BONK, the first "meme" cryptocurrency in the Solana ecosystem, appeared in December 2022. This token demonstrated an astonishing growth of 3,766% during its first week of trading, partly due to an airdrop in which 50% of the coins were distributed among the Solana blockchain community.
The creators of BONK stated that their main goal is to increase liquidity on decentralized exchanges (DEX) in the Solana network, and for this purpose, they developed a coin suitable for use in all decentralized applications (dApps) of this ecosystem.
Since November, the value of BONK has increased by 471.3%, reaching an all-time high on December 9, surpassing meme leaders such as Dogecoin and Shiba Inu. In the last 24 hours, its value increased by 14.2%, the market capitalization exceeded $750 million, and the trading volume reached $151 million.
The growth of BONK is due to several factors, including positive sentiment among crypto investors, associated with the hype around the potential launch of the first spot Bitcoin ETF in the USA. Last week, Bitcoin also reached a new high.
BONK received support from major crypto platforms, including Binance, which launched perpetual futures for this token, and KuCoin, offering prizes for buying BONK. These events played a significant role in the growth of interest and value of the token.
