Solana-based project BONK has experienced a 24-hour increase of more than 49%, attaining a market value exceeding $880 million USD in the process.

For those unfamiliar with the term, the term "BONK" is an doge-associated meme, first attributed to the baseball wielding Doge.

SEE: Doge being bonked by Cheems

Currently, the memecoin stands as the second-highest in market value among Dogecoin-themed tokens, trailing only DOGE and SHIB.

Exchange Listing

Today, the token secured a listing on Korea's Coinone exchange, continuing its momentum of being listed on exchanges.

BONK prices have effectively recovered from last week's losses, reaching $0.000014 with a substantial trading volume surpassing $235 million.

Issued in December following Sam Bankman-Fried's setback, BONK initially emerged as a meme coin, contributing to a downturn in Solana sentiment.

Despite this, it swiftly gained adoption within the Solana ecosystem.

Various projects, likely jokingly, incorporated BONK for NFT payments, while others employed "burn" mechanisms for NFT-based events shortly after its launch.

Dogecoin Ecosystem

The Dogecoin ecosystem is witnessing a revival, extending beyond memecoins inspired by the legendary shiba inu meme.

Notably, ancillary projects like the Layer-2 initiative DogeLayer are emerging, underscoring renewed interest in the broader Dogecoin community.

Will There Be a Bonk Airdrop?

Solana airdrops appear to be quite the hype recently, with Jito Labs' JTO token taking centre stage just a few days back.

Airdrops typically reward active users within the ecosystem, so it's likely surprising to know that Bonk HAS done an airdrop before.

When the Solana Web3 smartphone Saga was launched, buyers of the phone were rewarded with $10 worth of BONK tokens.

That same amount now is worth more than $300 as of time of publication.

BONK's popularity may suggest a greater emphasis on marketing, which increases the odds of a potential airdrop in the coming weeks.

Coinlive will continue to keep tabs on the BONK project, and update immediately should there be an airdrop announced.