Bonk 2.0: What’s Next For Solana’s Favorite Dog?

Can new heat rekindle an old fire?

The team behind Bonk is looking to answer that question.

NOTE: This story first appeared in my Ministry of Alpha NFT newsletter on Substack. I have reprinted it here with minor modifications.

I’m sure you know Bonk. And if you haven’t, Bonk is a meme coin that caught fire late last year and captured the imagination of a Solana community deep in a post-FTX funk. Out of the blue, the token landed in wallets across the Solana ecosystem, generating thousands and tens of thousands of dollars of wealth literally overnight for people who did nothing but own certain NFTs that were eligible for the airdrop.

Bonk at one point touched 0.00005 and change. Since then, the Doge of SOL has cooled markedly, down more than 90%. It’s at about this point that history’s other flamed-out meme tokens would have ingloriously faded away, the heat of their moment now cooled. Token traders would have moved on to the latest fad.

Alas, that’s not Bonk’s trajectory.

The project continues to build, aiming to turn the meme coin that revived Solana into a meme coin that crosses multiple blockchains and becomes a utility token for a range of services.