Bonk Inu (BONK) is one of the latest and most talked-about meme crypto coins on the market. It has been gaining traction over the last few months, and this has led to a surge in its price. The coin is modeled after Shiba Inu (SHIB), so it has a lot of similarities. Investors are drawn to Bonk Inu due to its low supply and the potential to generate high yields.
Bonk Inu is a decentralized autonomous organization (DAO) that was launched on December 25th, 2020. The main goal of Bonk Inu is to create a community of meme crypto coin investors. The team behind Bonk Inu is aiming to achieve this goal by creating an incentivized token economy and distributing 50% of the token’s supply to Solana users. This airdrop resulted in more than $20 million in trading volume, according to the Solana decentralized exchange Orca.
The main attraction for investors is the potential to earn high yields, as liquidity providers (LPs) can earn more than 999% APR when interacting with the token. This is much higher than the SOL/USD coin (USDC) pairing. In addition, Bonk Inu is also burning off 1 billion of its supply, which has resulted in an increase in demand as well as a surge in its price.
The rise of Bonk Inu has also had a positive impact on the Solana blockchain, as the fees and daily active users have seen a significant increase. The fees have increased by 18.6% in the past 24 hours and the daily active users have increased by 15.8%. This has also resulted in Solana’s price rallying above $14 for the first time since December 14th.
Investors are drawn to Bonk Inu due to its potential to generate high yields and its low supply. It is also a great way for investors to diversify their portfolios, as the token is based on a different blockchain than the ones most commonly used in the crypto space. In addition, the token is backed by a strong team and a strong community, which is key for the long-term success of any cryptocurrency.
Bonk Inu is quickly gaining traction in the crypto space and is emerging as a potential powerhouse in the meme crypto coin market. With its low supply, potential to generate high yields, and strong team and community backing, Bonk Inu could be a great addition to any investor’s portfolio. As the token continues to grow and develop, it will be interesting to see how the coin performs in the future.
How to purchase Bonk Inu Coin, a lucrative yield
Currently the only way to purchase BONK Inu coin is by owning a Solana wallet (use Phantom Wallet or any other) you’ll need some Solana for transaction fees. You then head over to a Solana DEX exchange like Jupiter and exchange half of your Solana to Bonk and there you go, you now have some BONK.
A step further, you can also gain yield. It’s important that you have a good amount of both Solana and Bonk because you’ll need both to stake in the liquidity pool by Orca. Once you have your amounts head over to the Bonk pool and continue to stake there and once finished you’ll get an NFT that represents your position once that is acquired you’re all set on earning yield for people trading BONK.
