In this post, I delved into the world of the Solana-based meme coin, Bonk, why it is pumping, and why it's a good HODl for the upcoming bull run The post BONK Token: 2 Reasons To Buy Now, Don’t...
Who let the dogs out? LOL, BONK did!
It’s been a wild ride for Solana fans throughout 2023 as BONK skyrocketed to the moon stealing the spotlight.
BONK soared by an astounding +6000%, catapulting it to the third-largest meme coin by market cap.
Now the moon boys are wondering: Is it the right time to buy or is it wiser to play dumb?
In this post, I delved into the world of the Solana-based meme coin, Bonk, why it is pumping, and why it’s a good HODl for the upcoming bull run.
Post Summary
What’s Bonk Inu All About? BONK Token: Tokenomics|What’s Driving the Price Where To Buy BONK Token Is It Late To Buy BONK? ConclusionWhat’s Bonk Inu All About?
Bonk Inu is a dog-themed meme coin built on the Solana blockchain.
It launched as a free airdrop to the Solana community on Christmas Day 2022. Talk about Santa Claus!
However, Bonk wasn’t just issued, it burst onto the scene to revitalize the Solana Community reeling from FTX’s collapse, since the founder, Sam Bankman-Fried was known to be a key supporter of the network.
Bonk Inu doesn’t have an identified founder; instead, it’s a collaborative effort among a team of 22 individuals
There’s no single leader, and all team members were previously Solana developers.
Since its inception, the project has garnered significant traction and adoption, rocketing past Floki and Pepe to become the third largest memecoin.
BONK Token: Tokenomics|What’s Driving the Price
BONK is the ticker symbol for Bonk Inu.
The supply is capped at 100 trillion tokens, distributed by the team as outlined below.
SOL NFT Projects – 21% Market Participants and DEFI users – 15.8% Artists & Collectors – 10.5% Solana DEVS – 5.3% Early Contributors – 21% BONK DAO – 15.8% Initial Liquidity – 5.3% Marketing – 5.3%As per the latest data in December 2023, 60.84% of BONK has been distributed into circulation.
Much like meme coins, BONK lacks inherent utility. Despite this, it has risen significantly, delivering jaw-dropping profits to holders ever since.
This meteoric rise, which has left many scratching their heads might be partially fueled by its integrations.
BONK is integrated into more than 100 projects, from DeFi platforms to NFT marketplaces, wallets, etc.
Among the notable platform integrations are:
These integrations must have significantly expanded its applications, enhancing its rapid adoption.
In addition, its recent listings on industry giants like Coinbase and Binance are also pivotal moments, fuelling its price pump.
BONK skyrocketed 40% and 60% within 24 hours of listing on Coinbase and Binance, respectively.
See where to buy Bonk?!
Where To Buy BONK Token
These are top-tier exchanges to buy BONK.
| Exchanges | Trading Pairs | Site Links |
| Bybit | USDT | Visit Site |
| Binance | USDT, FDUSD, TRY | Visit Site |
| Coinbase | USD | Visit Site |
| Kucoin | USDT | Visit Site |
| Bitget | USDT | Visit Site |
Prefer to buy from Dexes? See below:
Raydium Serum DEX Orca BonkSwap JupiterMissed the gains or still time to “Bonk” on? ?
Is It Late To Buy BONK?
The answer, like most things in crypto, isn’t a simple “yes” or “no.”
Here’s why you shouldn’t fade BONK:
Speculative AirdropRecently, the Bonk community has been buzzing about a potential Christmas airdrop, similar to the first one.
This Speculation started after the team ran a 12-day campaign called “Bonkmas”
The Campaign is a fun way of celebrating BONK’s anniversary and is intended to reward the community for participating in activities on the Solana blockchain.
Interestingly, there’s speculation about BONK being airdropped to holders as a result of this event.
This means that holding Bonk may position you for a potential airdrop. Note that this is only speculation and not confirmed information.
Solana’s Big ComebackBONK was launched with the clear goal of winning back community trust. This is evident from the start.
It goes to say that any issues with BONK could impact the community’s trust. I’m sure the Solana team wouldn’t want that!
BONK currently stands strong with over 520,000 holders.
What’s intriguing is the Solana team’s daily effort to grow this number by generously airdropping BONK to Saga (Solana’s Andriod phone) buyers.
These holders, by actively engaging in the Solana ecosystem—staking, yield farming, providing liquidity, or holding for the long term, have the potential to boost BONK’s price, making it a good hold for the next bull run.
However, given the unpredictable nature of crypto, it is advisable to invest in BONK only with money you can afford to lose.
It’s also worth noting that BONK’s recent surge could be followed by a strong correction, a reason to play safe.
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Conclusion
In nothing short of incredible, BONK has emerged as the meme coin of the moment, delivering unexpectedly substantial profits for holders.
For those who missed out, there’s still a chance that it may make yet another impressive move, owing to the Solana revival and the upcoming bull run.
What are your thoughts on BONK’s recent performance?
Are you considering it for your portfolio or you will pass?
Share your thoughts in the coming section
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The post BONK Token: 2 Reasons To Buy Now, Don’t Miss The Next Big Pump! appeared first on NIGERIA BITCOIN COMMUNITY.
