 Hello and welcome to Make Money Territory. In this video we will be talking about the latest update on Bonk Inu. As of the time of this video, Bonk is trading at $0.0000111. Considering the 3% increase in price movement, it appears that the altcoin's value may continue to decrease in the short term unless new market news emerges. According to Santiment data, the weighted sentiment of the token, which was positive during the weeks of Bonk's rise, turned negative on December 29th and is retracing to a positive zone. As market sentiment changed, there was also an increase in token sales. It can be understood from Bonk's fundamental momentum that investors have preferred to sell rather than accumulate tokens since the beginning of the year. Bonk's Moneyflow Index, MFI, rose from a low of $17.77 to a nearly neutral level of $46.88. While the Relative Strength Index, RSI, remained at $36.34, these values suggest that there is an air of uncertainty among market participants and despite the selling pressure it is possible that demand in the market may begin to increase again. If there is another downturn, a pullback in price could potentially begin anew. Additionally, Bonk's Chakin Moneyflow, CMF, was at a positive value of $0.15 at the time of writing. A cryptocurrency's CMF above the zero line indicates an increase in liquidity inflow. This could mean that investors are watching for opportunities to enter the market and exert upward pressure on the price of a cryptocurrency. Interestingly, despite all the price declines, market investors in futures trading continue to open long positions, seemingly supporting a new price increase. According to data provided by Coenglass, there was a 32% increase in open interest for Bonk over the past five days. Funding rates on exchanges also appeared to be significantly positive during the same period. While Bitcoin, BTC, the world's largest cryptocurrency by market capitalization, has had a strong start to 2024. Picking up where it left off in the final months of 2023, meme coins have generally been performing badly in recent weeks. Dogecoin and Shiba Inu are both down around 5% so far this year and nearly 20% down versus December's highs, so it's not just Bonk that has been performing badly. The number of active users trading Bonk on the Solana blockchain has been trending lower in recent weeks as per a Dune dashboard. That's indicative that crypto investors are taking fewer riskier bets. But should spot Bitcoin ETFs get approved in the coming days as many are expecting, this could inject fresh risk appetite into the market which could benefit meme coins like Bonk. Bonk, Bonk, the Solana meme coin gained nearly 13,000% in value in 2023 as Solana ecosystem tokens surged several times in the past year. However, the narrative seems to be shifting as traders seem to be taking profits to rotate funds into newer plays. Solana ecosystem tokens, notably Bonk, have dropped from recently set highs, hinting at profit-taking from investors who probably made significant returns on their initial positions as prices jumped. Solana has captivated most of the market's interest, becoming one of the strongest draws among on-chain traders as its general ecosystem flourished. According to the OnePager, Bonk is the first dog-themed coin on Solana for the people by the people, with 50% of the total supply of the cryptocurrency airdrop to the Solana community. Bonk is similar to Shiba Inu, Shib, and Dogecoin, Doge meme coins. It was launched on December 25, 2022, and led to an increase in the price of the SOL token, a rise of 34% in 48 hours. Trading began on December 30, 2022, arousing genuine interest from the crypto community. The main goal of the team is to bring back liquidity to Solana-based decentralized exchanges, DEX. The idea of the developers was to create a full-fledged community coin that will be used across all the dApps built on Solana, and each user will have the opportunity to become part of the ecosystem where everyone gets a fair shot. Abonk was airdropped randomly to Solana NFT collectors, developers, and artists. Other airdrop details remain unknown. Currently, the project has a small digital footprint on the internet except for an active Twitter account. Nearly half of the total supply, that is 50 trillion coins, is distributed among those who maintain the Solana blockchain and contribute to the development of the community in any way possible. According to Orca, a DEX built on top of the Solana blockchain, the airdrop resulted in approximately $20 million in trading volume. Since DollarBonk was listed across a number of popular crypto exchanges on December 30, 2022, the token has grown by over 2000% in a week. Some projects built on Solana have already integrated DollarBonk as an option to make payments for NFTs, while others have provided users with the opportunity to earn bonk tokens for staking NFTs. In line with the team's strategy, 50% of the total supply was airdropped to Solana users, artists, creators, and active community members. The total supply of DollarBonk is nearly 100 trillion coins distributed as follows. 5% to team development, 5% to marketing, 5% to initial liquidity, 15% to the bonk DAO, 20% to early contributors, 20% to 40 Solana NFT collections, 297k individual NFTs, 15% to early open book traders, 10% to Solana collectors and artists, 5% to Solana developers. As of January 2023, there are 56 trillion tokens in circulation. As a Solana-based token, Bonk relies on a unique combination of Proof of History, POH and Proof of Stake, POS consensus mechanisms, which improves throughput and scalability. Solana is a Layer 1 blockchain, considered one of the most high-performance permissionless blockchain on the market and fastest networks due to its speed and claimed throughput. The network of 200 distinct nodes can process up to 50,000 transactions per second, TPS. As of January 2023, Bonk can be traded on platforms like Huobi, Mexi, Bybit, BitGit. It's also available on gait.io, Polynex, Orca, Elbank, Bekex, CoinX, BitMart, BitRu, DigiFineX, XT.com, BingX. Thanks for watching, don't forget to subscribe for more updates.