Who Let The BoDoggos Out?

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Sol NFTs are goin crazzyyy so we have to cover it

Here is the breakdown of today's newsletter:

📈 BoDoggos Go Wild
🐶 The Meteoric Rise Of Bonk

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Solana NFTs On The Run 📈

Move over Ethereum, Solana has risen from the ashes.

Recently $SOL has been on a run and in turn Solana based NFTs have followed in its footsteps. $SOL has been up over 500% this year alone and currently sits at $72.5 a coin.

BoDoggos Go Wild 🐶

Like many things in web3, a catalyst purchase set the BoDoggos NFT collection in a skyward projection.

💡 What happend?

• Gordon Goner (one of the founders of BAYC) purchased his first SOL NFT, BoDoggos NFT which sent the collection flying overnight from a 6 SOL floor to over a 16 SOL floor. You can see the purchase here. 

• Currently the collection has rested back down to 11 SOL but collectors are posting like wild on X (Twitter).

This is just one of the many collections that has heated up over the past week and as you can see below Solana NFT sales flipped ETH NFT sales on the 7 day chart.

Back to Bodoggos, this morning a grail BoDoggos sold for 525 $SOL or $37,000+ USD. You can see that purchase made here.

Lastly we have an important poll for you to answer:

• DeGods: Founder Frank hints at possible return to Solana for collection by posting it on the “wen” board. (@frankdegods)

• Bitcoin Shrooms: Sold out at Sotheby’s auction and fetched a staggering total sale amount of $450,000 USD. (@michaelbouhanna)

• Solana Phone: Also formally known as the Saga android phone flew off the shelves and sold out thanks to $BONK. Each phone came with $30 million $BONK tokens which covers more than phone after the explosion of the coin price in recent days. Incredible timing! (@solanamobile)

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$BONK Goes Bonkers 📈

Whenever the bull run comes back you can bet your hard earned cash that a meme coin out of nowhere will go parabolic.

This time its $BONK or formally known as Bonk Inu that has risen to the ashes to heights that nobody could have imagined. $BONK is a Solana chain coin that was created by anon developers shortly after the FTX crash and at the time of writing has flown up more than 500% in the past month alone. According to GoinGecko, Bonk “is the first Solana dog coin for the people, by the people with 50% of the total supply airdropped to the Solana community. The Bonk contributors were tired of toxic “Alameda” tokenomics and wanted to make a fun memecoin where everyone gets a fair shot.”

At its height last Friday (Dec. 15th) it had a market cap of over $2 Billion USD and a trading volume of $770 million in one single day 🤯

💡 How’d this happened?

• SOL has rallied over 600% this year

• Bonk is the “dog coin of Solana” and is born

• Coinbase adds BONK to their marketplace

• BONK goes bonkers

This is not a recommendation or endorsement to buy, sell, or trade $BONK. We have no affiliation with this coin or the backers of the coin.

• SafeMoon: Filed for Chapter 7 Bankruptcy as the memecoin is down 98.11% from its highs in January 2022. (CM)

• Bitcoin Mining firm Marathon breaks own record, mining 125 BTC in 24 hours (@BitcoinNewsCom)

• Lolli raises $8M for BTC rewards program (P)

• Coinbase, A16Z, and Ripple invest $78M in pro-crypto PAC ahead of elections (CT)

Mad Lads has been on an absolute tear recently as you can see below.

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That's all for today's issue! Thanks for reading this far and also make sure to give our Twitter a follow daily for breaking web3 news! (@TheDropNFT)

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Written by: Gannon Breslin

Disclaimer: The Drop DOES NOT provide financial advice. All content is for informational purposes only. The Drop is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses.