The crypto winter wasn’t fun for the Solana system, but today, it seems like the ecosystem is getting help from an unlikely hero
BonkINU is the very first Solana dog meme coin that has been purposefully designed to support the Solana community.
But what is this meme coin, how does it work, and can the BONK cryptocurrency live up to its promises?
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BonkINU: What is Bonk Coin?
In the wake of the chilly 2022 winter and Solana’s unfortunate association with FTX, the system has been struggling, and BONK seems geared to help out as much as possible.
Created back in December of 2022, the BonkINU (BONK) token has been created specifically for the Solana community.
BONK is another dog-themed meme-coin, like Doge or SHIB. But there’s a little bit more going on with the BONK token than you might first imagine.
BONK has a strong focus on community development, really focusing on creating space for DEX and DeFi growth.
Created by DexLab and released with very little hype about the coin’s launch. But after a fairly successful launch, many DeFi traders and NFT enthusiasts have found the token to their liking.
BonkINU: Bonk Coin Key Takeaways
The main things to know about BonkINU are:
- BONK aims to be the primary coin of the Solana Network.
- BONK is geared to encourage DeFi and, NFT trading
- BONK is a social coin, with a strong emphasis on the community through its BonkDAO
Bonk Coin Price Prediction
Sadly, nobody has a crystal ball that allows them to accurately predict the future of a coin, and if they do, they’re not sharing. We can, however, make a few educated guesses when it comes to BONK price Solana predictions.
BonkINU was released with initial success and has found a niche of traders in the Solana system. However, the Solana system itself might be a reason for concern.
The crypto winter wasn’t fun for anyone, but it was especially not fun for systems so closely associated with FTX. Solana may have lost as much as $50 billion in value after the crypto winter, and since then other projects like y00ts and DeGods have left the platform.
While BONK Inu price points are performing well in adverse conditions, its price is always going to be tethered to a platform that is struggling, and that could be a reason for concern in the future.
How and Where to Buy Bonk Coin
People can have a lot of questions about BONK Coins, like “where can I buy BONK coin” and “BONK coin how to buy?”
Thankfully, BonkINU is found in the Solana Ecosystem, so that means you have plenty of options when it comes to ways to buy BONK.
Let’s go through one way to buy a BONK step-by-step.
Buy Bonk Coin Step 1.
To start, find your way over to CoinMarketCap’s official BONK page, found here.
In the lower left-hand side of the screen, you see the option for “Markets.”
Buy Bonk Coin Step 2.
Once you’ve selected “Markets,” CoinMarketCap will generate a list of all of the currency exchanges that are trading BONK.
It will look something like this:
Each addition to this list is a trading pair that is available for BONK and the exchange that it can be found on.
Find a trading pair on an exchange that suits you and click on that option.
This will direct you to your desired exchange.
Buy Bonk Coin Step 3.
While some of the details may vary from exchange to exchange, they should look broadly like this.
Say, for example, you’ve chosen ByBit BONK/USDT trading pair, and you’ll be directed to the exchange’s trading page. Which will show you handy information about the $BONK price and other valuable trading data.
It will look something like this:
This page is where you will be able to actually trade BONK.
To do so on ByBit (and most other exchanges), you will be required to sign up or register with the exchange.
Most exchanges will require you to provide some information about yourself, pass KYC authentication, and link your crypto wallet.
Many crypto wallets are Solana ecosystem enabled, so finding a BONK wallet shouldn’t be much trouble.
But if you’re looking for a fantastic wallet option, you might want to check out our very own CryptoWallet.com, which offers a fantastic variety of crypto and some great security features. Check it out here.
Buy Bonk Coin Step 4.
Once you register to trade with the exchange, simply send some crypto or fiat, place your market order, and trade!
CryptoWallet.com has a great range of cryptos available for you to buy, sell, and trade on its very own exchange and will list thousands of cryptos like BONK very soon.
If you are interested in an exchange paired with a Crypto Card that allows you to spend crypto virtually anywhere you might check out our Whitelist found here.
Bonk Price: What to Consider
As you can see from the above BONK Inu chart, BONK opened well, cooled off, and then stabilized somewhat.
At the time of writing, the price of $BONK is sitting around US$0.0000007982.
It opened at a price of $0.0000001095 and then went on to have a dramatic rise day-on-day reaching an all-time high of $0.00000487, recorded on January 4, 2023.
Since then, the token has cooled off in value but still retains some of its competitiveness. In light of its context with Solana, FTX, and various NFT projects leaving the system, this chart is impressive for a memecoin.
BONK crypto price prediction isn’t an exact science and will likely be inaccurate at the best of times. Coincodex has a prediction that BONK could go as far as $0.00000810 in 2024, though this is only an estimation.
Is Bonk Coin a Good Investment?
Crypto is a highly volatile asset and therefore should only make up a small percentage of your overall portfolio, somewhere around 5%. $BONK token, on top of being a volatile crypto, is also a meme coin, meaning that a large portion of its value is driven by spontaneous popularity, random chance, and celebrity endorsement.
This means that BONK should only make up a very small part of the cryptocurrency, which makes up a small part of your overall investment portfolio.
When it comes to crypto, you should never invest more than you can afford to lose.
How to Spend Crypto Like Bonk Coin
CryptoWallet.com has a staggering amount of tokens for you to buy, sell, and trade, over 800+ and with thousands more like BONK scheduled.
CryptoWallet.com combines a handy exchange with competitive rates with its very own CW Card, which allows you to spend virtually any crypto instantly at the point of sale.
If you’d like to know more about the CW Card, launching in 20023, and how to spend tokens like BONK, check out the Whitelist here for more info, and maybe even get involved with our exciting referral program for some extra rewards.
We’ve covered the obvious questions about BONK, like “BONK coin where to buy?” and “BONK crypto, where to buy?”
Let’s go through some of the more frequently asked questions when it comes to BonkINU on the Solana Network.
How Many Bonk Coins Are Lost?
BonkINU has around 42.97 trillion tokens in circulation at the time of writing.
Through a system of scheduled token burns and transaction fees, Bonk has managed to lower its overall token supply down to around 93.8 trillion. During the crypto winter and the FTX crash, BONK wisely burned up to around 5 trillion tokens to stabilize the BONK token price and increase BONK value.
How Many Bonk Coins Are Lost?
At the time of writing, BonkInu has around 42 trillion tokens left, with an overall maximum supply of 93.8 trillion.
This is down from the original amount of coins, which was about 100 trillion.