The hot meme coin on Solana – BONK- is up over 2000% since its all-time low five days ago. The meme coin that helped boost Solana price last week, announced that it has burned five billion coins, maintaining its hype in the market.

According to its official Twitter handle, Bonk has burned off nearly half a trillion of its entire token supply worth $1.2 million at its current price. The token is bulldozing through other coins in terms of market capitalization as well. Though currently ranked nearly around 2500, the coin has recorded double digits gains almost every day in the last five days. Solana’s native token SOL found itself in deep trouble after top NFT projects, DeGods and y00ts, announced to migrate to Polygon and Ethereum, causing panic and doubt over its reputation.