In the latest Bitcoin-driven market rise, Solana-based dog coins BONK and Dogwifhat (WIF) have outperformed their more established counterparts, Dogecoin (DOGE) and Shiba Inu (SHIB).​

In the last 24 hours, BONK has increased nearly 11%, and Dogwifhat (WIF) has demonstrated even stronger performance, rising over 22% in that time frame. Although Dogecoin (DOGE) and Shiba Inu (SHIB) are posting significant gains, this remains less than those seen for WIF and BONK, suggesting increasing investor interest in Solana-based meme coins. DOGE was up 4.94% in the last 24 hours as of press time, while SHIB was up 7.27%.

Based on weekly performance, WIF and BONK also saw higher gains, up 58% and 32%, respectively, while Shiba Inu and Dogecoin both increased by 17%.

At press time, WIF and BONK were trading at $0.638 and $0.00001583, respectively. Shiba Inu and Dogecoin exchanged for $0.000014 and $0.181.

What's happening?

After weeks of lackluster activity and lower liquidity conditions, the market finally responded positively to a broader macro catalyst, with both equities and cryptocurrencies rising higher.

Bitcoin topped $95,000 in the early Friday session, increasing for the seventh straight day since April 19. Following a steady rise from lows of $0.00000885 on April 7, BONK surpassed the daily SMA 50, which had capped its price since December 2024, reaching highs of $0.00001644 early Friday.

BONK recently revealed its new Community Driven Mission, R.E.A.D., which represents four major tenets the BONK Community has advocated for: Reduce Supply, Expand Awareness, Accelerate Adoption and Drive Revenue.

The WIF price reversed course following a prolonged downward trend, which culminated in consolidation and began increasing on April 18. The rise surpassed the daily SMA 50 barrier at $0.453, reaching intraday highs of $0.649 early Friday.