What is Bonk Crypto? 10x Gain on the New Solana Dog Memecoin
By:C, Fiona
The internet has been swept away by Bonk in Solana. With a market worth of almost $50 million, the new memecoin has increased in value by a factor of ten in the previous week.
Bonk Was Dropped Via Airdrop to Solana Community
I was wondering whether you were familiar with Bonk. Spreading holiday cheer among the Solana community, the new dog memecoin has had its market cap increase by 983% since December 29 and surpass the $50 million mark, as measured by CoinGecko.
For the past week, the token, which is being promoted as “The first Solana Dog Coin for the people, by the people,” has been trending on Solana Twitter. According to Bonk’s one-pager, half of the total token supply was airdropped to Solana Non-Fungible Token (NFT) investors, traders, artists, and developers right after the token sale.
Established Solana initiatives like Famous Fox Federation, Orca, Raydium, and Solend are among the list of collaborators that can be found on Bonk’s website.
Bonk was officially released on December 25 but had been teasing users since December 8.
— Bonk! (@bonk_inu) December 8, 2022
The market cap of $BONK has now surpassed that of the original Solana dog memecoin Samoyedcoin ($SAMO) by a factor of roughly five. Samoyedcoin’s market cap is currently at $11 million, after increasing by over 15% in the past 24 hours. In October of 2021, $SAMO’s market valuation surpassed $700 million, an all-time high.
What is Solana?
The Solana blockchain is an open-source public ledger that supports smart contracts, NFTs, and other types of decentralized applications (dApps). Native to the Solana blockchain, the SOL token facilitates value transfers and ensures the safety of the network through staking.
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