Posted 12/25/2023, 11:15:14 AM
Solana Meme Coin BONK Skyrockets 9,000% to $1B Valuation, Spurring Demand for Free Token Airdrops
- Solana's meme coin BONK rose 9000% in 2022 to reach a $1.17 billion market cap, becoming a top dog-themed crypto behind DOGE and SHIB
- BONK rallied after airdrops to Solana developers and support from major exchanges like Coinbase and Binance
- Demand for the Solana Saga phone grew as it included free BONK tokens, sending its resale value on eBay up to $5,000
- Other Solana ecosystem coins like Helium and Dogwifhat also saw triple-digit percentage gains amid the BONK hype
- Analysts warn of a potential 50% BONK price correction in the next few weeks despite the recent rally