A Telegram trading bot for Solana-based memecoin has achieved a significant milestone, surpassing $250 million in daily trading volumes and outperforming Coinbase’s Base chain. The meme coin craze is showing signs of reaching its peak, with trading bots now competing with entire sidechains in terms of trading activity. The analytical service Dune reports that BonkBot, which facilitates trading of Solana’s meme coin BONK, has reached an impressive daily trading volume of $251 million, generating nearly $1.4 million in fees.

BonkBot’s trading volume and fees | Source: Dune

For comparison, DefiLlama data shows that the Coinbase-powered Base sidechain recorded approximately $212 million in daily trading volume, while Polygon witnessed $156.8 million. If BonkBot continues on its current growth trajectory, its next target would be Thorchain, which currently boasts a trading volume of $307 million as of Mar. 19.

Trading volume by chains | Source: DefiLlama

Despite the impressive growth in trading volume, the BONK token itself is facing challenges, with a 21% decline to $0.0000204, according to CoinMarketCap. Originally created by Solana enthusiasts following FTX’s collapse in November 2022, BONK aims to foster optimism within the Solana ecosystem. It has quickly gained popularity within Solana’s community, acting as a reward for various applications built on the blockchain.

Read more:

BONK surges 56% as meme coins gain momentum

Post Views: 3