Overview
Bonk (BONK) is a dog-themed meme coin on Solana. It launched on Christmas Day 2022, at Solana’s lowest point: the FTX collapse had wiped out much of the ecosystem and SOL had fallen below $10.
Bonk’s creators, a group of anonymous Solana contributors, gave away half of the entire supply for free to Solana users, NFT artists and developers. The airdrop lifted spirits across the community and is often credited with helping spark Solana’s comeback.
How it works
BONK is a token on Solana. Unlike many meme coins, it has built up an ecosystem:
- Integrations: BONK works in over 400 apps across 13 blockchains — wallets, games, trading bots and payment tools.
- letsBONK.fun: a meme-coin launchpad launched in 2025 with Raydium. For a while it overtook Pump.fun in daily launches. Part of its fees go to the BONK ecosystem.
- BonkBot and other tools that use and reward BONK.
Burns and the treasury company
BONK started with about 100 trillion tokens. Burns from ecosystem fees and community events have brought it down to about 88 trillion.
In October 2025, the Nasdaq-listed company Safety Shot rebranded as Bonk, Inc. (BNKK) and began holding BONK as a treasury asset. Since December 2025, a share of letsBONK.fun fees buys BONK for this company instead of burning it. Reports in 2026 described the company’s cash position as weak, and much of its revenue comes from the founder’s own platform.
The July 2026 treasury attack
In July 2026, an attacker spent about $4 million to buy enough voting power in BonkDAO to pass a malicious proposal, then drained about $20 million from the DAO’s treasury. It wasn’t a code bug but a flaw in how governance votes were designed. The episode damaged trust in BONK’s governance.
The BONK token
| BONK at a glance | |
|---|---|
| Supply (Oct 2026) | about 88 trillion BONK |
| Original supply | about 100 trillion BONK |
| Holders | over 1 million wallets |
| Price (21 Oct 2026) | about $0.0000031 |
| All-time high | about $0.000058 (November 2024) |
| Market cap | about $270 million (#151) |
Bonk vs. the competition
| Bonk | dogwifhat | Pepe | |
|---|---|---|---|
| Blockchain | Solana | Solana | Ethereum |
| Launched | 2022 | 2023 | 2023 |
| Ecosystem | Launchpad, bots, 400+ integrations | None | None |
| Supply | ~88 trillion, burning | ~1 billion, fixed | 420.69 trillion, fixed |
Our verdict
Bonk is more than a typical meme coin: it helped revive Solana, has a huge holder base and runs real products like letsBONK.fun.
But 2026 exposed its weaknesses: a governance attack drained its DAO treasury, its listed company looks fragile, and BONK has lost about 95% of its value since 2024. BONK is a highly speculative investment: invest only what you can afford to lose entirely.
This review is for information only and is not financial advice.