Solana Token Price Surges; DogeCoin-Copy Bonk Rides Community Hype

• Solana price was up 14% at press time.
• Bonk announcement on Airdrop to Solana community users.
• DeGods and Y00ts left Solana’s community.

The price of the new meme coin Bonk has been on the rise this week. Bonk updates on social media fueled the token’s price over the last 24 hours. The new Shiba Inu-themed meme coin Bonk in the style of Dogecoin made an announcement on Airdrop to Solana community users.

Solana experienced losses over the past few weeks. The major reasons are the sudden collapse of FTX and Solana’s popular NFT projects that left the platform recently.

Two years back, in November 2021, Solana was traded at $267.50 and was touted as the crypto market’s next top coin. But 2022 proved rather unlucky for Solana; the coin price experienced a 97% fall due to persistent bearish markets in the past few months after the sudden collapse of FTX, Terra, and Celsius Network.

And the announcement by Solana’s top NFT leading projects, DeGods and Y00ts, will migrate to Ethereum and Polygon, respectively. As the year ended, Solana was one of the worst performers in the crypto market.

But the recent Vitalik Buterin tweet and Bonk announcement on airdrop to the Solana community hiked its growth rate to 12% on Tuesday evening. The community dog coin BONK was airdropped to Solana NFT holders, DeFi members, and Solana developers.

The Solana NFT collections will receive 20% of the 50% off Bonk airdrops. Meanwhile, 10% will be credited to Solana artists and collectors. And Openbook traders will receive 15%, and developers will get 5%.

Airdrop is a marketing technique employed by startups in the digital currency space. Airdrop is involved in delivering the tokens to the wallets of crypto traders, either for free or in exchange.

On December 30, 2022, Vitalik Buterin tweeted, “Some smart people tell me there is an earnest smart developer community in Solana, and now that the awful opportunistic money people have been washed out, the chain has a bright future.”

Some smart people tell me there is an earnest smart developer community in Solana, and now that the awful opportunistic money people have been washed out, the chain has a bright future.

Hard for me to tell from outside, but I hope the community gets its fair chance to thrive🦾🦾

— vitalik.eth (@VitalikButerin) December 29, 2022

According to CoinMarketCap, Solana is currently trading at $13.47, up by 14% in the past 24 hours. The major cryptocurrencies, Bitcoin and Ethereum, are also experiencing relatively mild growth rates.

Earlier, Robert Kiyosaki, the popular author of “Rich Dad Poor Dad,” also advised investing in Solana. He said it would be a better option for investors to invest in Gold, Silver, and cryptocurrencies like Bitcoin, Ethereum, and Solana.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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