Are Surging Today
Don't look now, but the meme coin rally is continuing in earnest. Dogecoin (CRYPTO: DOGE), Floki Inu (CRYPTO: FLOKI), and Bonk (CRYPTO: BONK) are each seeing incredible gains during today's session. As of 3:15 p.m. ET, these tokens are up 16%, 11.7%, and 13.4% respectively over the past 24 hours.
With risk assets (specifically equities) continuing to make new highs on a seemingly daily basis, investors are clearly taking a risk-on approach to the markets. Investments that are more speculative in nature are performing well, as many look to move out on the risk curve to capture more of the market's upside. For those in the cryptocurrency world, this has meant surging demand for meme coins, many of which have little to no utility outside of being speculative trading vehicles to ride hype-driven waves.
For Dogecoin, which was initially created as a joke to highlight the absurdity of valuations in this space, this token's current valuation is raising eyebrows. Floki Inu, another dog-inspired token, is following suit. And Bonk, a prominent Solana based meme token, continues to climb the crypto market cap rankings.
Source Fool.com
