The rise of Solanas Memecoin BONK: Where to buy or how to earn?

Table of Contents

Join our community

Estimated reading time: 0 minutes

The rise of Solanas Memecoin BONK: Where to buy or how to earn?

BONK is a new memecoin that recently appeared on the Solana blockchain and saw a significant increase in price (x100) in the first few days of the new year. Currently, it is unclear what specific features BONK has, but some people compare it to the popular Shiba Inu coin. In this article, we will discuss where to buy BONK and what the hype is all about….

What is BONK? 

BONK is a meme cryptocurrency created by the Solana community, with 50% of the total supply distributed to the community via an airdrop.

The creators of BONK, who are anonymous, wanted to create a fun and fair memecoin and move away from the toxic “Alameda” tokenomics that many coins on the Solana blockchain feature. It is still unclear what specific features or characteristics BONK has or exactly how it will be used.

It proudly carries the slogan “for the people, by the people,” as coined by its developers. Bonk is a Solana Program Library (SPL) token, which means it operates on Solana’s blockchain and utilizes the chain’s proof of history consensus mechanisms.

What Is the Story Behind Bonk?

The development team behind Bonk expressed their discontent with the negative Alameda-linked tokenomics in the Solana ecosystem and decided to create a humorous meme coin aimed at providing equal opportunities for success.

The coin’s inception was partly to revitalize the decentralized exchange (DEX) liquidity within the Solana ecosystem, which had taken a hit in the weeks leading up to Bonk’s release. The story behind the meme ‘bonk’ can be found here.

How Has Bonk Gained Such a Significant Amount of Hype?

The white paper outlined several integrations, including an innovative airdrop distribution system designed to benefit Solana users and builders. In a bold move, 50% of Bonk’s total supply was airdropped to diverse stakeholders within the Solana ecosystem, including NFT artists and developers, effectively increasing the network’s liquidity.

Following the airdrop, Orca, a decentralized exchange on Solana, reported a trading volume exceeding $2 million. In January 2023, liquidity providers for the Bonk-USDC pair on Orca saw up to 1,000% APR, restoring momentum to Solana’s liquidity pools.

This resurgence in activity attracted investors back to the network, and with the mission to revive Solana deemed a success, the interest in Bonk surged, leading to a significant appreciation in the token’s value. Within just four days of the same month, the token experienced a 10x price increase.

Where to buy BONK?

BONK, the meme-inspired cryptocurrency, is available for purchase on Bitvavo, a Dutch exchange. As of now, Bitvavo only supports direct, 1-for-1 transactions, meaning users can buy BONK without the option to short or trade with leverage. While it remains uncertain whether Bitvavo will introduce these trading functionalities for BONK in the future, traders looking for more advanced options might consider Bybit.

Bybit’s spot trading platform lists BONK and typically offers a variety of trading tools, including the potential to go long or short with leverage, giving traders the opportunity to strategize and manage their investments according to market movements and their risk appetite.

Bonk Meme

How to Earn BONK?

There are several ways to earn BONK tokens. Here is an overview of the ways to earn more BONK:

  1. Akeo labs: Holders of Akeo NFTs can stake them and earn BONK.
  2. Aurory: Play the Aurory tactics game and earn BONK for every victory.
  3. Bonkomatic: Stake SOL tokens and earn BONK.
  4. Communi3: Bid to earn mints/auctions using BONK.
  5. Raven (Blocksmith Labs): Earn BONK for retweets with Raven’s gamified marketing.
  6. Zeta markets: Earn BONK rewards whilst trading perps on a performant DEX.

It is worth noting that this information might be outdated and the platforms and ways to earn BONK can be changed without your knowledge. It is highly advised to check and double-check the current information on the website or official channel of the mentioned platforms before making any action.

BONK Airdrop

The BONK Airdrop was a whopping 50% of the total BONK offerings. It was divided into four categories:

  • 20% went to Solana NFT collections
  • 15% went to early Openbook dealers
  • 10% went to Solana artists and collectors
  • 5% went to Solana developers

Only individuals with the specific NFTs would have received a portion of the airdrop without having to take additional action.

BONK Distirbution

Could BONK ever reach $1?

It is unlikely that BONK will ever reach a value of $1, this would mean that BONK’s market capitalization would have to reach extreme heights. Since BONK’s current market capitalization is $64 million, it would have to increase by a factor of 200,000 to reach $1 and become 12.8 trillion. This is simply impossible, which is why it is wise to remain realistic about BONK’s potential value and consider it carefully before deciding to invest in it.

Bonk Betting


There are several risks associated with buying BONK. Below are some key risks:

  • Volatility: BONK is a volatile cryptocurrency. This means that the price of BONK can fluctuate, sometimes sharply.
  • Uncertain future: BONK is a just-listed coin and it is still unknown what its future will look like.
  • Hype: There is a risk that early investors will try to capitalize on the hype surrounding BONK and sell their positions for a profit, which could make you their “exit liquidity”.
warning disclaimer
It's important to approach cryptocurrency trading as a highly speculative investment and only use funds you can afford to lose. If you had invested in the top 100 cryptocurrencies five years ago, you would find that the majority have underperformed Bitcoin. In fact, since 2018, Bitcoin has outperformed 97% of the other cryptocurrencies in the top 100. This trend is likely to continue, emphasizing the importance of understanding the odds are against you picking the right cryptocurrency.
Learn More About Trading

Disclaimer: Trading and investing in cryptocurrencies (also called digital or virtual currencies, altcoins) involves a substantial risk of loss and is not suitable for every investor. You are solely responsible for the risk and financial resources you use to trade crypto. The content on this website is primarily for informational purposes and does not constitute financial advice.

Are you ready to take your trading skills to the next level?

"Trade Like a PEPE" is the ultimate course that will transform you into a confident and profitable trader! 📈

🐸 Transform into a confident and profitable trader

📈 Master technical analysis, risk management, and market psychology to navigate the crypto markets like a pro.

🔍 Develop a proven trading plan and spot high-probability setups.

Safe your spot!