New Solana Memecoin $BONK Skyrockets In A Week!

New Solana Memecoin $BONK Skyrockets In A Week! 

The latest Shiba-inu themed cryptocurrency to grace the market has seen its prices skyrocket by triple digits within the past week alone as excitement for Solana’s future grows again.

About $BONK

Bonk, a Shiba Inu-themed memecoin which was first launched on December 25th 2022 saw its trading volume soar massively within the last week, with the $BONK price having surged by more than 140% the past 24 hours, and up to 4,000% the past week, according to data from CoinMarketCap.

One of the reasons for this memecoin’s sudden success may be due to the fact that Bonk has been dubbed as the first dog token on the Solana blockchain, competing against other major dog tokens like $SHIB and $DOGE.

According to the BONK website, up to 50% of the total coin supply has been airdropped to developers, NFT owners, creators, and artists during it’s launch, causing a wave of excitement throughout the Solana community.

Related: Ripple CEO: Optimistic On Regulatory Clarity For Crypto This 2023!

Solana Up

Solana has also been benefiting alongside BONK’s massive surge this past week. Aside from an increase in daily active users, Solana’s price has risen by up to 38.36% the past week, according to data from CoinMarketCap.

Solana is now trading at a price of around $13 at the time of writing, a massive rebound from it’s price of around $8 just earlier last week, the lowest price the coin has ever recorded in the past 2 years.

Along with Ethereum founder Vitalik Buterin’s support for SOL back in late December, it seems that Solana is slowly starting to pick itself back up, with many in the community hopeful that it will reclaim its spot in the top 10 rank of cryptocurrencies.

Related: Vitalik Buterin Reveals Why He’s Bullish For Ethereum In 2023!

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