Savior Of Solana, Bonk Suddenly Dumps By 54%, Things Are Looking Dangerous

The running week was literally a rollercoaster ride for the newly introduced meme coin, Bonk (BONK). The value of the token witnessed a great surge and its value was extremely attractive for the entire crypto-verse.

Many investors participated in the trades for the BONK token as they were looking at huge profits. It was for the first time that a meme coin had been launched through the Solana blockchain.

As a highly attractive and gaining token was launched through the Solana blockchain, the network was also benefiting from that.


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The value of the SOL token was also moving in the upward direction. It was witnessing a great rally in its trading price since early January.

Due to the entire development involving the BONK token, it was considered the savior of the Solana blockchain.

Developments Involving the Memecoin

The newly introduced meme coin had been doing well in cryptocurrency. Its attraction and potential earned it the title of being one of the top 200 cryptocurrencies in a matter of days.

However, things have turned out to be quite promising for the asset. The situation was considered quite promising for the asset as well as the investors.

Situation Turned Unfortunate

However, the situation turned unfortunate all of a sudden and things went haywire for the asset. The meme coin ended up experiencing a major dump that resulted in moving its capitalization to the bearish side.

The investors started dumping the asset and that cost tremendously to the cryptocurrency asset. The value of the token ended up taking a major fall and things have not been doing well since then.

According to the analytical firms, it is the whales that have started dumping the BONK tokens and they are doing as they please.

Even the whales of the SOL tokens have cashed out their holdings in the tokens. This has caused the trading price of SOL and the BONK tokens to take a major fall in the past 24-hours.

The report shows that the trading price of the BONK tokens was down 54% in the past 24-hours. As a result, the BONK token was kicked out of the list of the top 200 tokens by market capitalization.


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At the time of writing, the trading price of the BONK token is $0.00000182 and the information has been shared by CoinGecko.

Even after facing a major downtrend, the trading price of BONK is still profitable for those who had invested early in the token.

The report shows that the price of the BONK token is still 1913.3% higher than its initial price. Surprisingly, the token has experienced a huge surge in a matter of a week.

Developers Set 5 Trillion BONK Aflame

It was revealed just recently that 5 trillion $BONK tokens had been allocated to the developers. Following the dump, they announced that they have burned all the tokens.

Ever since the Solana blockchain had come into being, the only best thing that happened to the network was the BONK token. It is the best product that the network has managed to offer in recent years.

This statement was made by the officials at the Solana network right after the whales started to dump the BONK tokens for huge profits.

One of the whales going by the user Twitter handles “mfckr.eth” posted his profits on the Twitter platform. He revealed that he had reportedly invested $330 and in return, he made $700,000.

Then there were those who had purchased more than 1 billion BONK tokens for a single dollar. These users are the reason that the trading price of the token has plummeted by more than 50%.


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Then there are the most affluent wallets counted among the top 10 that are responsible for holding 50% of the total supply of the BONK tokens.


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