New memecoin Bonk saw a 300% price return in the first 8 days, compared to 141 days for Shiba Inu and 1,253 days for Dogecoin
New Solana-based memecoin Bonk (BONK) has seen exponential growth since its launch on December 25, 2022, quickly surpassing 300% price return in the first 8 days – more specifically, achieving a 305.8% price return on January 2, 2023. Compared to popular memecoin Shiba Inu (SHIB), 141 days were taken to exceed the same threshold, since its launch in August 2020. Bonk’s phenomenal growth is further contrasted with that of the first-ever memecoin Dogecoin (DOGE) launched in 2013, where 1,253 days lapsed before DOGE went beyond the 300% price return threshold.
Within 11 days from its launch, Bonk’s price peaked and hit an all-time high of $0.00000487 on January 5, 2023, and saw a gain of 3,649%, a 36X increase in value. BONK crossed $200 million in market capitalization that same day, peaking at a market cap of $204,964,399 before dropping to around $82 million on January 7, and subsequently sliding to $62 million.
Bonk’s launch strategy, which involved airdropping 50% of its total supply to a wide base of Solana users, drove its price spike
Bonk’s launch involved airdrops in multiple stages. First announced in a tweet on December 10, 2022 and in their one-pager, 20% of BONK’s supply was to be airdropped to holders of 40 Solana NFT collections – some notable ones include y00ts, Solana Monkey Business, and Degen Ape Academy.
Subsequently, 15% of its total supply were airdropped to early openbook traders, 10% to Solana artists and collectors and finally 5% to developers of the Solana blockchain. To sum, the airdrop made up 50% of its total supply of 100 trillion coins, resulting in a high market capitalization days upon launch and generated buzz on crypto Twitter, which further hyped up demand.
Bonk’s airdrop tactic greatly contrasts Shiba Inu’s infamous SHIB token airdrop in August 2020. SHIB’s anonymous creator, Ryoshi first locked 50% of total token supply in Uniswap to ensure liquidity, and then sent the remaining 50% of all tokens to Ethereum co-founder, Vitalik Buterin’s ERC-20 wallet. Unexpectedly, Vitalik burned 90% of the tokens received, and donated the remaining 10% to charity.
Bonk’s phenomenal growth contributed to Solana’s 63% price pump
The financial impact of FTX’s collapse extended to Solana, given that the now-defunct cryptocurrency exchange owned large sums of Solana’s native token, SOL. With multiple projects abandoning the Solana ecosystem, SOL has been on a downward trend since.
Yet, with Bonk creators setting out to flip the toxic ‘Alameda’ tokenomics narrative through the Solana-based memecoin, SOL has seen a resurgence in recent days, attributed to BONK’s phenomenal growth that coincided with a short squeeze happening in the same period. Its price has jumped 63.5%, from $9.97 on January 2 to $16.30 on January 10, 2023.
What is Bonk?
Bonk (BONK) is the first dog-themed memecoin of the Solana blockchain and described as ‘for the people, by the people.’ Created entirely for fun, Bonk has little or no real-world utility. Since its launch, the Bonk team has burned 5 trillion BONK tokens, equivalent to 5% of its total supply, allocated for team development, and has just launched 15,000 non-fungible tokens (NFTs) on Magic Eden, on Tuesday January 10, 2023.

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Mammon (MAM) is a decentralized ERC-20 meme token that combines wealth-themed humor with blockchain technology. With a total supply designed for infinite blessings, Mammon aims to create a vibrant and engaged community around the shared joy of crypto prosperity. Mammon offers utility and entertainment, fostering a unique space where users can participate in wealth accumulation while enjoying a playful and humorous ecosystem. The project is committed to transparency, community governance, and responsible engagement within the crypto space.$MAM75K NFA/DYOR Ca: 0x61280f046e11D4D9BB1aC25944Dd30516c47c5c6#MemeCoinCraze #Memepool

The price of Avalanche-based meme coins including Husky Avax and Coq Inu rose by double-digits on the newsThe Avalanche Foundation, the non-profit organization that oversees development of the Avalanche network, said that it will purchase a collection of meme coins under its "Culture Catalyst" program.In a post on Twitter, the foundation stated that it will purchase "select Avalanche-based meme coins to create a collection," as part of a bid to broaden its portfolio "to embrace a more complete spectrum of possibilities."The Foundation's selection process for its meme coin collection will be based on criteria including the number of holders, its liquidity thresholds, the maturity of the project, "principles of a fair launch," and "overall social sentiment," it added.Explaining its decision to invest in meme coins, the Avalanche Foundation claimed that they "go beyond mere utility assets," and represent "the collective spirit and shared interests of diverse crypto communities."Meme coins are a type of token that are usually—but not exclusively—based around Internet memes: jokes and images shared on social media. The original meme coin, Dogecoin, was originally created as a joke mocking the proliferation of altcoins.The price of meme coins is typically influenced by internet cultural phenomena; Dogecoin's price has waxed and waned in conjunction with billionaire fan Elon Musk's dog-themed tweets, for example. Other tokens are spun up to capitalize on newsworthy events or public figures; the Floki Inu cryptocurrency was named after Musk's pet dog.After accelerating for weeks, momentum in the Solana ecosystem has finally accomplished the improbable: Transaction volume for decentralized exchanges (DEXs) on the blockchain has finally eclipsed that of exchanges on rival Ethereum, at least in the last week. DEX volume on Solana has soared to $9.03 billion over the last seven days, according to data from Defi Llama. In that same period, decentralized exchanges on Ethereum have seen $8.836 billion worth of transactions.  That victory may end up...Earlier this year, University Grade Trading Education founder Thomas Kralow told Decrypt that meme coins have nothing to support their price once the "hype dies out" and the cultural phenomenon they're attached to has faded from view.“It’s not a very sound investment," he warned, "it’s just gambling."Following the Avalanche Foundation's announcement, the price of Avalanche-based meme coins including Husky Avax and Coq Inu rose by double-digits, per data from CoinGecko. Husky Avax surged by over 66% in the past 24 hours, while Coq Inu rose by a more modest 11%. Not all Avalanche-based meme coins benefited from the news, though, with the dog-themed Shibavax remaining static on the day.#Memepool #Avalanche's