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BONK Surges 40% as Solana Founder Ponders Future of Meme Coins

BONK, the first dog-themed meme coin created on the Solana blockchain, has seen its price jump by 40% over the past 24 hours, according to CoinMarketCap data.

BONK’s recent introduction of single-sided staking on liquidity pools and its appeal as a community-driven token have significantly influenced this uptrend.

More than meme coins?

The rise of BONK has sparked a debate among crypto enthusiasts and prominent figures in the industry.

Anatoly Yakovenko, co-founder of Solana, and Chris Burniske, a notable crypto investor, engaged in a discussion about the potential of meme coins.

Yakovenko pondered whether meme coins could transcend their humorous origins to fuel a global movement.

Do you think meme coins are always going to be just memes (totally fine outcome)? Or do you think it’s possible to build a global movement based on emissions rewarding people for some “missionary” work?

— toly 🇺🇸 (@aeyakovenko) November 20, 2023

In his response, Burniske stressed the need for meme coins to benefit all participants, not just insiders, to correct the missteps of previous crypto ventures. He stressed the importance of aligning valuable labor with the capital it generates.

A new BitMEX listing

In related news, a new BONK contract is set to be listed on BitMEX, according to a Nov. 20 announcement. The new listing, 100BONKUSDT, will offer traders the opportunity to engage in perpetual swaps with up to 10x leverage, starting from tomorrow.

The listing of 100BONK, equivalent to 100 individual BONK tokens, offers a more accessible entry point for traders.

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