Over the last week, the cryptocurrency community has been discussing a new meme token called bonk inu BONK.
,” Bonk is “the first Solana dog coin for the people, by the people with 50% of the total supply airdropped to the Solana community.”dealing with negativity
stemming from its former relationships with Sam Bankman-Fried, Alameda Research, and FTX. “The Bonk contributors were tired of toxic ‘Alameda’ tokenomics and wanted to make a fun memecoin where everyone gets a fair shot,” Bonk’s one pager further explains. The 50% of BONK distribution was split into fractions and 20% went to Solana-based non-fungible token collectors. 15% was distributed to early openbook traders, 10% to Solana artists and collectors, and 5% to Solana developers. BONK started to see real-world value on Dec. 29, 2022, when it was trading for $0.000000086142 per token. By Jan. 5, 2023, it jumped to an all-time high at $0.00000487 per BONK. But 24 hours later, on Jan. 6, BONK was down 67.9% since the token’s ATH.
The crypto asset’s market capitalization reached more than $204 million down to the Jan. 6 market valuation of around $63 million. While BONK has a circulating supply today of around 41.5 trillion, it once was around 56.02 trillion according to anCoincarp.com data recorded on Jan. 6, 2023.
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