BONK is the "dog coin of the people." But we already know two of those. Wasn't that Dogecoin? Or Shiba Inu? Anyway, Solana felt the need for a memecoin of his own. So BONK's mission is to become the #1 community coin in web3. They want to accomplish this by increasing integrations in the areas of multi chain, DeFi and gaming. Further integrations are in the areas of exchange, NFT, developers, payments, social media and wallets. There is also a proprietary BONKswap. With their Wormholescan, you have a true cross-chain block explorer in your hands. It allows you to see what assets are all traded between particular networks.
They also have a BONK bot there. This is a Telegram bot that is super fast. So you can enter a token address and then this bot instantaneously buys this coin automatically. Through the bot you can get commissions for referrals, namely 30% in the 1st month, 20% in the 2nd and 10% forever. This also includes a PNL (profit and loss) feature and all kinds of tools to help you. 100% of fees go to buying $BONK and 10% of all fees burn $BONK immediately. Of course, trading through bots and through Telegram channels is not the most secure way to trade. Therefore, we recommend the Anycoin Vault to buy BONK for maximum security.
BONK was launched on the Solana network on December 25, 2022, Christmas Day, as a Christmas gift to the Solana community. After all, the Solana network also deserved its own memecoin. Since they don't really like cats there either, they just made it a dog meme coin. This dog looks suspiciously like yet another Shiba Inu dog, although BONK does have three exclamation points hanging above it.
A funny part of this meme is a social media image, with one dog hitting the other with a stick with BONK large in the picture, meant to punish rather sexual innuendo on social media with a meme.
At launch, half of the total coins were distributed as airdrops to users on the Solana network, such as Solana developers, artists, NFT projects and Openbook merchants. Suddenly it was raining millionaires, as a total of 100,000 billion BONK.
BONK was launched as a joke by anonymous developers, as is more common with these types of coins. Within the first week, however, it went up about forty times. It didn't take long for people to start taking BONK seriously. In addition, BONK was also launched to boost the decentralized exchanges within Solana.
It began to rise further when separate BONK pools entered the market, which allowed you to earn BONK without having to deposit a second cryptocurrency, as is normally the case in liquidity pools.
When this cryptocurrency was available on the major crypto exchanges it went all the way in late 2023. BONK went up 100 times. Solana rose along with this coin (or was it the other way around?), so a relationship between the two is obvious. Something that also comes into play is Solana's Saga crypto-phone. It costs around $600, but you can earn up to 30 million BONK in airdrops when you buy it, which is more than the purchase price at the current market price of BONK.
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In it they explain what they have in mind and what it all means. In the paper is the Core thesis, where they complain that there are too many loot coins (back pull) on Solana and that they are going to do better. They did provide proof directly by airdropping half of all the coins. The rest of the coins will be used to support both the BONK and Solana ecosystem. Next, they elaborated on the allocation of coins.
Very nice of them that in their white, or , BONK paper, they also talk about the risk if you buy this coin. Forewarned is forearmed, so that doubling is a good thing.
There are a total of 100,000 billion tokens that will be phased into the market. There is relatively high trading volume, as you often see with meme coins. This can either drive up the current price of BONK or quickly go the other way. For example, in 24 hours there can be a 24% increase in BONK. Another day it can be the exact opposite.
There are a lot of ways to earn this coin, if interested please refer to their website. The current market capitalization is around 700 million euros.
Buying BONK can be very exciting. You get a lot of coins and soon start thinking about: "What if this coin becomes worth a penny or even a euro?"
Unfortunately, it doesn't work that way. Suppose it becomes 1 cent, then it has a marketcap very similar to Bitcoin's. If it becomes a euro, then it is worth about 100 times as much as Bitcoin overall in terms of market cap. That kind of scenario doesn't normally happen in the crypto world, although sometimes the market seems rather illogical. It is fairly strange that a coin that is merely about a picture of a dog can be worth more in total than coins that have significant value to developers or users. In the real world, of course, that doesn't happen.
If we consider usual scenarios you will have to consider the following:
BONK still takes off. In this scenario, BONK makes a similar development as DOGE or SHIB. BONK will then still go x10.
BONK is going to bounce. Occasionally it will be quite a bit above what it is now and then quite a bit below. You then have to buy or sell at the right times.
A common scenario with memecoins is a strong advance, pass for a while before diving down. Only Dogecoin and Shiba Inu have managed to settle.
Obviously, we cannot give advice. We can only display possibilities. Do good research and limit your risks, as memecoins will always remain fun, yet risky coins.