Introduction
BONK stands out as the inaugural dog-themed coin on the Solana blockchain, positioning itself as a currency “for the people, by the people.” Notably, 50% of the total cryptocurrency supply has been airdropped to the Solana community.
Following a similar memecoin concept as Shiba Inu (SHIB) and Dogecoin (DOGE), BONK was officially launched on December 25, 2022, and swiftly contributed to a 34% surge in the price of the SOL token within a mere 48 hours.
Trading commenced on December 30, 2022, generating significant interest within the cryptocurrency community.
The primary objective of the BONK team is to restore liquidity to decentralized exchanges (DEXs) based on the Solana network.
Developers envisioned the creation of a comprehensive community coin designed for utilization across all decentralized applications (dApps) built on Solana.
The unique aspect of BONK lies in its aspiration to provide every user with an equal opportunity to be part of the ecosystem, creating an environment “where everyone gets a fair shot.”
BONK was distributed through random airdrops to Solana NFT collectors, developers, and artists, while specific details regarding other airdrops remain undisclosed.
Currently, the project maintains a limited digital footprint on the internet, except an active Twitter account.
What Is Bonk Cryptocurrency?
Nevertheless, the recent upswing of Bonk, a meme token with a dog theme on the Solana blockchain, has garnered growing attention.
Launched in December 2022, Bonk has witnessed a remarkable surge of over 300% in the past 30 days and has achieved an impressive gain of over 1,000% since the beginning of September.
This performance positions Bonk as the top-performing meme coin in recent months.
The Founders Of Bonk Coin
The team steering the Bonk project has chosen to remain anonymous. As of January 2023, there is no exhaustive whitepaper available for investors on the official website.
Instead, visitors have access to a one-pager and the Bonk-paper, both containing essential details about token distribution, integration specifics, and links to the blockchain explorer, SolScan.
Why is Bonk (BONK) A Unique Coin?
Nearly half of the total supply, amounting to 50 trillion coins, is allocated to individuals actively contributing to the Solana blockchain’s maintenance and community development.
According to Orca, a decentralized exchange (DEX) established on the Solana blockchain, the airdrop has translated into an impressive $20 million in trading volume.
Since its listing on several prominent cryptocurrency exchanges on December 30, 2022, $BONK has witnessed a remarkable growth of over 2,000% within a single week.
Certain projects established on the Solana network have swiftly adopted $BONK as a payment option for NFTs, while others have introduced mechanisms for users to earn BONK tokens through staking their NFTs.
How Many Bonk (BONK) Coins Are In Circulation?
Aligned with the team’s strategic vision, 50% of the total supply of $BONK, equivalent to nearly 100 trillion coins, was distributed through an airdrop to Solana users, encompassing artists, creators, and active community members.
The comprehensive breakdown of the $BONK token distribution is as follows:
- 5% to Team Development;
- 5% to Marketing;
- 5% to Initial Liquidity;
- 15% to the Bonk DAO;
- 20% to Early contributors;
- 20% allocated to 40 Solana NFT collections, comprising 297,000 individual NFTs;
- 15% to Early OpenBook traders;
- 10% to Solana collectors and artists;
- 5% to Solana developers.
Bonk Is The Secure Network
Being a Solana-based token, BONK utilizes a distinctive blend of Proof-of-History (PoH) and Proof-of-Stake (PoS) consensus mechanisms, enhancing its throughput and scalability.
Solana, operating as a Layer 1 blockchain, is widely acknowledged as one of the most high-performance permissionless blockchains available, boasting remarkable speed and claimed throughput.
With a network consisting of 200 distinct nodes, Solana can process up to 50,000 transactions per second (TPS), establishing itself as one of the fastest networks in the market. That’s why Bonk is a secure network.
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How Can You Buy A Bonk Coin
BONK is tradable on various platforms, including Huobi, MEXC, Bybit, and Bitget. Additionally, it is accessible on Gate.io, Poloniex, Orca, LBank, BKEX, CoinEx, BitMart, Bitrue, DigiFinex, XT.COM, and BingX.
To stay updated on live BONK prices, you can download the CMC mobile app.
Explore our blog for the most recent crypto news and insights.
For a deeper understanding of meme coins and NFTs, visit our educational section on meme coins and NFTs – CMC Alexandria.
Bonk Coin Price
The current live price of Bonk is USD 0.000020, accompanied by a 24-hour trading volume of USD 504,472,750.
Our BONK to USD price is continuously updated in real time. Over the last 24 hours, Bonk has seen a 2.80% increase.
It boasts a live market cap of USD 1,239,822,270.
The circulating supply stands at 60,837,624,528,359 BONK coins, while the maximum supply is capped at 100,000,000,000,000 BONK coins.
The Rank Of The Bonk Coin
Presently, Bonk holds the #59 position in the market. The current Bonk price is 41.47% below its all-time high, while it stands significantly higher at 14,816.22% above its all-time low.
All data and prices are continuously updated in real time. Among the most active and popular exchanges for buying or selling BONK are Binance, Kucoin, and Kraken.
The Future Of Bonk Token
The Bonk price prediction for 2025 ranges between $0.00002627 on the lower end and $0.00006853 on the higher end.
If BONK reaches the upper price target, it could experience a gain of 230.67% compared to today’s price by the year 2025.
PI Token Value | December 2024
Conclusion
In conclusion, Bonk has emerged as a distinctive dog-themed meme token on the Solana blockchain, embodying a community-centric ethos with 50% of its total supply airdropped to the Solana community.
Launched in December 2022, it swiftly gained attention, contributing to a surge in the SOL token’s price and attracting significant interest within the cryptocurrency community.
The Bonk project, with its primary objective to restore liquidity to Solana-based decentralized exchanges (DEXs), strives to create an inclusive community coin for decentralized applications (dApps) on Solana.
Its unique approach aims to provide equal opportunities for all users to be part of the ecosystem, fostering an environment where “everyone gets a fair shot.”
Despite the anonymous nature of the Bonk team and the absence of an exhaustive whitepaper, the project has gained traction, particularly through airdrops to Solana NFT collectors, developers, and artists.
Although it maintains a limited digital footprint online, its active Twitter account serves as a point of engagement.
The recent surge in Bonk’s value, witnessing a remarkable increase of over 300% in the past 30 days and over 1,000% since September 2022, positions it as a notable performer among meme coins. The strategic token distribution, integration with NFT projects, and rapid adoption of cryptocurrency exchanges contribute to its prominence.
Functioning on the Solana blockchain, Bonk benefits from a unique combination of Proof-of-History (PoH) and Proof-of-Stake (PoS) consensus mechanisms, enhancing its throughput and scalability.
Solana’s reputation as a high-performance blockchain further solidifies Bonk’s position as a secure network.
For those interested in acquiring Bonk, the token is available on various platforms, with significant trading volume reported.
The live price, constantly updated on the CMC mobile app, reflects recent growth.
The future of Bonk is marked by price predictions for 2025, suggesting potential gains if the upper price target is achieved.
In summary, Bonk’s trajectory involves a blend of community engagement, strategic tokenomics, and technological underpinnings, making it a noteworthy player in the dynamic landscape of meme tokens and decentralized finance.