There is a new Solana-based memecoin on the market, that has been on a tear lately.
Here's how bullish this memecoin is.
According to data from CoinMarketCap, the price of Solana has increased by about 99% in the last month and was just inches from $70 before being sent downwards by the bears on November 19.
However, Bonk, this Solana-based memecoin has beaten the bullish potential of SOL by more than a hundred times.
BONK was launched in December 2022 on the SOlana network, during the height of SOlana's crash when FTX went down.
Just like most of the other popular memecoins we have seen, BONK is dog-themed. Much like Dogecoin (DOGE) and Shiba Inu (SHIB).
BONK started at around $0.00000001 on launch and remained stagnant ever since.
However, in late October this year, this memecoin suddenly took off and is now up by more than 1900% over the last 30 days as shown above
BONK even reached a new all-time high of $0.00000539 on November 20.
According to data from CoinGecko, BONK's market cap also surged from $1.8 million to $183.4 million in the same period, making it one of the top 10 tokens on Solana by market cap.
According to rumours and reports going around, we may even see a BONK listing sometime soon on Binance
However, while there has been no significant piece of evidence to support this claim, it is still easy to speculate that BONK may end up right up there with others like DOgecoin, Shiba Inu and PEPE.
Considering how memecoins mostly capitalize on Social media hype for their price increases, we are about to witness even more massive gains on this new Solana-based memecoin.
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