Bonk (BONK) cryptocurrency
BONK, also called Bonk Inu, is a meme token on the Solana< /a>. Like SHIB and DOGE, this is a dog-themed token.
It purports to be a token "for the people, by the people" and aims to be a truly community-driven project for Solana, which was hit hard by the events of 2022. That's why the team started with a 50% airdrop. of the total token supply (50 trillion coins) for free for those connected to the network, including NFT holders, artists, collectors, developers, etc. By the way, those users who are loyal to Solana recently received another good news - pre-orders have begun to arrive Saga Solana Mobile crypto smartphones; we covered it here.
Soon after the distribution, BONK skyrocketed in price by 2000%. This also helped SOL prices: thanks to newfound liquidity and viral news, the network began to recover from the fall in November 2022, when the decline of FTX began.
However, an equally sharp drop in the price of BONK followed: the coin lost half of its value in a few days. The team then decided to burn 5% of the token supply that had been allocated for future development. Then the amount burned was approximately $1 million. However, this did not fundamentally change the situation: the price remained at approximately the same level since the sharp drop ($0.000001).
At the moment, there is little to do with the functionality of the token itself. The developers describe it as "fun" and want to build a strong Solana community. The team plans to create BonkDAO and allow users to participate.
Bonk (BONK) Review
BONK was launched in December 2022. Many aspects are still unclear, such as who the founders are because they have remained anonymous. The mission of the project is to give everyone a chance and return cryptocurrency to the people.
Bonk (BONK) benefits
- Active community. Despite its relatively recent start, a strong and loyal group of users appears to have already formed. BONK had over 112,000 Twitter followers in January 2022.
- An honorable goal. At the moment, the token has managed to attract more liquidity to Solana.
Disadvantages of Bonk (BONK)
- Lack of utility. Like other meme coins, BONK does not currently have much practical value other than the ability to use the coins for online betting on multiple platforms.
- Lack of transparency. This has caused great skepticism among some Internet users, who suspect a "pump and dump" scheme.
