- Some Solana developers might be especially enjoying the rise of BONK
- BONK, the latest memecoin sensation, soared more than 100% this week, registering highs
- Developers who received airdrop of USD $300 a year ago would have benefited
- The same amount of BONK was revalued this week to more than USD $800,000
Every so often a new protagonist emerges in the sphere of memecoins. Now seems to be the prime moment for BONK, a dog-themed token based on Solana that this week skyrocketed more than 100% in price, generating a sensation in the market. cryptocurrency market and lining the pockets of some early investors.
Among the success stories of some merchants, one seems to stand out as a case of a Christmas miracle. Last Christmas, shortly after the launch of BONK towards the end of 2022, a group of Solana developers received a small gift that today has been revalued in a figure worthy of changing lives.
Specifically, developers who filled out a form in the community LamportDAO received an airdrop (free distribution of tokens) to their wallets for 25 billion BONK tokens BONK, worth around USD $300 at the time, as Decrypt. However, that sum has been significantly inflated this month.
All the Solana devs that joined @LamportDAO and filled this out should have received a nice $BONK airdrop for Christmas 🎅 https://t.co/SrrFxi0qL7
— mert | helius.dev (d/acc) (@0xMert_) December 25, 2022
Those programmers who held on to their coins could be seeing returns of over 160,000% today amid BONK’s explosive price rise. The puppy token has risen 718% in the last 30 days and more than 20,000% in the year as that Solana (SOL) has also recovered from the USD $8 lows seen in late 2022.
In particular, those who did not sell their BONK gift would currently have in their wallets a sum equivalent to about USD $597,500 in BONK, at the prices of 0.00002487.CoinMarketCap dollars at the time of publication, according to data from
That figure was even higher on Friday, when the memecoin reached an all-time high of USD $0.00003419 after the listing ads on Coinbase and Binance. At that time, the bonus to the developers was valued at just over $850,000.
BONK emerges: From paying rent to buying a house
BONK debuted late last year, right in the middle of the decline of Solana, which was hit by the collapse of the cryptocurrency exchange FTX, which had a close relationship with the project and was listed as an important promoter.
Although there are numerous memecoin projects inspired by purebred dogs Shiba Inu , BONK differentiated itself by its support in Solana, positioning itself as the first meme cryptocurrency to be based on said Blockchain. Its fun approach was also seen as a respite for community members, hit in part by the fall of FTX.
SOL, the native token of Solana, is has recovered this year amid a broader bullish trend in the crypto market and as the ecosystem turns the page with the case of FTX. Over the past 12 months, SOL has rallied more than 450% toward a yearly high near $80, which while notable is still well below its all-time high of nearly $260 seen in 2021.
Shortly after BONK’s airdrop was implemented, the developers shared their gratitude, as you remember Decrypt. Some said selling it would help them pay essential bills after battling a brutal bear market, which had arguably hit Solana more than other major chains.
Mert Mumtaz, co-founder and CEO of Helius and founder of LamportDAO, told Decrypt that approximately 173 developers received the same size airdrop last Christmas.
Many probably did not imagine that this unexpected bonus would serve them a year later for much more than a rent. Those who did not sell and managed to keep the BONK tokens could buy a house today. Although the excitement and fortune may be short-lived, judging by the volatile performance of other memecoins in the past.
BONK has already seen a price correction of more than 14% since hitting highs on Friday, although it still racks up impressive gains of more than 70% for the week. With a capitalization of USD $1.5 billion, it ranks as the third largest memecoin after Dogecoin (SHIB).
