Notorious Shiba Inu (SHIB) killer Bonk (BONK) has continued to surpass previous milestones, including surpassing the total number of transactions on the Ethereum (ETH) network, and is maintaining its stellar start as a meme coin.
A tweet from the meme coin’s official account claims that in the last 14 days, the token has processed 4,623,518 transactions, which is more than twice as much as Ethereum’s 1,831.79 million transactions. As the first token on the Solana blockchain network to be dog-focused, the new meme coin caused a commotion in the cryptocurrency world. Many people went on board to buy the token as the crypto community sought so much excitement, driving its price to an extremely high pedestal.
At the time of writing, the price of the SHIB killer was $0.00000163, down 57.4% from the previous day. Despite the token’s steep daily decline, its price has increased by more than 2,000% over the last seven days. As a new meme coin, the SHIB killer is on course to surpass Dogecoin’s (DOGE) and Shiba Inu’s return records, and many members of its community think its bullish momentum is just beginning.
Bonk’s Unique Design, The Oomph Factor?
Despite being a relatively new meme coin, the BONK token has a very distinctive design, one of which is its deflationary nature. Of the 56 trillion coins in circulation, the BONK token has burned more than 500 billion tokens thus far.
The new Solana mobile phone Saga is probably going to be used to burn the meme coin’s tokens as well, according to the design of the coin’s burning mechanism. When a user on Twitter mentioned that he could think about using BONK tokens to purchase the phone if some of the revenue will be burned off, Solana Mobile suggested it.
Therefore, in addition to using BONK to pay for the Saga phone, it’s also possible that the business will burn some of the new meme coin tokens it makes from sales.
A new meme coin from Solana is being compared to Shiba Inu by many (SHIB). Additionally, BONK has burn features, just like SHIB. However, compared to SHIB’s 549 trillion in circulating supply, $BONK has a significantly smaller 99.185 trillion.