The price of BONK, a recently introduced memcoin, has been rapidly gaining momentum lately, and currently it shows no signs of slowing down. In the last 24 hours alone, it has grown by 150%, and the number of sonnet holders has exceeded 100,000.

Memcoin’s rise in popularity comes amid multiple listings on various centralized exchanges such as BKEX, Huobi, MEXC Global, Gate, Bybit, DigiFinex, and more.

But the main focus on BONK is that the young altcoin could be the savior of the Solana ecosystem, which is in trouble caused by fear, uncertainty, and doubts about its ties to the disgraced FTX crypto exchange.

After the crash of the FTX exchange, the Solana ecosystem tried to distance itself from former FTX CEO Sam Bankman-Fried, and Messari even published a detailed review of Solana and how it was affected by the December 15th crash.

But a new project called Bonk has been making headlines in recent days, skyrocketing in price and giving Solana a welcome reprieve from the problems it’s had to deal with.

What is BONK and what it can bring to the Solana ecosystem

According to the official website, BONK is the Solana community that made the Solana ecosystem great in the first place. This is the first coin featuring a Shiba Inu meme dog “for the people, from the people”.

Bonk collaborators were tired of Alameda’s toxic tokenomics and wanted to create a fun memcoin that would give everyone an equal chance,” the official website says.

Due to its popularity, memcoin is driving the use of the Solana blockchain as ctnm logs 3,300 transactions per second. The metric proves that Solana, the Ethereum killer, is not dead and is backed by an optimistic community.

With the token having an impressive burn rate and being listed by major exchanges for open trading, Bonk is now making a name for itself. Expectations for the coin-meme are very high.

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