The 25 billion BONK tokens airdropped to Solana developers last year are now worth over $600,000 after the meme token has rallied in the last few months.
During the holidays, it is common for companies to give their employees bonuses, usually in cash or kind. But last year, Solana developers got a potentially life-changing bonus when they were airdropped 25 billion BONK tokens each.
Now, a year later, these developers could find themselves making quite a profit after the value of BONK has skyrocketed.
BONK to the Moon
BONK is a meme token in the same vein as Dogecoin and SHIBA. Based on internet memes, these tokens are not always taken seriously in the industry. Last year, Solana developers were asked to fill out a form in the LamportDAO community. Those who did had the tokens deposited into their wallets.
At the time, the tokens were worth about $300, though it showed signs of promise even then. In under 24 hours, the token had doubled in value and came at a crucial time for the industry.
Late 2022 saw the notable collapse of the FTX exchange and this not only put a damper on the mood but impacted the markets as well. Some developers, upon getting the tokens, sold them, while others held on to them.
For the latter group, the return on investment has been huge. In the last 30 days alone, the value of BONK has jumped by over 800% and while it is worth fractions of pennies per token, those who get the airdrop could cash out significantly. The 25 billion BONK which was worth $300 last year is worth over $664,000 as of this article.
This shows just how much BONK has grown in the last year both in terms of public visibility and value. It is one of the most talked about meme coins on the market today and inevitably draws comparisons to Dogecoin, another iconic meme token. Dogecoin also saw a meteoric rise back in 2021 and this was partially bolstered by the attention that it got from the likes of Elon Musk, who gave it a shoutout during his Saturday Night Live appearance.
BONK has managed to achieve so much in the last year and this is a further testament to the staying power of meme tokens. It is easy to dismiss a token that is based on a funny meme of a dog but Dogecoin and others have shown that they have passionate communities behind them and legitimate applications.
As we round off the year 2023, BONK is being positioned as one of the tokens to watch in 2024. The Solana developers who received the airdrop back in 2022 have already reaped the benefits and as the price continues to rise, so will other investors. In time, we will see if BONK continues to progress and joins the ranks of top meme coins.