The hottest cryptocurrency right now is Bonk Coin (BONK), a memecoin created on the Solana blockchain that has absolutely mooned over the last month. Bonk is up over 1,000% in just the past 30 days, including a single-day gain of 35% on December 8th.
This parabolic rise has made BONK a top 100 cryptocurrency with a market capitalization exceeding $750 million.
Keypoints
- Bonk Coin (BONK) has exploded over 1,000% in the last 30 days to reach an all-time high price and become a top 100 cryptocurrency
- The overall crypto market, including major assets like Bitcoin and Ether, has seen significant gains recently
- Memecoins like Dogecoin and Shiba Inu are also experiencing major rallies, with lesser-known ones like Toshi and Myro surging too
- Solana phone owners received a BONK airdrop worth $10 initially, now worth over $1,150 due to BONK’s massive price increase
- While Solana’s price and DeFi ecosystem thrives, its Saga phone has faced disappointing sales, leading its founder to consider a lower-priced “smart wallet” product
Bonk’s stratospheric surge comes amidst a broader boom for cryptocurrencies as a whole. Major assets like Bitcoin and Ether have posted strong gains in 2023 so far, helping drive enthusiasm and speculation around alternative crypto assets. And memecoins seem to be benefiting most from this hype.
While Dogecoin and Shiba Inu have posted double-digit percentage returns, even more obscure memecoins are going parabolic. Both Toshi and Myro have recorded triple-digit percentage gains over the past week. But none have come close to Bonk Inu’s four-figure returns over the past month.
The soaring price of BONK means big returns for some lucky Solana ecosystem participants. Back in April, Solana launched its Saga smartphone with an airdrop of $10 worth of BONK tokens. With BONK’s price now 1100X higher, those tokens are worth over $11,500.
The Saga phone was meant to showcase Solana’s strengths in web3 mobile integration. But sales have disappointed despite Solana itself flourishing over the past year. SOL’s price has gained over 400% since January, now exceeding $70 as excitement builds around Solana’s leading DeFi and NFT projects.
But Solana founder Anatoly Yakovenko recently admitted the Saga phone has missed expectations, forcing the team to consider cheaper follow-on products like a “smart wallet.” Yakovenko acknowledged improvements in web3 functionality on normal smartphones has decreased the appeal of a specialized device.
While Solana continues reaching new heights, the dream of a mainstream web3 phone remains unfulfilled. But for those holding onto their BONK airdrops, the opportunity has been life-changing already. Over a thousand percent returns are almost unheard of, even among the wildest memecoin speculations.
And with the broader cryptocurrency market still booming, more surprises could be in store from both Solana and the memecoin world as hype and risk appetite show no signs of abating.
#Bonkers #Bonk #Memecoin #Turned #11.5K #Month
