BONK, the first dog-themed cryptocurrency on Solana, was created “for the people, by the people.” It shares similarities with memecoins like Shiba Inu (SHIB) and Dogecoin (DOGE), except for the fact it is built atop the Solana network.
Launched on December 25, 2022, with 50% of its total supply airdropped to the Solana community, BONK’s debut led to a 34% rise in SOL token prices within 48 hours. Trading started on December 30, 2022, sparking significant interest in the crypto community.
The team aims to rejuvenate liquidity in Solana’s decentralised exchanges (DEXs). They envisioned BONK as a community-focused coin integrated across Solana’s dApps, offering users a chance to join an equitable ecosystem. An added incentive came in the form of the Solana phone (known as the Saga), whose owners were airdropped a significant amount of BONK. This led to a massive surge in demand for the device (and cryptocurrency) in late 2023.
Presently, BONK maintains a modest online presence, with an active Twitter account being its main digital platform.