After the all-time record cryptocurrency price spike of 2021, and after suffering the Luna implosion of 2022 and seeing countless crypto businesses go bankrupt, the meme coin scene launched on the Solana network is new to the scene. entered the The cryptocurrency BONK dog (BONK) has a token supply of approximately 41.5 trillion and has successfully amassed a market capitalization of approximately $63 million.
BONK sees market cap surge to $204 million before plummeting to $63 million in 24 hours.
The cryptocurrency community has been discussing a new meme token called BONK, Dogecoin (DOGE), and Shiba Inu (SHIB) Wannabe, which is currently the sixth largest meme coin asset. According to the BONK development team and its “One Pager”, Bonk is “the first his Solana dog coin for people, by those who have his 50% of the total supply airdropped to the Solana community.”
The airdrop recently boosted the price of solana (SOL) after the project has been dealing with negativity stemming from its previous ties with Sam Bankman-Fried, Alameda Research, and FTX. Fed up with the toxic ‘Alameda’ tokenomics, we wanted to create a fun memecoin where everyone had a fair chance,” Bonk’s one-pager further explains.
50% of the BONK distribution was split into fractions and 20% went to Solana-based non-fungible token (NFT) collectors. 15% went to early open book traders, 10% to Solana artists and collectors, and 5% to Solana developers. BONK started seeing its real value on December 29, 2022 when it was trading at $0.000000086142 per token. By January 5, 2023, it has soared to an all-time high (ATH) of $0.00000487 per BONK. However, 24 hours later on Jan 6, BONK fell 67.9% from the token’s ATH.
The cryptocurrency’s market capitalization has reached over $204 million, with a market valuation of around $63 million on January 6th. His BONK circulating supply today is around 41.5 trillion, whereas it used to be around 56.02 trillion, according to archive.org snapshots. According to the BONK team, BONK tokens will be burned to create rarity, just like the Shiba Inu (SHIB).
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Coincarp.com data recorded on January 6, 2023.
January 5th, BONK Team Said 5 trillion meme tokens destroyed. Additionally, there are 110,017 of his BONK holders, and data from coincarp.com shows that the top 10 holders control his 36.81% of the supply. 20 BONK holders command 46.31% of the supply, with 58.32% of BONK held by the 100 richest BONK dog addresses.
What do you think about the Solana meme coin called BONK? Let us know your thoughts on the matter in the comments section below.
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