#BONK #BTCRally What's going on with Bonk? DOGE and SHIBA competitor in Solana enters the top 100

The price of the meme cryptocurrency has multiplied by more than 100 so far this year.

A little-known dog is making a splash in the cryptocurrency neighborhood. This is Bonk (BONK), a memecoin that lives on the Solana network and was launched in early 2023.

At the time of this publication, each unit of BONK is trading at $0.00001289. Its price has risen 29% in the last 24 hours, 226% in the last week, 1,090% in the last month and more than 11,000% since January.

Since the end of November, BONK's rise has accelerated and its price graph is almost vertical. This has been influenced by the fact that the token was listed on the Kucoin exchange.

The BONK token is integrated into several decentralized finance (DeFi) protocols on the Solana network. But, in itself, they have no use – at least, for now – other than being a “community” digital asset.

Regarding the “tokenomics” of this coin, which occupies 74th place by market capitalization, it can be mentioned that it has a maximum supply determined at 100,000,000,000,000 units, of which 60% is currently in circulation. It should be noted that Due to its low market capitalization, it is a highly volatile digital asset and its trading and investment could entail financial losses if adequate risk management is not carried out. The Cryptopedia (educational section of CriptoNoticias) dedicates an article to this topic