Why was a coin with half its supply given away in a free airdrop in the first place?
First, some context: BONK has undergone multiple burns, and its total supply is now below the original 100 trillion tokens.
The reasoning behind it: people who receive tokens through an airdrop have almost no cost basis, so they usually feel little hesitation about selling. This can create considerable selling pressure when the token first launches.
$BONK is a meme coin on Solana, launched on December 25, 2022. Current price: 0.0₅323.
Don’t follow along just because everyone around you is buying.
#BONK
Personal notes; not investment advice.
First, some context: BONK has undergone multiple burns, and its total supply is now below the original 100 trillion tokens.
The reasoning behind it: people who receive tokens through an airdrop have almost no cost basis, so they usually feel little hesitation about selling. This can create considerable selling pressure when the token first launches.
$BONK is a meme coin on Solana, launched on December 25, 2022. Current price: 0.0₅323.
Don’t follow along just because everyone around you is buying.
#BONK
Personal notes; not investment advice.