Solana-Based mostly Meme Coin Massively Outperforms Shiba Inu and Dogecoin in a Week Amid 5,000,000,000,000 Token Burn

A brand new meme coin based mostly on the Solana (SOL) blockchain is immensely outpacing its established rivals Shiba Inu (SHIB) and Dogecoin (DOGE) to open the yr.

Bonk (BONK) is beginning 2023 with a bang after posting astronomical positive factors within the first few days of 2023 regardless of the persistent crypto bear winter.

The brand new meme token opened the yr at $0.0000002 and surged as excessive as $0.000004 on January fifth, marking positive factors of 1,900% in lower than one week. The Shiba Inu and Dogecoin rival has given up a few of its positive factors since and is buying and selling at $0.000002 at time of writing. Regardless of the correction, BONK stays up 900% in a couple of week.

In the meantime, BONK’s rivals are beginning the yr on a sluggish observe. Main meme coin DOGE is up 1.43% over the identical timeframe, from $0.07 on January 1st to $0.071 at time of writing. Ethereum-based altcoin Shiba Inu is faring higher than DOGE after rising 3.75% from $0.000008 on January 1st to $0.0000083 at time of writing.

Amid Bonk’s meteorical ascent final week, the builders behind the altcoin reveal that they’ve torched $10 million value of BONK tokens.

“BONK represents the most effective of Solana. Our neighborhood is working collectively throughout the ecosystem to make constructive change for all of us.

The 5 trillion BONK tokens allotted to ‘The Crew’ have been burned.”

Solana explorer Solscan reveals that BONK’s present provide has shrunk to 94.12 trillion tokens.

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