BONK A LIFEBOAT FOR SOLANA?

Solana has been down 80% from its ATH M.CAP for some time now and it can be linked to bear syndrome, bug attack and the worst was the Alameda debacle which has made some of us lose faith in the project.

Its price recently spiked from $10 to $13 following the listing of $BONK on MEXC GLOBAL and consequently has been listed on other Cexes like BKEX and Bitget. The meme project was built on the Solana blockchain to revamp liquidity in its ecosystem which has been progressive in my opinion.t

Despite being a meme BONK looks so promising as its roadmap captures some factors, which drive the stability of crypto projects such as
1. STAKING
2. LEND AND BORROWING
3. RAFFLES AND TRADE CONTESTS
4. GOVERNANCE

Can all these keep BONK on the highs, should they reach the aim of providing them, thereby keeping SOL stable in price since a lift for BONK will do the same for SOL, what are your thoughts?
Here's it

https://coinmarketcap.com/currencies/bonk1

5 thoughts on “BONK A LIFEBOAT FOR SOLANA?”

  1. Like you said, since the launch of BONK, SOL has seen an increased trading volume in the past 3 days. Perhaps, that’s the reason it was made for; to reinvigorate and revamp the ecosystem. Although the market cap has dropped, anyone who bought around the time it was listed on MEXC and Huobi should still be in good profits. Also, I see this as a correction since the concepts of “oversold” and “overbought” must be observed.

  2. I won’t say it’s a lifeboat, but it’s surely might make a difference as oracles and exchanges pile up to have it available on their platforms. DIA Oracle already announced that it live prices are already active… it’s trading might be next and there’s some (unconfirmed) talks about BONK being listed on KuCoin too.
    With increasing demand and volume it might bring some life back to Solana, but there’s no meme that can save an L1, and if it does, something is very wrong!

  3. Divvy.bet is airdropping BONK tokens for anyone that tries devnet!

    https://twitter.com/divvybet/status/1610647798956924935?s=46&t=Ve5hWs3AUj4sBs8MHj_quA

  4. Maybe not entirely a lifeboat, but it could save solana from drowning more. From what I’m seeing so far solana community is actually seeing the aim of launching BONK, there have been a spike in their price. I hope it continues though because I love how these past days have been for me. I was gradually healing from the heart break of the bear market.

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