BONK rises nearly 40,000% in a year

BONK, the largest memecoin on Solana, has entered the list of top-performing cryptoassets following its impressive price surge within one year of launch.

Founded by an anonymous team of developers, the Solana community coin was launched on 2022 Christmas Day. The launch was accompanied by an airdrop involving 50% of BONK’s total supply. 

In particular, 50 trillion BONK tokens were airdropped to four distinct groups in the Solana ecosystem, including 40 active NFT projects, DeFi traders, artists & collectors and developers. 

However, interest in the memecoin was relatively low until its recent price increase triggered by several factors, including the Solana ecosystem boom and bull market speculations. 

BONK’s massive rally

The memecoin season seems to be here again. And the spectacular performances of projects such as Bonk (BONK) and Pepecoin (PEPE) are obvious evidence. 

As of December 29, 2022, BONK was valued at $0.000000086142 per token, marking its all-time low. Interestingly, the Solana-based memecoin has stunned the crypto market, deleting three zeros from its price and achieving a billion-dollar market cap within 12 months. 

On December 15, 2022, the memecoin clinched an all-time high of $0.00003416 according to Coingecko data. This translates to a massive surge of 39,555.5% in the price of BONK within a year.  

However, BONK is changing hands at $0.00002365 per token at the time of writing. This indicates an increase of 27,354% in the value of the Solana community coin. 

BONK’s jaw-dropping performance mirrors Solana’s 2023 Q4 boom, which has seen SOL rally from $20 in September 2023 to over $75 in December 2023. The Solana ecosystem boom has also awakened airdrops within the community. 

BONK price chart
Source: Coingecko

Read Also: 348M Shiba Inu (SHIB) Up For Grabs in Binance $500,000 Exclusive Airdrop

BONK driving Solana Saga sales

Beyond reigniting interest in Solana-based memecoins, BONK’s superb rally has positively impacted the sales of Saga — the Solana-powered mobile phone. 

Sales of the once-struggling smartphone have recently skyrocketed as noted by Solana co-founder Raj Gokal on Thursday. According to Gokal, Saga could be sold out before 2024.

The rising sales of Saga come as individuals push to be beneficiaries of a 30 million BONK token airdrop attached to the purchase of the Solana mobile phone. At press time, the airdrop is worth $710 which is higher than the cost of Saga — $599. To this end, Solana co-founder Anatoly Yakovenko recommended the price of Saga be raised to avoid sybils. 

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