BONK SPILLS 101% Francis to ask for weather between Solana Saga

The meme coin, BONK, and the blockchain that runs on it continue to attract huge investor interest. Currently, Solana-based BONK is the best performing cryptocurrency and has risen 101% in the last 24 hours, according to CoinGecko.

Dog themed token is trading at $0.00002913 hands. It has risen more than 130 percent in the past seven days.

And last month, the token increased in value by 988%. Meme Coin—a dynamic coin or token based on an internet joke or meme continues to rise and is setting new highs all the time. Earlier on Friday, BONK rose to a new all-time high of $0.00003416 before dipping.

BONK's rising prices have fueled a surprising new demand for the Solana Saga smartphone, which launched in April, but it appears to have moderate demand. The phone dropped to $599 in August – but sales picked up this week when Solana fans realized Saga owners could claim a 30 million BONK airdrop.

Now, that's a lot of BONK for roughly $865 more than the price of the smartphone. Solana founder Raj Gokal said last Thursday that sales have increased 10x in the last 48 hours, and Solana Labs announced early Friday that the phone is completely sold out in the United States. Some units are still available in Europe, but they seem to be going fast.

BONK's recent growth will at least partially fuel interest in Solana and its native coin, SOL. Since November, investors have picked up the sixth largest cryptocurrency—and it has soared in value as a result.

Projects on Solana, like BONK, have similarly raised their prices and generated even bigger profits. The token launched last December and was widely available to Solana developers, project creators and collectors – and has grown exponentially since then.

The token is now the 47th largest cryptocurrency by market capitalization, which means that those holding onto their BONK tokens will now reap huge profits. In fact, developers who received 25 billion BONK coins last Christmas, worth about $300 at the time, would now be worth nearly $715,000 if they held them all.

SOL is currently one of the top 20 cryptocurrencies on the rise: the asset has jumped over 6% in the past day and is trading above $76. It rose above $79 earlier on Friday, a 2023 high.

The rest of the crypto market is slightly lower: in 24 hours, Bitcoin is down more than 1% and its price is $42,121.

Ethereum, the second largest cryptocurrency, is down even more – almost 2% – and is trading at $2,241.

With the exception of Avalanche (AVAX), other major coins and tokens are up nearly 6% in 24 hours. Assets gained attention last month after investment banking firm GP Morgan announced that it would use blockchain to virtualize assets.

Edited by Andrew Hayward.