On April 1, Fool's Day, Anatoly Yakovenko, the CEO of Solana (CRYPTO: SOL), took to X in jest to announce a new cryptocurrency named “BunkerCoin.”
What Happened: Intended as a light-hearted April Fool’s joke, Yakovenko’s post mocked the cryptic language often found in the descriptions of new cryptocurrencies.
He claimed BunkerCoin would operate using “shortwave radio channels” and incorporate a mix of technical jargon such as ZkProofs, Groth16 proofs, and a “Nakamoto-style longest chain rule.”
The mock announcement was crafted to appear as a mishmash of crypto buzzwords. Nevertheless, the fiction became a reality when someone took the initiative to create BunkerCoin on the Solana blockchain.
In a surprising turn of events, the token witnessed a 4000% increase within 24 hours, reaching a market capitalization of $50,000 shortly after its launch.
See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
Why It Matters: Such coins are volatile, with many having limited liquidity and presenting considerable risk to potential investors.
In a tweet, Yakovenko said, “If you are into mainstream adoption, pivot to bunkers.” This was a nod to a similar jest from Jason Calcanis, a co-host of the All In podcast, shared on June 9, 2023.
However, the concept of sending cryptocurrency via radio is not entirely fiction. Rodolfo Novak of CoinKite successfully broadcasted a Bitcoin transaction using ham radio in 2019. Similarly, Finnish Bitcoin aficionados launched a project called Kryptoradio in 2014, transmitting blockchain data over radio waves.
Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?
Price Action: At the time of writing, the top meme crypto Dogecoin (CRYPTO: DOGE) was trading at $0.21, which is up 6.56% in the last 24 hours.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!