Why has a meme coin, with little to no utility, an anonymous team, and not even a Tweet of support from Elon Musk, gained so much interest?

Pepe ’s notable community engagement and unique branding have fueled its popularity among those looking for a meme coin with a rebellious flair. Inflation has been moderating and traders have been increasing their bets on Fed rate cuts in 2024, while the U. BONK, the inaugural dog-themed coin on Solana, is enhancing liquidity in Solana-based decentralized exchanges.Launched on December 25, 2022, BONK has surpassed Pepe coin to become the third-largest meme token by market capitalization. Bonk refers to a series of comic-style memes in which meme characters such as Doge and Cheems get hit on the head with bats, hammers and other heavy objects, accompanied by "Bonk" sound effect and clipart. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services. While BONK is similar to DOGE and SHIB in that it features a cute dog as its mascot and logo, it differs from them in several ways. All our content is produced independently by our experienced and qualified teams of news journalists.

As much as people enjoy trading them (and in their defense, they do usually market themselves as frivolous) they do inevitably add to crypto’s reputation as a purely speculative endeavor. Furthermore, the trend is also partially driven by the utility and innovation introduced by the new generation of meme coins, exemplified by features such as Boost-to-Earn staking , which explore new possibilities and challenge norms within the blockchain space.An inactive Ethereum investor begins selling holdings amidst Ethereum's market struggles, while curious Chainlink and Bonk trading patterns emerge. Supply Details: The coin has a maximum supply of 100 trillion, with 60 trillion in circulation as of mid-December 2023.