Meme coins have emerged as an integral part of the crypto ecosystem. Even though it all started with the launch of Dogecoin [DOGE] several other assets inspired by it have been taking over the market. Shiba Inu [SHIB] for instance witnessed parabolic growth since its launch. However, a new meme crypto seems to be dominating the crypto space.
Earlier today, social intelligence tracker, Lunar Crush shared a poll asking the community to guess the meme coin with the highest number of social engagements. As expected the Shiba Inu Army veered in and cast their votes. Shiba Inu garnered 61.8 percent votes while the others ranged from 12-13 percent.
The Shib Army was wrong. Solana’s brand new meme crypto, BONK took over social media. Despite being fairly new to the market, the asset stood at par with Bitcoin [BTC], Ethereum [ETH], Solana [SOL] as well as Uniswap [UNI].
As seen in the chart, BONK took over the fifth position in terms of top coins by social mentions. Shiba Inu, on the other hand, stood last in tenth place.
Here’s how Solana’s BONK has been faring
BONK, with a four-digit surge following its launch, became the talk of the crypto town. Sadly this notion did not persist. After surging to a high of $0.000004922 last week, BONK witnessed a massive plummet. The asset currently trades 68 percent below its all-time high. At press time, BONK was trading for $0.00000156 with a 2.56 percent daily rise.
Despite this plummet in its price, an NFT collection inspired by BONK sold out in no time. In only a few hours, all 15,000 of the tokenized profile images [PFPs] for BONKz, a Solana NFT collection co-created by the creators behind the BONK token, were sold out on the Magic Eden marketplace.
The NFTs were sold for 16.25 million BONK each, or about $26. Yet, on the secondary market, they are reportedly fetching a higher price. At present, 17 SOL, or around $280, is the floor price on Magic Eden. According to SOL measurements, the initiative has already generated trading of around $913,000.