Shiba Inu Memecoin, BONK Revives Solana Ecosystem With Massive Surge In Price
In the last 24 hours, the ShibaInu memecoin, BONK on the Solana network has increased by over 100%, generating nearly 1000% profit for holders. With a large trading volume on the Solana Decentralized exchanges, this BONK token has revived the Solana network.
Memecoin Season Is Back
The meme coin season, which emerged in 2021 and saw prices soar, may not be done yet. The BONK token, a Shiba Inu memecoin on the Solana network, had a surge of over 100% in just 24 hours, rewarding devoted holders with returns on their investments with more than 1000%.
Just when we thought nothing positive could ever emerge from the Solana network again, the memecoin proved us wrong once more. Despite the critical bear market season, trading volume on decentralized exchanges on the Solana network has increased.
BONK, a Shiba Inu memecoin that was airdropped on December 25th, has offered traders and holders over 2000% profits in just a week, with over 100% rise in the last 24 hours.
After its launch, this coin was airdropped to the Solana community, resulting in buzz from crypto influencers in the community, which led to a jump in its price and trading volume.
Decentralized Exchanges Also Benefiting From This Surge
It is worth noting that investors who held this token were not the only ones to benefit from this rise; decentralized liquidity pools such as Orca exchange recorded over $19 million in trading volume from this token; with liquidity providers benefiting from this surge in volume.
Liquidity providers are investors who stake a token on a network to offer liquidity for the network in exchange for transaction fees in the form of network’s token.
According to the Orca exchange, the BONK/SOL pair garnered over $13 million worth of trading traffic, while the Coin pair exchange realized over $6 million worth of trading volume.
Despite the fact that BONK is a memecoin, it has gained widespread adoption with firms integrating it into their systems as a payment method for the purchase of various NFTs.
This boom in BONK has also resulted in increased demand for other SOL tokens, with some tokens already experiencing price increases, such as Sol Husky, which airdropped 1 million tokens and is now worth over $4000.
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