A Solana network-based token “BONK” getting huge traction in the Crypto sector as a rival of Shiba inu token.
BONK inu is a meme coin, which was launched by the project team on the Solana network. According to the data available on the contracting website Coinmarketcap, BONK entered the Crypto market in the last week of Dec 2022.
In the last 7 days of trade price, the net increment in BONK trade price is 212%. At the time of writing this article, the BONK trade price is down by 19% over the last 24 hours trade price.
To this date, the BONK token secured more than 116,000 holders and also burned about 6% of its 100 trillion token offering. Reports noted that there are no centralised ways to burn this token but the project team transferred almost 6% of its supply to dead addresses.
This meme token is available on more than a dozen of Crypto exchanges, including Huobi, Gate, ByBit.
Experts believe that the BONK token may appear in the Crypto sector as a new meme token, more likely to Shiba Inu (Shib) & Dogecoin (Doge).
As we know, the Shib token runs on the Ethereum blockchain network but here Bonk runs on the Solana network, which is known for its highly efficient transaction fees & highly scalable network.
Meme coin trend
Initially, the meme coin trend started in late 2020, when Tesla CEO Elon Musk started to support Dogecoin as the best Crypto asset.
At that time, a group of people launched Shiba in token as a rival of Dogecoin. And later in mid-2022, the Shiba Inu token became a perfect rival of Dogecoin.
To this date, the Shiba Inu (Shib) project is no longer a meme coin project because the project team behind this token jumped into multiple Crypto & blockchain focussed development works like the Shiba Inu token Metaverse “Shiberse”, Shiba Inu stablecoin “SHI”, Shiba Inu focussed game, Shiba Inu token burning exchange “ShibSwap”, etc.
Read also: Cardano & Solana surges 20%+ within 24 hours
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