🐕 BONK: The Meme Coin Challenging Market Leaders
Earlier this week, BONK surged 16% in a single day, reaching record highs.
It’s no surprise, given the token’s popularity on Coinbase and its strong backing within the Solana ecosystem.
📊 Why is BONK in the spotlight?
🟡 Record trading volumes: Over the past 24 hours, BONK’s trading volume on Coinbase reached $384 million, surpassing DOGE, SHIB, and PEPE.
🟡 Chart breakout: BONK exited a consolidation phase and rebounded from a triple bottom, signaling a bullish trend.
🟡 Undervaluation: With a market cap of $3.6 billion, BONK looks more appealing than DOGE (which peaked at $90 billion) and SHIB ($43 billion).
🟡 Deflationary measures: The token's DAO plans to burn 1 trillion tokens by December, creating scarcity and increasing value.
💬 Market Momentum and Trader Opinions
Launched in December 2022 as a response to the FTX collapse, BONK has become a key part of the Solana ecosystem.
Traders highlight that the token is currently in a "risk-on" phase—aligning with high activity in the meme coin market.
🟡 @iamkadense: "The market is shifting to risk. $BONK is essentially a bet on Solana's continued growth. We've seen market leaders like DOGE and SHIB reach incredible peaks, and BONK has every chance to follow suit."
🟡 @theunipcs: "BONK is undervalued. With a $3.6 billion market cap, it has huge potential compared to DOGE and SHIB’s past peaks."
🔥 Token Burns: How Does It Work?
BONK’s deflationary strategy is drawing attention:
🟡 Recently, 100 billion tokens were burned, with plans to remove another 1 trillion from circulation by December.
🟡 Burns are conducted through popular Solana apps, including Dragontail staking and LiveBonk transactions.
🐕 What’s Next?
BONK already holds a prominent position among meme coins, but its journey is just beginning.
The BONK token burn isn’t the only exciting news from last week — stay tuned for more updates! 🔥
Crypto Showcase 💸
Earlier this week, BONK surged 16% in a single day, reaching record highs.
It’s no surprise, given the token’s popularity on Coinbase and its strong backing within the Solana ecosystem.
📊 Why is BONK in the spotlight?
🟡 Record trading volumes: Over the past 24 hours, BONK’s trading volume on Coinbase reached $384 million, surpassing DOGE, SHIB, and PEPE.
🟡 Chart breakout: BONK exited a consolidation phase and rebounded from a triple bottom, signaling a bullish trend.
🟡 Undervaluation: With a market cap of $3.6 billion, BONK looks more appealing than DOGE (which peaked at $90 billion) and SHIB ($43 billion).
🟡 Deflationary measures: The token's DAO plans to burn 1 trillion tokens by December, creating scarcity and increasing value.
💬 Market Momentum and Trader Opinions
Launched in December 2022 as a response to the FTX collapse, BONK has become a key part of the Solana ecosystem.
Traders highlight that the token is currently in a "risk-on" phase—aligning with high activity in the meme coin market.
🟡 @iamkadense: "The market is shifting to risk. $BONK is essentially a bet on Solana's continued growth. We've seen market leaders like DOGE and SHIB reach incredible peaks, and BONK has every chance to follow suit."
🟡 @theunipcs: "BONK is undervalued. With a $3.6 billion market cap, it has huge potential compared to DOGE and SHIB’s past peaks."
🔥 Token Burns: How Does It Work?
BONK’s deflationary strategy is drawing attention:
🟡 Recently, 100 billion tokens were burned, with plans to remove another 1 trillion from circulation by December.
🟡 Burns are conducted through popular Solana apps, including Dragontail staking and LiveBonk transactions.
Token burning involves sending tokens to an irreversible address, permanently reducing the total supply.
🐕 What’s Next?
BONK already holds a prominent position among meme coins, but its journey is just beginning.
With the strength of the Solana ecosystem, an active community, and growing scarcity, BONK is well-positioned for further growth.
The BONK token burn isn’t the only exciting news from last week — stay tuned for more updates! 🔥
Crypto Showcase 💸