Bonk has a maximum supply of 93 trillion coins, and more than 68 trillion have already been created, according to CoinMarketCap. A massive portion of its initial supply was distributed for free to the Solana community, helping generate support and enthusiasm for the project. The offers that appear on this site are from companies that compensate us. But this compensation does not influence the information we publish, or the reviews that you see on this site.
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However, unlike many of its counterparts, the token did not follow a typical price trajectory characterized by sharp rises followed by significant plunges that persist for several years. The exchange proves to be an excellent option for potential BONK investors, offering seamless token purchases and safe storage within what it claims to be one of the safest online wallets globally. For investors eyeing BONK, Binance emerges as an excellent option due to its provision of multiple trading pairs, including USDT, TRY, FDUSD, and more, enabling diversified purchasing avenues for the token.
Bonk community
Its deflationary burning mechanism promotes scarcity, which may continue to make it attractive as a buy-and-hold. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
What is BONK Coin?
If you have followed crypto over the past several years, you’ve heard of popular meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB). These tokens, themed after dog memes, rose to prominence overnight and saw price increases that were almost unbelievable. While Ethereum is popular, other chains exist that people are intent on using. Bonk likely does not much value for the end user in comparison to other projects. However, other meme coins have been in similar situations and still seen drastic price increases. While this does not mean that BONK will appreciate, a strong community could allow it to happen.
However, investors should exercise caution as the token has already experienced substantial price increases. Waiting for a slight correction might be advisable for those seeking more favorable entry points. At present, the project boasts an impressive community base, with over 649,000 holders and more than 100 integrations across various Web3 projects, extending its support to 10 different blockchain networks.
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The second-largest crypto, Ethereum, made a similar move in 2021, when it began burning transaction fees on its network. The Bonk cryptocurrency (symbol BONK) is based on Solana, one of the most popular coins, and so it’s integrated with the larger Solana ecosystem. The coin’s ultra-low price — miniscule fractions of a cent — means that even pocket change can buy you tens of thousands of coins. If you would like to know where to buy Bonk at the current rate, the top cryptocurrency exchanges for trading in Bonk stock are currently Binance, Bybit, OKX, DigiFinex, and Toobit.
- Waiting for a slight correction might be advisable for those seeking more favorable entry points.
- Presently, BONK holds the position of the third-largest memecoin by market cap, closely trailing Shiba Inu and Dogecoin.
- Caden has been involved with crypto since 2018, when he began investing, trading, and mining tokens.
- When assessing a digital asset, it’s essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility.
- Alex leans on his formal educational background (BSBA with a Major in Finance from the University of Florida) and his on-the-ground experiences with cryptocurrency starting in 2012.
With over 180 trading pairs available, the platform offers a vast array of cryptocurrencies within the DeFi, metaverse, and meme sectors. Bonk’s founders allocated 5% of its supply to marketing ventures, illustrating how important they can be to the success of meme coins. In 2023, BONK rose over 25,000% to become one of the largest meme coins by market capitalisation. In addition to a successful marketing campaign on TikTok, Bonk gained further notoriety when its 2023 success helped another Solana project, the Saga Phone, sell out. A promotion for 30 million airdropped BONK tokens with the purchase of the phone became particularly attractive when the value of the tokens surpassed the price of the phone. Bonk offers several innovative use cases that set it apart from typical meme coins.
Such collaborations enhance Bonk’s liquidity and accessibility, making it easier for users to trade and utilize the token. Designed on the Ethereum blockchain, Dogecoin20 pairs the original imagery, the original total supply, and the original ethos of Dogecoin with a new mechanic to give it long-term perks. Known as staking, this utility is modeled after the emission schedule of Dogecoin.
The meme coin is currently available as a presale and has raised more than $3.5 million already. Those who are interested in Dogecoin20 can visit the official website before the current presale stage ends. Meanwhile, an enticing alternative for investors lies in the Dogecoin20 project presale, which many believe could replicate the growth pattern witnessed by the original Dogecoin. While these methods might vary in availability across different platforms, here are some common ways investors can expect to acquire BONK tokens. As mentioned previously, BONK was initially introduced through an airdrop to many ecosystem participants before its official launch in the market.
BONKbot, powered by Jupiter, gives users a swift method to buy, sell, and manage trades. Bonkswap aims to create a hub of decentralized finance activity on Solana. MoonWalk introduces a unique concept by gamifying fitness with financial incentives. As the meme coin sector matures, there’s an increasing emphasis on differentiation and unique value propositions. From politically aligned tokens to AI-enhanced trading platforms, new meme coins strive to carve out distinct niches within the cryptocurrency ecosystem. Many speculators see future growth for BONK driven by its unique blend of social media popularity and utility, ongoing development, and the potential of market factors like April 2024’s Bitcoin halving.
The coin now ranks among the 100 largest cryptocurrencies by total value, according to CoinMarketCap. The main goal of the team is to bring back liquidity to Solana-based decentralized exchanges (DEXs). Recent news from the $AMC team hints at exciting developments for token holders. The project will reward AMC holders with a unique offering, described as a “LAMP original,” based on childhood experiences. This initiative demonstrates the project’s commitment to community engagement and building a solid connection with its supporters. The project’s primary use case is to support Donald Trump in the upcoming election.
BONK is built on the Solana chain, which is a cheaper and faster alternative of the famed Ethereum chain. If you are a beginner, we recommend that you check out our guide on how to buy cryptocurrency safely. This guide aims to explore https://cryptolisting.org/, where to acquire it, and its potential price for those keen on investing. Bonk’s integration into the Solana ecosystem is fairly robust, and support of the project (especially after minting a few millionaires) has grown.
According to the one-pager, BONK is the first dog-themed coin on Solana «for the people, by the people» with 50% of the total supply of the cryptocurrency airdropped to the Solana community. BONK is similar to Shiba Inu (SHIB) and Dogecoin (DOGE) memecoins, it was launched on December 25, 2022, and led to an increase in the price of the SOL token (a rise of 34% in 48 hours). Trading began on December 30, 2022, arousing genuine interest from the crypto community. Bonk has established itself as the social layer and community meme coin of Solana.
The project has implemented a unique tokenomics structure, burning 90% of its liquidity pool tokens and airdropping the remaining 10% to the Solana community. Recent developments highlight Bonk’s active community engagement and ecosystem expansion. The project recently announced winners of the Bonkathon, fostering innovation within its ecosystem. Bonk also participates in SwissBorg’s Meme Coins Battle Royale, competing against other popular meme coins. These initiatives showcase Bonk’s commitment to community involvement and market presence.
Operating as a completely remote company without physical offices, Coinbase serves over 100 countries and hosts more than 250 major crypto assets. Originally based in the U.S., Coinbase functions as a crypto trading and investment platform, allowing users to easily buy, sell, exchange, and securely store cryptocurrencies. The cryptocurrency market’s recent signs of growth has refocused investors’ attention on projects like BONK. Despite being a relatively newer memecoin, this crypto, built on Solana, has experienced significant growth in recent weeks.
These developments aim to not only enhance Bonk’s utility but also solidify its position as a staple in the crypto market. These risks are substantial, and traders in cryptocurrency must be prepared to lose their entire investment. As a memecoin, Bonk has benefited tremendously from social media such as TikTok, which has helped drive interest in the coin and contributed to the rapid growth during its short existence.
This is a place to post any information, news, or questions about the Solana blockchain. Web-scale blockchain with speeds of 50k TPS.This subreddit is operated by what is the statement of retained earnings the Solana Foundation. The tokens would remain with the platform until both parties confirm the PayPal payment, after which they would be released to your wallet.