Solana-based memecoin BONK led a rapid surge in dog-themed cryptocurrencies, increasing by 30% as Bitcoin bounced back to over $98,000. Other notable tokens, including Dogecoin (DOGE) and Floki (FLOKI), also experienced significant rises of up to 20%. The performance of these memecoins outpaced the overall market, which saw a 4.5% increase in the CoinDesk 20 index. The resurgence is partly attributed to the positive sentiment in the market and underlying fundamentals. The CFTC recently highlighted FLOKI as a utility token, differentiating it from typical memecoins, due to its functional uses in their ecosystem. Additionally, BONK's community efforts to reduce the token supply via burns, with over 100 billion tokens burned, added to the increased interest surrounding it. This strategic approach aims to drive up the token's value due to scarcity, setting a unique premise for the future growth of BONK and the dog-themed token sector.

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