Solana (SOL), is a network that has been very popular in the cryptocurrency market, essentially after having suffered a lot with the fall of Corretora FTX, check out our opinion about it.
Bonk Inu: Understand What is Shiba's Rival MemeCoin
01/16/2023
Bonk Inu is making waves due to its recent high and also for being a potential "Shiba Killer". The projects that are built within the Cryptocurrency universe are even funny. Meet this MemeCoin!
Bonk Inu: Understand What is Shiba's Rival MemeCoin
What is Bonk Inu?
Bonk (BONK) is the newest Cryptocurrency Meme on the market and is making waves with the promise of "destroying the Shiba Inu". Sometimes, the things that appear in this highly esteemed market are funny. For memecoin lovers, it may be another "gamble" for the long term, but does this "project" have fundamentals? Or rather: What to expect for the coming years?
According to the official website bonkcoin.com itself, this is the definition of Bonk crypto: "Bonk is the first Solana dog coin for the people, by the people with 50% of the total supply released to the Solana community. Bonk contributors were tired of the toxic 'Alameda' tokenomics and wanted to make a fun memecoin where everyone gets a fair chance".
If we can call this memecoin a "project", it is a very recent token and that there is not much information about it, but we will make an effort and bring you some interesting points about it.
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What is Shiba Inu? Does this Cryptocurrency so talked about and questioned actually have any use? In this article you will discover points about this Memecoin that you had no idea about!
Bonk Vs Shiba Inu Vs Dogecoin:
It's impossible to mention a new memecoin without first talking about the biggest and most esteemed memecoins on the market: Dogecoin and Shiba Inu. As you know, first of all, we want to make it clear that we consider both cryptocurrencies to be "shitcoins".
But it is undeniable that both Doge and Shiba have an extremely strong community and when it comes to assets that are priced according to the law of "supply and demand", this is very significant when analyzing the price of these tokens.
Dogecoin was the first memecoin to be created and if we could "guess" a memecoin that would have long-term value, it would be it; mainly due to the interest of billionaire Elon Musk for this Cryptocurrency. Who knows in the future this project could be worth a lot of money, right?
Shiba, on the other hand, came up with the idea of being the "Doge Killer" where many investors speculate that she could reach the dreamed 1 Dollar. Even if today it is impossible - if Shiba Inu reaches 1 dollar, that would be more valuable than the planet earth due to its Market Cap; even so, many enthusiasts are expecting the famous "token burning", causing the asset's price to explode upwards. This could happen given that Ethereum itself has done this in the past.
Bonk, on the other hand, came up with the idea of being an "improved Shiba". That's right my friends, an IMPROVED SHIBA. We know that Shiba was built on the Ethereum Blockchain, while Bonk was built on the Solana ecosystem - which works faster and cheaper! A good bet considering that Solana is suffering a lot in this down cycle.
What to Expect from Bonk for the Long Term?
If the future of well-founded Cryptocurrencies like Solana and Cardano is already uncertain, who will say that of a memecoin developed in a bear market. Jokes aside, right now, Dogecoin is stronger than bitcoin itself, and that is admirable in a market moment as delicate as the one we are in right now.
Most importantly, the token has a community as strong as the Doge and Shiba Inu communities. That would already be halfway done for Bonk prices to despace in the long run.
Assuming that, at the moment, Bonk's market capitalization is US$88,882,222 and the Price is US$0.000001562, nothing would surprise us if its price is multiplied by 100x in the next bull cycles. We are not recommending that you buy this project, because we didn't buy it ourselves, but if you are interested, you can buy it through Solana's Dex: Raydium.
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Lucas Lippe
The idea of freedom is fascinating and Bitcoin gives us that in many ways. Explaining ideas of a decentralized web on the Bitcoin Lovers website.