BONK ($BONK) is Solana’s answer to Ethereum-based meme-token DOGE. As of the time of writing, it is almost single-handedly reviving the price of Solana and its ecosystem! It is the newest meme-coin that has been trending since the start of 2023, and the coin shows a massive upsurge in price gains and is also responsible for a huge influx of daily active users in the Solana ecosystem. So, what’s all the hype behind BONK? Learn more below!
What is BONK?
BONK is Solana network’s first-ever meme-coin, similar to Dogecoin and Shiba-Inu coins on the Ethereum network. On the official Bonk website, it states that the Bonk contributors were “tired of toxic “Alameda” tokenomics and wanted to make a fun memecoin where everyone gets a fair shot.” They have certainly kept their promise. In fact, BONK is single handedly carrying the Solana network from its 2022 low of ~$8 and raising its value to (currently) around ~$16.
To clarify, the Solana community received 50% of the total BONK supply as an airdrop during the launch. The 50% airdrop is split as follows:
- 20% to 40 Solana NFT collections, such as Cyber Samurai, Lily, Lotus Gang, SolGods, and more. The total number of NFTs of all projects circle around 297,000.
- 15% to Early Openbook Traders
- 10% to Solana Artists and Collectors
- 5% to Solana Developers.
How Can I Buy BONK Cryptocurrency?
The BONK token launched in December 2022, but is already available on various crypto exchanges and marketplaces. The largest share of BONK is on BKEX exchange, which is a popular exchange, especially in the Asian markets. Other exchanges that you can purchase BONK from include Huobi, Gate.io, Bybit, MEXC, LBANK, CoinEx, Bitrue, Bitmart, Bitforex, and more. The trading pairs for BONK include USDT, USDC, and USDD.
The current price of BONK is $0.000000007. As of the time of writing, 5 trillion BONK has been burnt. This makes the supply of total BONK tokens down to 94.12 trillion BONK.
More About the Bonk Solana Token
BONK is inspiring and spearheading a mini-bull run on the Solana network. Moreover, there is also an official BONK NFT project from the same contributors – the BONKz NFT project. The BONKz NFT project is a 15,000 piece PFP NFT collection. It sold out immediately after launch in just a few hours. We have previously covered how BONK was a major reason that the active wallets in the Solana network grew 3x after the FTX fallout of last year.
The meteoric rise of BONK also establishes the importance of meme culture and meme coins in web3. Memes are not only a powerful marketing tool for web3, but also are shaping to be the way the industry shapes itself and establishes new voices from the community.