Question:

It's still Christmas for Solana's dog coin $BONK — people all over crypto twitter are giving away billions of $BONK tokens, and its price has risen over 40% in the last day (NFA). Bring the world up to speed on Bonk Inu, with all of our favorite metrics:

• Total # of holders
• % of holders that are active wallets
• Average amount $bonk in holder wallets
• Average time holding bonk
• Any other notable trends or outliers you see

Then, give us context! What kinds of Solana users are $bonk holders? How active are they, what other tokens do they tend to hold, etc. Has Solana activity as a whole risen in conjunction with recent $bonk activity, and how much Solana activity does Bonk Inu account for?

Solana and $BONK:

Solana is emerging as an early winner as crypto investors begin planning their trading strategies for 2023, aiming to recoup losses from the previous year. Backed by bankrupt cryptocurrency mogul Sam Benkman-Fried, the price of Solana (SOL) saw its value plummet in the months leading up to the new year.

Bonk currency, a new Japanese guard dog-themed meme coin, was the main driver of the 15th-ranked cryptocurrency's price increase, which recently saw a 380% surge since launch. A copy of Shiba Ino running on the SOL blockchain has been making a lot of noise and is currently trending on crypto twitter. BONK, the new meme coin in the crypto industry billed as Solana's first dog coin, has been on the rise all week. The latest growth of the token is currently being boosted by an update shared on the token's Twitter page. According to the token, a total of 500 billion Bonk coins have been burned, cementing one of the most aggressive token burning campaigns in the crypto ecosystem today.

Methodology:

The data provided by Flipside has been used to handle this analysis. This dashboard is going to update every day to track the stats of $BONK in the next days.

• Step 1: Find out the held $BONK token by wallets
  • Table→ from solana.core.fact_transfers where MINT = 'DezXAZ8z7PnrnRJjz3wXBoRgixCa6xjnB7YaB1pPB263'
  • Method→ Difference of received and sent FLOW tokens
• Step 2: Distribution of FLOW tokens among wallets
• Step 3: Price of $BONK token since its launch
• Step 4: Active wallets on Solana and their share on $BONK token
  • Active wallets are considered as wallets that has at least 5 transactions in the past 2 months
• Step 5: Action done by holders
  • Swaps→ Most popular swap programs, Popular assets used for swapping $BONK token into them.
  • Popular DeFi programs among $BONK holders
  • Most popular NFT collections among $BONK holders

Part 1: $BONK stats and its impacts on Solana ecosystem

Part 2: Holders of $BONK

Findings:

This part is used to find out the $BONK price and transfer volume of this token since its launch:

• The highest count of receivers happened on December 25, 2022 and coincided with its airdrop.
• Also on that date, the highest volume of $BONK transfer occurred.
• The price of $BONK token increased tremendously as can be seen.

Part 3: Behavior of $BONK holders

Findings:

This part contains the stats related to the holders of $BONK token:

• Over 45% of $BONK holders have more than 10 million tokens and its the largest group of $BONK holders.
• The second group of holders held under 1000 $BONK token in their wallets.

Findings:

According to the definition of the active wallets on Solana ecosystem, the outcomes of this part are as below:

• About 90% of $BONK holders are active wallets and rest of them considered as de-active wallets.
• But this small part of de-active wallets hold about 50% of total $BONK tokens.
• The average amount of $BONK tokens held by de-active wallets is far more than active wallets.
• Most of the $BONK holders sent their received token within the first 24 hour.

Useful links:

• $BONK token
• $BONK main website
• Article about $BONK
• Solana ecosystem

Conclusion:

By considering the outcomes of this analysis the following statements could be concluded:

• Given the price of BONK and the hype surrounding it, there is no doubt that this coin is the new meme and like SHIB, it may make a lot of noise at first as a DOGE killer. Over time, meme coins like DOGE and SHIB have become well known for their pump and dump scheme and this may become a new narrative for BONK as it continues to grow in popularity.

• Bonk coins have already been included by a number of Solana projects as payment for listed NFTs, and others have even added write methods for NFT-based events.

• Due to the release of $BONK token and its acceptance by digital currency users, Solana network has gained considerable popularity. This popularity can be seen as the price of Solana increases. Also, the count of transactions and active wallets on Solana have been increased after launching $BONK token.

  \

Author:

Credited by MZG

Discord handle: m.zamani#0361

Twitter handle: @GargariZamani

Findings:

This part is the most important part of investigation which contains the behavior of $BONK token holders:

• The most popular DeFi programs among $BONK holders are Jupiter and Raydium platforms.
• The NFT behavior of $BONK holders reveals that the most popular NFT collections among $BONK holders are ABC and Primates collections.
• The first and most used application of $BONK tokens is swap action.
• The most popular swap program for $BONK token is Jupiter Swap V4.
• Most of the $BONK users swapped their tokens into the Wrapped SOL and USD coin as can be seen.