What Happened: BONK, launched on December 25, 2022, is Solana’s first dog-inspired meme coin. It aims to serve as a “community coin” for various decentralized applications (DApps) on the Solana network.
BONK, appreciated by over 3,300% to a peak of $0.00000487 in January 2023.
At the time of writing, BONK was trading at $0.0000006757. DOGE and SHIB were up 0.25% and 0.10% respectively since Monday.
See More: A Stay At The Floating Palace From James Bond's ‘Octopussy
Why It Matters: Crypto analyst Miles Deutscher sees both great potential and potential pitfalls in BONK’s rise.
He suggests two scenarios: "SOL tops around Breakpoint, and BONK retraces even further – fitting my SOL short-term short bias. Or, 2. This is the start of a proper move, and memecoins gain steam."
Photo by Fernando Cortes on Shutterstock
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
