Solana-based Bonk Inu NFTs have 10x their base price after the mint phase. Meme coin projects continue to make headlines in the first weeks of the new year.
Meme coin projects are on the agenda of the cryptocurrency market again
Meme coins have been a part of crypto culture for years, but 2020 and 2021 have seen them rise to a whole new level. So much so that it got to a point where Dogecoin (DOGE) and Shiba Inu (SHIB) are frequent members of the top 10 clubs. The bear market of 2022 has severely hit most meme coins, but Bonk Inu is getting this space moving again.
Bonk Inu (BONK) recently airdropped 50% of its supply to Solana. 20% of that went to Solana NFT collections. Others were divided into various segments such as Solana collectors and developers. However, BONK has burned a significant number of tokens over the past few days. The recently launched Bonk Inu NFTs, on the other hand, continue to sell out following the 40x rally in the BONK token price.
Prices for Bonkz NFTs have increased 10x since their launch on Tuesday, attracting over $900,000 in trading volume after all 15,000 collectors’ items were sold. According to data from Solana NFT marketplace Magic Eden, over 6,165 individual wallets currently hold items from this collection. The collectibles are based on the popular Shiba Inu-themed Solana project Bonk Inu, which was not directly involved in Bonkz’s founding.
BONK Inu sold out NFTs
cryptocoin.com As we reported, the BONK Inu founders said on Tuesday that the collectibles are purely art-based and there is no immediate benefit plan. The mint price of the collection was $25 worth of BONK and the secondary trade was done with Solana (SOL). Currently, each NFT is priced at over $280. All BONKs used to purchase these NFTs were burned. In other words, BONK as a meme coin implements a disinflationary mechanism. So the $250,000 supply of BONK (165 billion units) was removed from circulation on Tuesday.
BONK is currently listed on Poloniex, Bitmart, Hotbit, CoinEX, Huobi, Gate.io and Bitget, some of the largest centralized exchanges in the market. Despite the interest around the launch of the NFT project and post-sale volatility, the BONK token itself has dropped around 4% on CoinGecko data, after several previous ups and downs in the last 24 hours. Meme coin is currently trading around $0.000001549. When the market was first launched, it gained over 2,500% in a short time.
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