Solana-based Bonkz NFTs are a miracle in the midst of the cryptocurrency winter. However, the price of the BONK cryptocurrency is struggling to keep up.
Good, Solana’s first dog token, has been making headlines since the beginning of the year. Thus, the token could present itself as the savior of the network EARTH ; at least so the community thinks.
This Tuesday, January 10, in collaboration with the Bonk Project, OMNI Creative announced the Bonkz NFTs. The studio also said it will burn Bonk tokens raised from the NFT sale. These then sold out within hours, and the project burned more than 165 million Bonks, worth about $255,000.
Bonkz NFTs earn x14 within 24 hours
The NFT Bonkz entered with a bang. At the time of writing this article, after being hit at around $25, they have now bottomed out at 22.8 SOL, or over $350. This corresponds to a 14x price gain in 24 hours.
According to the data of magic eden, Bonkz’s trading volume is SOL 124,900, or approximately $1.9 million, and there are 771 NFTs listed on the market. Finally, 6,099 unique wallets have these NFTs.
Magic Eden charges 4% royalties for NFT transactions. Similarly, Omni Creatives announced that 50% of all royalties would be used to purchase and burn Bonk tokens.
For now, these NFTs are represented by a generic poster, and whose artwork has yet to be revealed as A surprise.
BONK price crashes 69% in six days
The sale of Bonkz NFTs did not affect the price of Bonk tokens. The asset hit its all-time high on Jan. 5, at around $0.0000049499, and is currently trading at $0.0000015400. Thus, it decreased by almost 69% over six days.
Thereby, in view of the collapse in the price of Bonk, it cannot be ruled out that the price of Bonkz NFT will also collapse. Let’s not forget that the same angles and NFT memes are high-risk investments, mostly based on hype. Investors should always do their own research before investing.invest in such risky activities.
Meanwhile, Solana’s price has nearly doubled since hitting its low of $8 in the last week of December, and is trading at $15.48 at the time of writing.
Moral of the story: to save Solana, it might take more than a canine token.
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