Hype surrounding Solana-based meme token Bonk (BONK) has died down. The meme coin is dropping in value and is worth nearly 22% less than it was seven days ago.

The dog-themed coin, which blew up this month, is currently priced at $0.00001492, according to CoinGecko. That’s a 7.5% 24-hour drop.

Perhaps even more indicative of waning investor interest is BONK’s plunge since the all-time high it touched on December 15: it is now down by over 56%.

And BONK’s market cap is now sitting below the $1 billion it touched a fortnight ago. It now stands at $907 million and the token has dropped to the 84th largest crypto-asset. It reached the very meme-friendly 69th spot on December 14.

Still, the token is up significantly since its launch last Christmas—by 17,196%—so long-term investors are in the black.

As Decrypt previously reported, Solana developers were given

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Author: Mathew Di Salvo

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