The new Solana-based dog meme token Bonk (BONK) is the talk of the town at the moment as it burns 500 billion coins causing its price to surge.
Nearly half of BONK’s total token supply, worth $1.2 million at the current pricing, has been burned off. Additionally, the token is demolishing other coins in terms of market capitalization.
Currently, BONK is traded on MEXC Global, Huobi, Bitget and Bybit. The dog coin similar to Dogecoin and Shiba Inu has experienced double-digit rises basically every day for the past five days, helping to raise the price of Solana in the process.
Also Read: Solana Ecosystem Plummets 98% from $10.17 Billion after FTX Crash
The top 20 holders of BONK account for nearly 50% of the total currency supply, according to Dune Dashboard, causing the community to be wary of a pump-and-dump scheme occurrence in the future.
At the time of writing, BONK is trading at $0.00000405, rising by nearly 122% over the past 24 hours.
