BONK, a new Meme Coin issuance platform at Letsbonk.Fun, saw its token's market cap drop to around $13 million, after reaching a peak of $30 million.

BlockBeats News, April 27th, according to GMGN market information, the BONK new Meme coin issuance platform Letsbonk.Fun's namesake token LetsBONK saw its market cap drop to around $13 million, having previously reached a peak of $30 million. As of the time of writing, the token's 24-hour trading volume has reached $55.9 million.

Furthermore, another meme coin on the platform, Hosico, currently has a market cap of $11.03 million, with a 24-hour trading volume of $18.7 million. Some community members have noted that the token's distribution model is not transparent.

In news from yesterday, the Meme project BONK launched the Meme coin issuance platform Letsbonk.Fun. The platform has collaborated with Raydium, and BONK has stated that a portion of the fees will be used to help protect and support the Solana network by utilizing the BONKsol validator, as well as for BONK token purchases and burns.

BlockBeats reminds users that meme coin prices are highly volatile, and users should exercise caution when investing.