BONK Coin’s value has risen 89 fold in the last 42 days, making it a very attractive investment for long-term holders. Stock exchanges and cryptocurrency projects that have experienced a breach will generally try to find means by which the situation can be repaired, issuing airdrops often as compensation. Although there was some delay, this strategy worked well in the Solana ecosystem.
Airdrop & Surge of BONK Coin
Ground zero At the beginning of this year, in order to alleviate the damage caused by FTX’s collapse and reduce members ‘losses, BONK Coin stage agreed an airdrop. They also joined forces with numerous protocols in the Solana system, awarding BONK Coins to users, and certain NFT holders. Despite being initially regarded as irrelevant, the value of BONK Coin skyrocketed over 8900 % in just 49 days. Those who got ahold of it and kept their tokens from Solana carries made out like gangbusters.
BONK’s Influence on Solana (SOL)
BONK Coin’s success also comes with a bit of resuscitation for the Solana eco-system. Its January surge greatly raised the price of SOL Coin, helping to develop the Solana ecosystem and rewarding investors in BONK.
BONK Coins not only saved Solana from the problems brought on by FTX, it even helped increase sales of Saga’s mobile device. While BONK is still in its infancy, it has already reached an ATH on the Binance exchange. As for its future price path, perhaps it can follow the overall market trend.
Meme Coin’s Unpredictable Trajectory
As events around PEPE Coin have shown, meme coins tend to hit ATHs after listing on Binance. But Shiba Coin’s Binance ATH did not happen until months later. As a prelude to the Shiba Coin era, if market sentiment once again turns favorable in early 2024, BONK Coinsmay also continue toward becoming zero less coins.
But in the cryptocurrency market, meme coins could either rise to Pegasus heights or sink into oblivion–the risky nature of such currencies. Meme coins are the most volatile category in the cryptoverse.
Disclaimer: The article provides information, but is not investment advice. Investors should note that cryptocurrencies are very volatile and risky. They Should conduct their own due diligence.