BONK Meme Coin Sees Wild Price Fluctuations and Massive Holder Concentration

After the all-time cryptocurrency terms highs successful 2021, suffering done the Luna implosion of 2022 and watching countless crypto businesses spell belly up, we’ve got a caller entrant to the meme coin country that launched connected the Solana network. The crypto plus bonk inu (BONK) has a circulating token proviso of astir 41.5 trillion and it has managed to stitchery a marketplace capitalization of astir $63 million.

BONK Sees Market Cap Soar to $204 Million Before Plummeting to $63 Million successful 24 Hours

The cryptocurrency assemblage has been discussing a caller meme token called bonk inu (BONK), a dogecoin (DOGE) and shiba inu (SHIB) wannabe that is present the sixth-largest meme coin plus today. According to the BONK improvement squad and its “one pager,” Bonk is “the archetypal Solana canine coin for the people, by the radical with 50% of the full proviso airdropped to the Solana community.”

The airdrop boosted the terms of solana (SOL) successful caller times aft the task has been dealing with negativity stemming from its erstwhile relationships with Sam Bankman-Fried, Alameda Research, and FTX. “The Bonk contributors were bushed of toxic ‘Alameda’ tokenomics and wanted to marque a amusive memecoin wherever everyone gets a just shot,” Bonk’s 1 pager further explains.

The 50% of BONK organisation was divided into fractions and 20% went to Solana-based non-fungible token (NFT) collectors. 15% was distributed to aboriginal openbook traders, 10% to Solana artists and collectors, and 5% to Solana developers. BONK started to spot real-world worth connected Dec. 29, 2022, erstwhile it was trading for $0.000000086142 per token. By Jan. 5, 2023, it jumped to an all-time precocious (ATH) astatine $0.00000487 per BONK. But 24 hours later, connected Jan. 6, BONK was down 67.9% since the token’s ATH.

The crypto asset’s marketplace capitalization reached much than $204 cardinal down to the Jan. 6 marketplace valuation of astir $63 million. While BONK has a circulating proviso contiguous of astir 41.5 trillion, it erstwhile was astir 56.02 trillion according to an archive.org snapshot. According to the BONK team, overmuch similar shiba inu (SHIB), BONK tokens are burned to make scarcity.

On Jan. 5, the BONK squad said 5 trillion of the meme tokens were destroyed. Furthermore, determination are 110,017 BONK holders and coincarp.com data indicates that the apical 10 holders power 36.81% of the supply. 20 BONK holders bid 46.31% of the proviso and 58.32% of BONK is held by 100 of the richest bonk inu addresses.

What bash you deliberation astir the Solana meme coin called BONK? Let america cognize your thoughts astir this taxable successful the comments conception below.

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