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

Must read

Former FTX executives Backpack exchange expands to 11 US states

Former FTX executives Backpack exchange expands to 11 US states Oluwapelumi Adejumo · 2 mins ago · 2 min read...

Bitcoin options worth $3.7 billion approaching expiration – Deribit

What is CryptoSlate Alpha?A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more ›Connect via Access ProtocolAccess Protocol is a...

Ethereum breaks 22-month record crossing $3000 amid positive market speculations

Ethereum’s price soared to a noteworthy milestone in the past day, briefly crossing the $3,000 mark for the first time in 22 months.During this...

Bitcoin’s climb to a yearly high triggers market shakeup

What is CryptoSlate Alpha?A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more ›Connect via Access ProtocolAccess Protocol is a...

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

Bonk (BONK) is starting 2023 with a bang after posting astronomical gains in the first few days of 2023 despite the persistent crypto bear winter.

The new meme token opened the year at $0.0000002 and surged as high as $0.000004 on January 5th, marking gains of 1,900% in less than one week. The Shiba Inu and Dogecoin rival has given up some of its gains since and is trading at $0.000002 at time of writing. Despite the correction, BONK remains up 900% in about a week.

Meanwhile, BONK’s competitors are starting the year on a sluggish note. Leading meme coin DOGE is up 1.43% over the same timeframe, from $0.07 on January 1st to $0.071 at time of writing. Ethereum-based altcoin Shiba Inu is faring better than DOGE after rising 3.75% from $0.000008 on January 1st to $0.0000083 at time of writing.

Amid Bonk’s meteorical ascent last week, the developers behind the altcoin reveal that they have torched $10 million worth of BONK tokens.

“BONK represents the best of Solana. Our community is working together across the ecosystem to make positive change for all of us.

The five trillion BONK tokens allocated to ‘The Team’ have been burned.”

Solana explorer Solscan shows that BONK’s current supply has shrunk to 94.12 trillion tokens.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/ngupakarti

More articles

Latest article

Former FTX executives Backpack exchange expands to 11 US states

Former FTX executives Backpack exchange expands to 11 US states Oluwapelumi Adejumo · 2 mins ago · 2 min read...

Bitcoin options worth $3.7 billion approaching expiration – Deribit

What is CryptoSlate Alpha?A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more ›Connect via Access ProtocolAccess Protocol is a...

Ethereum breaks 22-month record crossing $3000 amid positive market speculations

Ethereum’s price soared to a noteworthy milestone in the past day, briefly crossing the $3,000 mark for the first time in 22 months.During this...

Bitcoin’s climb to a yearly high triggers market shakeup

What is CryptoSlate Alpha?A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more ›Connect via Access ProtocolAccess Protocol is a...

Bitcoin exchange balance dips to lowest since 2018 as market shifts to HODLing

Bitcoin exchange balance dips to lowest since 2018 as market shifts to HODLing Andjela Radmilac · 3 hours ago · ...