Bonk (BONK) Memecoin Experiences Unprecedented Growth, Skyrocketing 1622% in 7 Days

Bonk is a cryptocurrency that has seen significant growth in recent days, with its price surging over 1622% since trading began on December 29, 2022.

The popularity of Bonk, which is themed after the Shiba Inu dog breed and built on the Solana blockchain, has led to a 200% increase in its trading volume over the past day, reaching over $22 million.

Bonk has also achieved a market capitalization of over $84 million. The creators of Bonk have airdropped 50% of the token’s supply to the Solana community, with a portion of that going to Solana non-fungible token (NFT) collections and Solana-focused artists and collectors.

Bonk has been used in over 500,000 transactions in the past week, despite limited information being available about the project and no official website or whitepaper being linked.

The native Solana token, $SOL, has faced selling pressure due to its connections to the bankrupt FTX exchange, but it has still seen a 16% increase in price over the past 24 hours and is currently trading above $13.