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BONK Token Effect on Solana

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Solana dropped the Shiba Inu-themed Bonk (BONK) logo. SOL price jumps 20% after BONK. BONK gets the highest trading volume after USDC and SOL.

Crypto animals are doing their best to make the market bounce back and recover. However, there is one altcoin that is doing well in the run. SOL, the 15th largest cryptocurrency by market cap, has gained 20% in the past 24 hours and jumped nearly 40% in the past seven days.

At this writing, Solana is trading at $13.96 after gaining 17.6% in the last day.

Solana Price Increases by 20% on BONK

This price increase comes at the same time as the introduction of the new Shiba-Inu theme “Bonk” (BONK). BONK often brings airdrops to Solana NFT, Alameda’s research idea to improve the city environment. It is a well-known fact that after the collapse of Alameda and FTX, the crypto community had a great negative impact, and the Solana network was also a recipient.

However, after Solana had his first BONK flight, SOL picked up his pace, releasing meme coins like Dogecoin and Shiba Inu. In the last 24 hours, BONK has the highest trading volume after USDC and SOL. On the other hand, the top 20 members of BONK received 50% of the total amount and BONK DAO held 15% of its total.

Currently, the price of SOL is struggling to break above $15, but if SOL is successful in breaking the barrier, Solana expects to see another 20%. Meanwhile, BONK is currently trading at $0.000001793 with an increase of 86% in the last 24 hours. It is noted that the main factor driving BONK’s price increase is its acceptance into the NFT market. However, if the BONK holder decides to sell, that move will bring SOL back $10.

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