Bonk Price Prediction as Latest Memecoin BONK Blasts Up 2000% in 5 Days – Is This the Next Shiba Inu?
The price of Solana-based meme token Bonk (BONK) has risen by 90% in the past 24 hours, with the new Shiba Inu-styled altcoin launching at the end of December following a large-scale airdrop. The cryptocurrency is also up by a whopping 2,200% since going live, creating a serious expectation that it's the next big thing in dog-related meme tokens.
Of course, the problem with most meme coins is that, beyond an association with unpredictable pumps, they don't have much in the way of fundamentals. Bonk hopes to counteract this to some extent by eventually launching its own DAO and linking with various parts of the Solana ecosystem, yet time will tell if it can become more than just another flash in the pan.
BONK has seen a steady increase in volume and price since becoming tradeable at the end of last month. This being crypto, and BONK being a meme coin, it's extremely hard to say when the momentum may shift downwards.
That said, it's been less than a week since BONK entered the market, so it may have at least a few days to run before early holders begin dumping their bags en masse on newcomers.
If nothing else, BONK's launch underlines the value of being involved in a network's ecosystem. That's because 50% of its total maximum supply (of 100 trillion BONK) was aidropped to various developers, creators and NFT holders within the Solana community.
As the pie chart above illustrates, 5% of BONK's total supply was aidropped to Solana developers, 20% to holders of Solana-based NFT collections, 10% to artists and collectors, and 15% to users of Solana-based DEX OpenBook. The rest will go to a mmix of early contributors (who have to vest their BONK for three years), exchange liquidity, marketing and team development.
Other than that,
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