• BONK is a meme coin that recently launched on the Solana network that has a circulating token supply of around 41.5 trillion and a market capitalization of around $63 million.
• The 50% of BONK distribution was split into fractions and 20% went to Solana-based non-fungible token (NFT) collectors. 15% was distributed to early openbook traders, 10% to Solana artists and collectors, and 5% to Solana developers.
• BONK started to see real-world value on Dec. 29, 2022, when it was trading for $0.000000086142 per token. By Jan. 5, 2023, it jumped to an all-time high (ATH) at $0.00000487 per BONK.
The crypto asset bonk inu (BONK) has been the talk of the town in recent times, grabbing the attention of crypto enthusiasts with its wild price fluctuations and massive holder concentration. With a circulating token supply of around 41.5 trillion and a market capitalization of around $63 million, BONK has become the sixth-largest meme coin asset.
BONK is a meme coin that was launched on the Solana network and has been described by its development team as „the first Solana dog coin for the people, by the people with 50% of the total supply airdropped to the Solana community.“ The airdrop boosted the price of solana (SOL) as the project has been dealing with negativity stemming from its former relationships with Sam Bankman-Fried, Alameda Research, and FTX. The 50% of BONK distribution was split into several different parts; 20% went to Solana-based non-fungible token (NFT) collectors, 15% was distributed to early openbook traders, 10% to Solana artists and collectors, and 5% to Solana developers.
The meme coin began to gain traction in late December of 2022, with its price starting at a low of $0.000000086142 per token. However, just a week later, the price of BONK saw a meteoric rise, with the token reaching an all-time high (ATH) of $0.00000487 per BONK on January 5th, 2023. Unfortunately, the surge was short-lived as the coin quickly dropped back down to its original price just 24 hours later.
Since then, BONK has been seeing a lot of attention from the crypto community and has been steadily gaining in value. The coin has also seen a lot of holder concentration, with a few whales controlling a large portion of the total circulating supply. The team behind BONK has also been actively looking for ways to increase its user base, and is currently in talks to list the token on several major exchanges.
Overall, BONK has been a wild ride since its release, and it will be interesting to see how the coin performs in the future. With its high volatility and potential to make huge gains, the meme coin is sure to attract a lot more attention in the coming months.