The Solana-based memecoin BONK has overtaken FART to become the top Solana meme coin by market capitalization. BONK has entered the top 60 cryptocurrencies by market cap and has risen 32% over the past seven days. Market participants are anticipating a potential breakout for BONK, with some investors increasing their holdings in expectation of further gains. The token's momentum has attracted attention in the crypto community, including sponsorship of live streams and discussions around its price movements. Bitcoin (BTC) remains at midrange levels during this period of BONK's rising activity.