New DOGE is here 🐶

GM Guys and Gals,

Meme coins have always taken over twitter and the web3 community so far. The traction is just mind blowing 🤯. There's a good news - we've a new member in the Meme Coin community by $SOLANA 🚀

The New Version of DOG 🐶

Have you heard about Bonk? The new dog memecoin has been spreading New Year’s cheer throughout the Solana community, posting a 983% gain since Dec. 29 and breaking a $50 million market capitalization (market cap).

The token, billed as “The first Solana Dog Coin for the people, by the people” has taken Solana Twitter by storm in the past week. Upon launch, 50% of the initial token supply was airdropped to Solana Non-Fungible Token (NFT) collectors, traders, artists, and developers, according to Bonk’s one-pager.

👉🏻 “The Bonk contributors were tired of toxic “Alameda” tokenomics and wanted to make a fun memecoin where everyone gets a fair shot,” according to the website.

🥳 Bonk was launched on Dec. 25 but started dropping hints in its first tweet on Dec. 8.

Game 🎮 of Market Cap 🧢

For context, the market cap of $BONK is already nearly five times greater than that of OG Solana dog memecoin Samoyedcoin ($SAMO), which currently stands at about $11 million after posting a 15% jump in the past 24 hours.

The all-time high market cap of $SAMO was more than $700 million in October 2021.

The Conclusion 🕵🏻

Bonk has taken Solana Twitter by storm. In the past week the new memecoin has posted 10x gains, surpassing a $50 million market cap.

That's it for the day, Web3Shala 👋

To the moon 🪐LFG 🚀