What is the Bonk token - Episode 334 - by cryptohunt.it

What is the Bonk token

It’s Tuesday, Jan 10th - Welcome to the Cryptohunt Jam, where we spend a minute a day explaining the intersection of exciting new technologies and your world. As always: In plain English.

If you've recently thought: I haven't heard much about one of those crypto dogs in a while, then we have some news: A new puppy is in town, and it is called BONK.

But first: What’s up with all those dog cryptocurrencies?

These are called meme coins, meaning they are crypto coins that don't aspire to have any special utility. Mostly, they are just built to entertain the community.

It all started with Dogecoin, which was created as a joke by copy-pasting most of Bitcoin's source code. Fast forward a few years, and Elon Musk is regularly talking about it, and a close cousin called Shiba made some people astronomically rich.

But it's been a while since then. Now, a small community run team on Solana, a blockchain that has lost massive amounts of value recently as it got caught up in the FTX collapse, decided to create some joy in tumultuous times and released BONK, yet another Shiba Inu themed token. They gave away 50% of the coin to the community on Christmas day and the total value has reached $77m at its peak.

And since it’s a meme coin, that’s really all there is to it. But all in all, we think that’s a fun holiday surprise and proof that the crypto community can still have a good time.

And before we end today I want to let you know about a two new fun courses we just released last weekend - as every Saturday: One on our teams predictions and what we are bullish on for 2023 and then a second one that takes on the critical side: The case against crypto. Just head over to www.cryptohunt.it - you will find both of these in the most recent courses section on the homepage.

And I am back with another story tomorrow - it’s never getting boring!

This podcast is produced by Cryptohunt.it, the easiest place to learn all about Web3.