Solana Developers Ride the Meme Coin Surge to Financial Success
Solana’s meme coin, BONK, has experienced an impressive 821% surge over the last 30 days, reaching new all-time highs and surpassing a $1 billion market cap.
Despite each token’s current value of $0.00002006, the cumulative effect for those holding millions or billions of BONK is substantial. Notably, last Christmas, Solana developers who participated in the LamportDAO community received a generous holiday gift of 25 billion BONK tokens, initially valued at $300 and later doubling in value. The meme coin emerged during a challenging period for Solana, coinciding with a significant drop in SOL’s price.
The airdrop, distributed widely among Solana participants, provided crucial financial relief for some developers during a bear market. While the remarkable price surge may now surprise those who sold, developers currently sit on over $500,000 worth of Solana tokens by holding onto their BONK.Approximately 173 developers received a similar-sized airdrop, contributing to the positive impact of BONK in sustaining Solana developers through tough times.
Clever Robot News Desk 16th December 2023
