Newly launched dog-themed token bonk_inu drove up interest and participation in the Solana community amid a flat market. By shauryamalwa.
SOL traded over $11 on Tuesday following nearly nine straight days of losses that saw them trade at just over $8 on Friday. Selling pressure on the tokens, at the time, came because of their close links to Sam Bankman-Fried, the disgraced founder of crypto exchange FTX, who faces charges of fraud and misappropriation of client funds.
Part of Solana’s price recovery came amid rising interest among Solana community members for Bonk , a newly launched token themed around the shiba inu dog breed that said it would airdrop 50% of its token supply to users last week. The airdrop likely drove massive community interest, with 20% of the total airdrop supply going to Solana NFT collections – comprising 297,000 individual NFTs – and 10% to Solana-focused artists and collectors. Airdrops refer to an unsolicited distribution of a cryptocurrency token or coin, usually for free, to numerous wallet addresses and are generally used as a tactic to gain users.in on-chain volumes in the past 24 hours alone. As of Tuesday, since its Dec.
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