BONK NFTs make a killing, but meme token down 69% from peak

The BONK token, similar to Dogecoin and Shiba Inu (SHIB) on Ethereum, has taken a 69% nosedive since reaching its peak of $0.00000487 just last week on January 5, 2023. 

Its popularity, however, still rages thanks to the release of BONK’s NFT series (BONKz) inspired by the pup-themed meme token. BONKz NFTs made its debut on Magic Eden. And before you can say “NFT-tastic,” all 15,000 of these NFTs were snatched up in a matter of hours on the morning of January 11, 2023.

All BONKz burned

The NFTs sold for 16.25 million BONK a pop – or $26 if you will. But on the open market, they’re selling for a pretty penny. Right now, the cheapest listed NFT on Magic Eden is going for 17 SOL – around $280. All told, the project has raked in a whopping $913,000 in sales, as measured in SOL.

We have just BURNED 100% of the raised $BONK

This ended up being 165 Billion $BONK or $255,000 USD$BONK pic.twitter.com/oMipHK6B2y

— OMNI (@OMNIcreative_) January 10, 2023

The BONKz project is a colorful collaboration between Solana’s creative powerhouse OMNI (The Fracture) and talented artists like John Lê and Degen Poet. All 165 billion BONKz, equivalent to around $255,000 were permanently destroyed as part of the team’s plan to shrink the total number of BONK tokens in circulation.

It was a Merry Xmas for Solana Community

Despite the NFT launch, BONK is prone to ups and downs, and is now 4% lower, as per CoinmarketCap. Currently the token sits at a value of $0.0000015.

BONK hit the scene in December 2023, like a present from Santa. Trillions of tokens were gifted  to the Solana community members including, NFT creators, dApp builders and artists. The airdrop started on Christmas day, bringing joy to even holders of various NFT collections.