Even those who follow the cryptocurrency market from a distance may notice the increasing interest in dog-themed memecoins. Memecoins such as Dogecoin (DOGE) and Shiba Inu (SHIB) have made headlines for making many people millionaires overnight. Particularly, Dogecoin, supported by Elon Musk, has rapidly risen to fame and sparked the memecoin craze. During this period, countless memecoins were launched, and one that has caught attention in recent weeks is Bonk (BONK).
Bonk operates on the Solana Blockchain and is considered the largest memecoin of this Blockchain. The goal of Bonk is to bring liquidity back to the Solana ecosystem. Developers describe Bonk as a memecoin “created by the people, for the people.”
Although Bonk’s developers remain anonymous, they have followed in the footsteps of the creator of Shiba Inu by providing some information about the origin of the memecoin. BONK coin is a Solana Program Library (SPL) token that adopts Solana Blockchain’s PoH (Proof of History) and PoS (Proof of Stake) consensus mechanisms.
The Bonk team, expressing their frustration with the toxic tokenomics created by Alameda on the Solana Blockchain, launched BONK with the goal of creating a fun memecoin that offers a fair chance to everyone. Bonk was developed to reclaim the liquidity of DEXs in the Solana ecosystem.
BONK coin can be securely bought and sold on Binance, one of the world’s largest cryptocurrency exchanges. BONK coin was listed on Binance on December 15, 2023, and can be traded in BONK/USDT, BONK/FDUSD, and BONK/TRY pairs. To purchase BONK coin, one must first register with the Binance exchange. After registration is completed, a cryptocurrency or a fiat currency such as Turkish Lira must be transferred to the Binance account wallet. Once the transfer is complete, BONK coin can be purchased in any of the three trading pairs mentioned above.