Bonk (BONK), a Solana-based meme coin, once a major sensation in the digital currency ecosystem that faded into oblivion, is now charting one of the most ambitious comebacks in its history. The highly volatile digital token is trading at a price valuation of $0.0000006654, up 17.84% over the past 24 hours.
As widely documented, Bonk is known to have bullish price action that can rival that of Shiba Inu (SHIB) and even Dogecoin (DOGE); however, with the bouts of FUD that filled the industry over the past few months, the token was unable to keep up pace with its hype.
In what was tagged an unusual move, the meme coin unveiled a partnership with the Bandit network as it looks to create a cross-chain mint aggregator and bring more utility to $BONK. By virtue of this partnership, users can now mint non-fungible tokens (NFTs) on three of the biggest smart contract networks, including Ethereum (ETH), Solana (SOL) and Binance Smart Chain (BSC) using Bonk.
The temporary demise of BONK hinged on the premise that it was not creating enough avenues to promote the adoption of BONK, a push that Shiba Inu is widely known for.
Reigniting BONK promise
When BONK came into the limelight earlier in the year, it struck a major chord in the hearts of investors on the Solana network. With its revival at the time, there is an expectation that the token will return to fulfilling its initial promises to its early backers.
One such promise is the possibility that the token will be well-featured in the much anticipated Solana Mobile Phone Saga. With plans to accept BONK as a payment model and eventual burning of a portion of the accrued sales, the Solana Phone set up the token on a deflationary path that would complement its existing momentum.
Before expectations build for long, many are currently observing what the recent partnership agreement will help the token achieve in the near term.