Bonk gave away half its supply while Solana was trading near $8 In December 2022, Solana was reeling from its close ties to the collapsed FTX, with solana:So11111111111111111111111111111111111111112 trading near $8 after a 96% fall from its highs. On Christmas Day, an anonymous team issued @bonk_inu and airdropped half the supply across the ecosystem: NFT holders, traders, DeFi users, artists, and developers. There was no presale, no venture funding and no whitepaper. SOL snapped nine straight losing days and climbed back above $13 in the week that followed. The team burned its stated 5 trillion solana:DezXAZ8z7PnrnRJjz3wXBoRgixCa6xjnB7YaB1pPB263 allocation weeks later, and burns have kept chipping away since: max supply is now near 89 trillion of the original 100 trillion. The token's market cap sits around $264M, up nearly 29% this week.