Solana escalated 16% as BONK lifted off


  • BONK is currently up 58% after being flown to Solana NFT owners.
  • BONK made its debut in late December, distributing it for free to Solana programmers and NFT owners.
  • There have been 100 trillion BONK tokens created.

BONK was airlifted to Solana developers, artists, and NFT owners and is now up 58%. SOL has recovered significantly from its previous drop to roughly $8, and the source of this week’s excitement seems to be a fresh dog-themed coin titled BONK.

In late December, BONK made its debut with a sizable airdrop that distributed free tokens to the wallets of a wide range of Solana developers and NFT collectors. It includes programmers that entered LamportDAO, a Solana building hub, as well as NFT holders from ventures like DeGods and the Famous Fox Federation.

Solana has gained 16% in the last 24 hours to around $12.90 as of this writing, according to CoinGecko statistics, with a weekly profit of 19%. Solana hit a seven-day high of $13.21 earlier this morning, but has since fallen slightly. The development of BONK, a Solana-based currency with the same “doge meme” motif as Dogecoin (DOGE) and the Shiba Inu-based token on Ethereum, has received a lot of recent attention from the Solana community (SHIB).

BONK saw a more than 100% day-over-day increase earlier today as the coin’s price continued to surge, but the trend has since slowed. Projects are being constructed using BONK and incorporating the asset, and the increased use and enthusiasm look to be fueling a rise in BONK’s price as well as SOL’s own worth.

A total of 100 trillion BONK coins have been generated. The BONK website states that 50% of the overall supply has been airdropped to programmers, NFT shareholders, inventors, and artists, with a portion of the leftover supply likewise secured into vesting clauses for BONK members.

BONK has been a growing topic of discussion and growth among Solana both developers and users on Crypto Twitter. 

SOL traded as high as $37 right before FTX‘s liquidity problem, and FTX’s intimate links to Solana appear to have plummeted its price worse than other popular cryptocurrencies such as Bitcoin and Ethereum.

SOL is still 95% below everything’s high of $260 set in November 2021 despite this week’s price hike. Solana’s value rose in December 2021 but dropped pretty dramatically the next year due to broader crypto industry difficulties, technical issues, and, finally, the extra impact of the FTX collapse.