The new year arrived and with it a flurry of new meme coins. However, there is one that has made quite an impression in the markets and that is no other than BONK.
As many other meme coins, BONK’s image is a dog which could be (yet another) Japanese Shiba Inu. However, BONK is the first “dog themed” coin to run in Solana which comes with a few advantages like very fast transactions and low fees.
Maybe it is because all of the above that BONK that it went x40 in just 5 days(!!!) and it’s still trading at x10 from initial price. Current market cap according to CoinMarketCap is over $71 million USD and volumes are moving at around $10 million USD a day so it’s a meme coin with quite a lot of action. Oh! Did I mentioned that BONK was launched on New Years Eve? Yes, that is just 19 days ago.
Moreover, BONK has become a Twitter phenomenon thanks to Hey_Walltet where you can send Solana based coins with just a tweet! Something as simple as “@hey_wallet send XXXX $XYZ to @username” and that’s it! Fantastic idea!
It’s still early to call, but this monkey thinks that BONK can become THE Solana based meme coin and share royalty status with the likes of DOGE and SHIB.
This article is NOT financial advice, just a monkey typing stuff.
Pic Source: TheCoinRepublic
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