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SHIB Rival BONK Up 607% in One Week While Breaking Major Milestones

Sun, 01/08/2023 - 11:23
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Gamza Khanzadaev
Bonk Inu token's key indicators booming after BONK soared 600% in last 7 days
SHIB Rival BONK Up 607% in One Week While Breaking Major Milestones
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The year 2023 began in the best traditions of the latest bull market, when the suddenly emerged token Bonk Inu (BONK) rose by more than 600% in seven days. As the name makes clear, BONK is the counterpart to the successful Shiba Inu token, SHIB, but on Solana.

BONK to USD by CoinMarketCap

In fact, if CoinMarketCap data is to be believed, BONK appeared even before the new year, in the final week of December. In all that time, it has managed to gain almost 116,000 holders and also burned about 6% of its 100 trillion token offering.

Shiba Inu (SHIB) vs Bonk (BONK): Who Wins This Hype Battle?

There is no centralized way to burn BONK yet, and the trillions of tokens burned were sent by the project team itself to dead addresses for a variety of reasons.

SOL and BONK price action

The activity around the new token has so excited the Solana ecosystem that even the native blockchain token, SOL, has managed to climb out from below the $10 price level and soared 35.7% in the past week.

Bonk Meme Coin Loses 50% of Its Value, Is Meme Coin Done? Crypto Market Review, Jan. 6

The price of BONK has risen by 1,700% in all that time and is now holding at $0.000002 per token, with an all-time high of $0.000005. The token has already earned a listing on small and medium crypto exchanges, but is not yet presented on major exchanges.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.