When it comes to Meme coins, many people's minds immediately think of one word—"pure hype." But the BONK project seems to genuinely want to break this narrative.

Back in late 2022, the Solana ecosystem was experiencing a liquidity crisis, and BONK was launched at this point. Without private placements or VC backing, the project directly airdropped 50% of the tokens to 300,000 wallets, establishing a grassroots consensus and eventually attracting nearly one million token holders.

What truly sets it apart is that BONK didn't just stay at community hype. Products like BONKSwap and BONK.live were launched one after another, with BONK.live once accounting for 60% of trading volume on Solana's token platform—this number says a lot. More hardcore is the token burn mechanism: transaction fees generated by users are used to buy back and burn tokens, with over 12 trillion tokens burned so far. With real cash flow and actual deflationary pressure, it managed to break free from the "no fundamentals" dilemma typical of pure Meme coins.

Recent actions are also reinforcing this story. Institutions like TenX have started increasing their holdings, and the plan to burn 1 trillion tokens has been put into motion, with a 7-day increase of over 40%. Of course, Meme coins still face cyclical volatility risks, but as an outlier benchmark within the Solana ecosystem, BONK is definitely worth watching to see how it develops next.