 Hello, and welcome to Make Money Territory. In this video, we will be talking about the latest update on Bunky New. Bonk has been one of the biggest stories in crypto the last few weeks, as the meme coin surged nearly 1000% in a matter of weeks, while the broader Solana ecosystem found new life. But meme coins are famously volatile, and Bonk has plunged substantially since hitting a new all-time peak last week. The dog-themed coin skyrocketed last week to a new high price of $0.00003416 on Friday, but has since fallen to a current price of $0.00001931 per data from CoinJecco, a nearly 44% drop in a matter of days. It's only up about 1% over the past 24 hours after gradually sliding over the last few days. Amazingly, the drop only erases about a day's worth of gains for the Solana-based coin, as Bonk hit this price last Thursday before blasting off further to new peaks. Even with this latest downturn, Bonk is up 63% over the last 7 days, and 300% in the past 30 days. But this isn't the first time that Bonk has seen an aggressive rise, followed by a substantial dip. Bonk launched this time last year, and then saw a dramatic rise in fall in early January, albeit on a much smaller scale. The latest peak price is 10 times higher than the top price seen in January. Bonk still has a market cap of $1.17 billion, making it the 60th largest cryptocurrency by that metric. It's still the third largest dog-themed coin after Dogecoin and the Ethereum-based Shiba Inu, Shev. As of this writing, the two largest dog-themed coins have market caps of $13 billion and $6 billion, respectively. Half of the Bonk supply was airdropped to the Solana community beginning last December, with tokens granted to developers, artists, NFT collectors, and others in the space. The world's largest crypto exchange Binance on Tuesday said it is further expanding Bonk trading on the platform by adding it to the Binance margin. The moves after the crypto exchange announced Bonk listing with three new pairs amid massive demand for the meme coin. Will the move bring a recovery and Solana-based meme coin Bonk price? According to an official announcement on December 19th, Binance will add Bonk, Bonk to its Binance margin. With the latest move, Binance has expanded its offerings for users, looking to capitalize on the Bonk price rally. Bonk, Bonk is now available as new borrowable assets on the cross-margin in Bonk-USDT pair and isolated margin in Bonk-USDT pair. Binance has also added Ace-USDT, Alpaca-USDT, Beta-USDT, and Fun-USDT cross-margin pairs, also Ace-USDT and Exno-USDT in isolated margin pair. Binance margin strives to enhance user trading experience by continuously reviewing and expanding the list of trading choices offered on the platform, allowing for greater diversification of user portfolios, and flexibility with trading strategies, said Binance. Bonk is a Solana-based SOL meme coin that was airdropped to the Solana community on Christmas Day 2022. The crypto project's mascot is a Shiba Inu dog, inspired by a popular meme coin called Dogecoin Doge. In the third week of December 2023, Bonk surged over 100% after the token was listed on Coinbase, the biggest crypto exchange in the US by trade volume. A meme coin is a cryptocurrency that is inspired by internet memes, jokes, and satire. Blockchain's are not designed with a specific use case in mind, however, as a meme coin's community and popularity grows, the project may build an ecosystem centered around the meme cryptocurrency. The Bonk cryptocurrency exists on the Solana blockchain, which is one of the most valuable layer 1L1 blockchains in the world. According to Bonk's white paper, the project aims to be a community coin of Solana that will be used across many decentralized applications. DApps. Bonk said that it will flip the script on predatory VC venture capital tokens that preyed on the wider Solana community by giving power back to the people. Tokenomics refers to the study of the supply, distribution, and demand of a cryptocurrency. Below we have compiled some important information that Bonk investors will find useful. Bonk was the third largest meme coin by market cap after Doge and Shiba Inu, Shibi, as of mid-December 2023. It was the 43rd largest crypto by market cap as of mid-December 2023. Bonk is one of the biggest crypto gainers, up 10,000%, in 2023, among the top 100 cryptos in year-to-date terms as of mid-December 2023. It was priced at $0.00002956 and held a fully diluted market capitalization of $1.79 billion as of mid-December 2023. Bonk has a maximum supply of 100 trillion coins. 60 trillion Bonk tokens were in circulation as of mid-December 2023. Bonk aims to do this by air dropping 50% of its total supply to NFT DGENs and DeFi traders, artists, and collectors on Solana. Striding along with Solana's parabolic, 471% yearly upswing, Bonk first became popular among SOL community members for the free-dollar Bonk air drops. Later on it was announced that dollar Bonk air drops are up for grabs for anyone purchasing Solana's Saga Web, three smartphones. Bitcoin whale and disruptive technology pioneer Kyle Chass seconded the opinion of Arthur Hayes that Bonk could outpace Shiba Inu, concluding that memes are leading adoption in this cycle and bringing normies into the crypto realm. Indeed, Bonk first emerged in early 2023 as the Solana savior while the arguably fastest layer one chain crumbled to single digits. However, Bonk's likelihood of outshining Shiba Inu shibs so far is far fetched due to the difference in market capitalization. Meme coins become a driving force of adoption with volatility factors to consider. Bonk has been compared to other meme coins such as Dogecoin and Shiba Inu, but it has its own unique features such as a built-in meme generator and a decentralized exchange, Dex. Thanks for watching, please don't forget to subscribe for more updates.