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Project review, current developments, future events, DailyCoin community

Project review, current developments, future events, DailyCoin community

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Bonk (BONK): Project Recap, Current Developments, Future Events, Community Bonk, the chain’s first doge-themed memecoin, caused a sensation in the crypto community. Its native token, $BONK, has gained more than 3,600% in the first week of its launch, hitting its highest price of $0.000004922 on Jan. 5. Bonk has seen major burns since its inception, with the team burning up the $5 trillion BONK allocated to the team. In the last 48 hours, Bonk has been launched on multiple platforms including Gate.io, ByBit, Cream Finance, Form Function, and Kamino Finance.

project review

BONK will be the first dog-themed memecoin to be sold on Solana, which is “for the people, by the people.” In their official document, the developers stated that the contributors were fed up with the toxic “Alameda” tokenomics.

Their quest to “make a fun memecoin where everyone gets a fair shot” led to the creation of Bonk. Although Bonk launched on December 25, on December 8 the team began dropping hints in their first tweet.

Bonk has a list of partners on its website, including established Solana projects such as the Famous Fox Federation, Orca, Raydium, and Solend. The project attracted attention as the team dropped most of the tokens to developers building on the network.

$BONK, the project’s native token, has attracted a lot of attention since its inception, as the token was recently burned.

Social Media: Website | Twitter

Recent Developments

Bonk has been one of the most active platforms over the past few days due to the massive burning of $BONK tokens. The team is at the forefront of token burning and has introduced special features that allow users to burn tokens themselves.

On Thursday, January 6th, the Bonk Team announced that the $5 trillion $BONK tokens allocated to The Team were burned. This contributes to the growing number of other platforms burning the token.

Since its inception, Bonk has seen support for the token jump. In the past 48 hours, BONK has been launched on multiple platforms including Gate.io, ByBit, Cream Finance, Form Function, Kamino Finance, and Zeta Markets.

The increasing interest and popularity of Bonk is evident in recent on-chain data. In the last three days, Bonk has recorded more transactions than in the same period.

On Jan. 4, Valida3rs, a technology company that validates blockchains, announced a collaboration with Bonk. As part of the collaboration, anyone developing on $BONK can now get a free Remote Procedure Call (RPC (NYSE:)) endpoint.

The Bonk team also announced that they are working on the issue where some Openbook $BONK airdrops were being sent to unintended open order accounts and not to the traders themselves.

According to the announcement, the Bonk team is working with the Jupiter Exchange team to provide a solution to fix this issue to the best of their ability.

price updates

Bonk (BONK) has one of the most talked about cryptos because the massive burning of the token caused its price to skyrocket.

The seven-day price chart for Bonk (BONK). Source: CoinMarketCap

In the first week of its launch, BONK’s price shot up as much as $3,600, much to the delight of investors. On December 30, 2022, BONK traded at $0.00000009197 but rose as high as $0.000004922 on January 5, 2023.

The 24-hour Bonk (BONK) price chart. Source: CoinMarketCap

After the massive rally, BONK’s price has fallen by 53% in the last 24 hours. BONK is now trading at $0.000001561 and has a market cap of $85.79 million.

future events

Bonk’s one-page paper explains that the team will push for integrations with many Solana projects for 2023. The goal of BONK is to be a Solana library (SPL) token that can be used across the Solana network.

On the flip side

Popular altcoin Solana (SOL) was one of the hardest-hit cryptocurrencies in the FTX disaster, which resulted in developers leaving the chain. Crypto entrepreneur David Gokhshtein has said that Solana’s days are numbered as developers switch to other options.

community

Launched in the midst of one of the biggest events in the crypto space, Bonk quickly garnered many influencers and a large following. Although its community is still growing, it actively competes with other meme coins in terms of social media metrics.

The project’s community-oriented paper also helped attract members to the project. Like members of other meme coin communities, bonkers are very optimistic about the project and often use Twitter to share their ideas. @AbirHore wrote:

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So many meme coins airdrops, but why should we support @CommunityBonk? Many meme coins will come and go, but the bonk community will stay together even when this meme coin season is over. Best wishes from my side. $BONK pic.twitter.com/kibdoOyglm

— Abir | Sui GOAT (@AbirHore) January 6, 2023

Optimistic about Bonk, Twitter user @0middleman0 wrote:

$BONK to the MOON Still don’t own $BONK? Leave your address in the comments, I’ll send you some

— Middleman.sol(1%) (@0middleman0) January 5, 2023

The activity of the Bonk community on social media resulted in it being voted the best meme coin on the DegodsNFT Twitter founders page. He replied and wrote:

The people have spoken! $BONK is for people to win !RT and drop your wallet down must follow to win I will post solscans pic.twitter.com/tPVbIriYYa

— zk- (@ZK_shark) January 5, 2023

Why you should care

As the first meme coin in the Solana ecosystem, Bonk is a fan favorite that can compete with more established projects. This is reinforced by the project’s focus on the community. By integrating with the major projects of the Solana ecosystem, BONK could become one of the highest utility tokens in the crypto space.

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