The last few days were filled with news about the new Solana meme coin's massive and quick gains. BONK launched last month, airdropping half of its total supply to Solana community. BONK, the first ever Solana Dog Coin claims that it is "For the people, By the people" and it's here to to alleviate the "toxic Alameda tokenomics... and ....make a fun meme coin where everyone gets a fair shot" according to the coin's website. The airdrop was divide to four groups in the following way:
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20% to Solana NFT collections, comprising of 297,000 individual NFTs
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15% to early open-book traders
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10% to Solana artists & collectors
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5% to Solana developers
BONK price in the last 7 days
BONK rose with a resounding 2400% in the last 7 days with its price hitting $0.00000487 on January 5th after a starting price around $0.000000086. But the price did show 55% decline in the last 24 hours. This created a substantial buzz around the coin and became headlines of most crypto news sites.
The current hype is also a great news for Solana. After the platforms struggle after the fall of FTX, this was the long awaited good news that featured the name Solana. BONK also gave the price of SOL a light nudge in the right direction. It helped SOL to be traded in double figures again.
Although most are focusing on the huge gains of BONK, some are still skeptical because of the vagueness of its whitepaper. Personally, I don't like overnight sensation coins but I guess this kind of price swings are expected when dealing with meme coins.
If you are interested in trading BONK, here are some platforms to checkout:
- Huobi
- MEXC Global
- XT.com
- BingX
- DigiFinex
- Bitget
So what are your thoughts on BONK?...... Let me know in the comment section.
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Disclaimer
I am not a financial advisor. The information found here are for educational purposes and cite my personal opinion.
