$BONK, a new memecoin, recently began on the Solana network and is already drawing in considerable attention from the community which has endured harsh market conditions throughout the majority of 2022 with FTX and major NFT collections doing more harm to the blockchain than good. 

$BONK, at the time of this writing, has a price of $0.0000009987 per coin with a total market cap that is just a hair shy of $100,000,000. Despite these bizarre numbers which look terrible at a glance, momentum among memecoins like this are strong based on speculation and hype that everyone that invested will become massively rich if the coin price reaches $1.

The $BONK memecoin is another example of goofy cryptocurrencies that take after popular online dog breeds like Dogecoin and Shiba Inu both do. However, what sets this cryptocurrency apart from its more popular counterparts is the fact that $BONK is doing its best to provide utilities such as assetdash to holders. If these types of benefits continue, $BONK could become a significant challenger in the market of memecoins.