Dogecoin-rival Bonk records 380% gains since turn of year
Dogecoin rival Bonk recorded 380% year-to-date growth
Bonk explodes on social media and the project claims to want justice and fun back for Solana.
Dogecoin rival Bonk is seeing explosive growth, up 380% since the start of the new year.
Lively price dynamics pushed the token to a new all-time high $0.000000972799 early morning (UTC) January 3rd.
Scant details are available on the token. For example, a whitepaper is displayed without a link to Web site at the time of publication, and CoinMarketCap shows little background information about the project.
However, since the opening of trading on December 29, BONK recorded an increase of 653%. Similarly, trading volume has snowballed over the past 24 hours, increasing by more than 1800% to over $5 million.
The emergence of the Solana-based meme token comes at a time when the network is experiencing a crisis of confidence over its ties to the disgraced FTX exchange.
Bonk hype goes into overdrive
Mentions of Bonk in social networks flooded the chronicle of users.
Posts include mentions of airdrops, giveaways, meme posts, and comments on preservation And Union the Solana community during this challenging time.
However, among the many posts, there are also undisclosed promotions from known fake accounts.
Despite this, as evidenced by Bonk’s good price performance, interest in the project is growing. So much so that Solana is the leading NFT market by volume, Magic Edenmentioned Bonk as a candidate for integration with the platform.
“It’s a new year, maybe we should integrate some new cryptocurrencies or chainsShould we start with $BONK? I don’t know”
What do we know?
There is no shortage of dog memes in the crypto market. While the Shiba Inu came close to overtaking the original in terms of market capitalization last spring, to date, none of them have succeeded in displacing Dogecoin from the top spot.
According to Bonk siteand like Dogecoin and other Inu tokens, a project “for the people, by the people”, with five trillion 99 trillion tokens were sent to wallets that participated in the top 40 Solana NFT projects, early open book traders, Solana artists, collectors and developers.
The project emerged as a direct consequence of the “toxic tokenomics of Alameda” and aims to return justice and fun to the Solana community.
The authors of Bonk were tired of Alameda’s toxic tokenomics and wanted to create a fun memcoin where everyone gets an equal chance.
As of Jan 3 11:00 (UTC) MEXC exchange will list Bonk for USDT trading.
Credit : cryptoslate.com