The reasons for that were largely macroeconomic-based where the inflation numbers were high, causing central banks to raise interest rates. Similar to Solana and most cryptocurrencies, Bonk traded mostly sideways throughout 2023.

Bonk has a market cap of $1.69 billion from 60.8 trillion tokens in circulating supply.

The lowest price since the airdrop was $0.00000009197, it was reached just a few days after the airdrop.

Bonk was airdropped in December 2022 when the price was $0.0000001545.

This marks a gain of 37,727% from the bottom in December 2022, beating many other Solana and Ethereum projects. Since its inception, Bonk reached an all-time high in December 2023 at $0.00003479 following a Coinbase Bonk listing and a Binance Bonk listing, making it the third largest meme coin behind Dogecoin and Shiba Inu. Those who bought the bottom and sold the top profited a massive 4,315%.Īfter that, Bonk slowly faded away and traded mostly sideways until November 2023 when Solana and most of its projects started to rally after the Solana Breakpoint conference.

The positive momentum brought to Solana as well as the liquidation of large short positions caused a massive rally that saw Bonk peak at $0.000004061 five months after the airdrop. This started mostly as a joke, but it caused a massive rally not only for the BONK token itself but also for Solana (SOL) and a lot of its projects. During the peak bear sentiment on Solana following the FTX collapse when a lot of investors thought Solana would fail along with its projects, a team of 22 individuals airdropped a new token to eligible Solana wallets on Christmas 2022.

Bonk is the most popular meme coin on Solana and the largest meme coin on that blockchain in terms of market cap.

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