The price of Solana has been skyrocketing, whereas the rest of the market is quiet. Will the new dog coin, Bonk, save the ecosystem in 2023?
Memecoins led the bull rally in 2021, with the likes of Dogecoin and Shiba Inu making new highs. The market is yet again witnessing a new memecoin gaining popularity in the initial days of 2023.
The first native Solana dog coin has sparked the community’s interest in the ecosystem. While the overall market is trading flat, the price of Solana has spiked by over 63% within a week from a low of around $8.
What is Bonk?
Bonk has taken the crypto market by storm with its airdrop. 50% of the token supply is airdropped to the Solana community consisting of individual NFT holders, Openbook traders, Solana artists, and Solana developers, according to the official website.