The Shiba Inu coin called BONK on Solana has recently started attracting attention again, and its price has been rising quite well. The project appeared in 2022 and sparked quite a lot of buzz in the Solana community at the time.

The reason BONK has caught on is mainly because its airdrop strategy was executed well. They airdropped a large amount of tokens to early Solana users and NFT holders, which helped build a group of loyal community members. In other words, it caught the tail end of the growth phase of the Solana ecosystem.

However, BONK isn’t just a pure meme coin—it has also been integrated with various dApps on Solana, giving it some real use cases and support, rather than relying entirely on hype. But then again, as a Shiba Inu-themed meme coin, BONK’s price is still subject to significant volatility; when the market moves, it moves with it. Recently, SOL has risen to the 87 range or a bit above, and BONK has shown some performance as well, with a 24-hour increase of a bit over 1%.

Projects like this come with both risks and opportunities—you’ll have to decide how you view them.