Many laughed when DOGE launched as a meme coin in 2023. Of course, what’s there not to laugh about — it’s a meme. Well, the coin now has a market cap of about $13 billion.
More coins have followed in the footsteps of DOGE, and one you should know about is the meme coin BONK. The coin was introduced by Solana (the same name behind SOL) with a funny dog meme. It’s almost as if they were copying DOGE. They were, actually. The official website calls the meme coin “The Dog Coin of the People.”
BONK has gone on to stamp its name in the list of authentic digital coins. It’s now a meme coin crypto players can’t overlook on the field. Why? The coin got to 69th position on the CoinGecko market ranking.
You may think the 69th is not something to brag about. Well, with more than 23 thousand coins on CoinMarketCap, BONK begs to disagree—the 69th position is a big deal. Crypto enthusiasts who listened to the gospel to hold BONK earlier are also celebrating the win. Here’s a word from Ashley Dcan on X:
Did the guys and girls at CoinGecko wake up one morning and say, “Oh, let’s do something nice for Solana’s BONK and give it the 69th position on our list.” Of course not. No way! You may want to give BONK a round of applause, as the meme coin earned it.
BONK currently has a market cap above $1 billion. At the moment, BONK surpasses Pepe as the third-largest meme coin by market cap. December 2023 appears to be the meme coin’s best season yet. We’re sure BONK will cross over to the new year feeling like Vince McMahon:
On the 15th of December, the coin hit its all-time high with a $0.00003416 price. If you’ve had your eyes on it for a while, you’ll know there were signals building up to the big day. The coin’s price has been climbing a staircase for several weeks. Then, all of a sudden, within 24 hours from the 14th of December, it wore a red cape and flew—increasing by over 64% in price.
While giving credit, it’s important not to forget Coinbase and Binance. BONK’s popularity skyrocketed after the two giant crypto exchanges listed the meme coin on their marketplaces. That was the catalyst for the current market cap boom.
Related: Dog Days of Crypto: Solana Memecoin Turns $226K into $1.69M in 5 Days
Sure, the price of BONK has dipped a bit since then—meme coins can be funny— and it still has many zeros in front ($0.00002). But you’ll agree that the flying market cap is a good sign.
Solana’s Top Meme Coin Emerges Amid Ecosystem Downturn, Following SOL’s Dive from $260 to $8
Imagine having SOL worth $260 in your wallet in November 2021. Then, about a year later, in December 2022, it’s worth $8. It sounds like a bad situation, no doubt. You’ll need a honey badger’s courage to continue holding for an extra year—till 2023.
Well, not many can care like the honey badger. Solana’s dive from $260 to $8 saw many crypto investors jump ship. Thankfully, many are returning thanks to the BONK inu meme coin. You see, when the SOL price sat side-by-side with the market bear, Solana made a smart decision to release a meme coin, BONK — just like DOGE.
The coin was airdropped to community members on Christmas Day 2022, and the BONK price has reached new heights since then. Those who held onto the meme coin when it was released in 2022 will be smiling to the bank at the end of the year. If they had two turkeys for Christmas dinner last year, they can buy 10 or 20 even this year.
LamportDAO developers can testify to that. In December 2022, they received billions of BONK coins from the Solana Airdrop. It was only worth $300 at the time. Now, it’s up to $500,000 — big is the word. Everyone in a similar position can thank CoinBase and Binance for listing the memecoin in their marketplace. The events saw BONK reach an all-time high of $0.00003416 on 15th December.
BOOM! BONK creates a Solana Smartphone Frenzy
Ever seen a blockchain smartphone? Ever heard of one even? Many people say the blockchain is complex (and they’re right, by the way). So the idea of using the technology in a mobile device may require Einstein to explain. But guess what? Solana Labs launched a blockchain-powered smartphone in April 2023, and it’s selling out — in the United States and Europe. The guys at Solana Labs must be swimming in cash.
The smartphone is called Saga. Perhaps the developers would have come up with a better name, something as nice as the iPhone or Samsung. However, Solana Labs doesn’t need a nice name to sell their new smartphone. They came up with a better idea — the Saga phone comes with an airdrop of BONK meme coins with a valid value greater than the mobile device itself.
Everyone likes money, of course. So, many are rushing the Saga smartphone like candy in a shop. It’s possible that Solana may end the BONK airdrop at any time, so no one wants to miss out. As the Solana smartphone demand surges, the device has now sold out in the US. It’s almost running out in Europe.
However, there’s good and bad to every story. Some experts in the tech industry can’t share a table with the developers at Solana Labs, or else it’ll result in a WWE match:
Word from the tech community is that there’s nothing good about the phone. Marques Brownlee (you must know him if you’ve ever checked YouTube before buying an iPhone or Samsung) said the Solana Saga phone should be in the bin. Well, those weren’t his exact words.
Some strong words there, right? “No amount of BONK can save this phone,” “It’s a shame,” “Meaningless.” The guys at Solana didn’t appear to be offended, though. Here was their reply:
BONK holders have already made Solana phone sales skyrocket with the device selling out. The question now is, will Solana Labs continue production? Or will they call it quits? We think the latter is the case, but the guys at the lab will have to carry out some major improvements.
Related: Memecoins: A Guide to Choosing the Right One
FAQ
1. What is BONK?
BONK is a meme coin launched by Solana and inspired by internet jokes. It was released as a free airdrop to the Solana Community on 25th December 2022. The coin has a Shina Inu dog as its logo, and it was inspired by Dogecoin (DOGE).
2. What is Saga smartphone?
The Saga smartphone is a new mobile device launched by Solana. It comes with Solana’s blockchain features to complement advanced smartphone technology. The Saga smartphone was made available for sale by Solana Labs in April 2023.
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