Recently, Bonk, a cryptocurrency connected to the Shiba Inu breed and running on the Solana blockchain, has seen a sharp rise in its value, which has gone up by over 1622% since trading began on December 29, 2022.
As a result, the trading volume for this digital asset has risen by 200% in the past day, standing at more than $22 million. Its market capitalization has also increased to over 84 million dollars.
Half of the token’s supply has been airdropped to the Solana community and part of it has been given to Solana NFT collections and related artists and collectors.
In the last seven days, Bonk has been used in more than 500,000 transactions, although there is limited information about this project and no official website or whitepaper has been shared.
Despite the bankruptcy of the FTX exchange which is connected to the native Solana token $SOL, the latter has still seen a 16% price rise over the past 24 hours and is currently trading at a rate above $13.
