Solana memecoin Bonk Inu has completed the purchase of the multichain art marketplace Exchange Art. While the purchase is a surprise for community members, speculators have their eyes peeled on a potential rally for BONK price.
Bonk Inu Completes Exchange Art Acquisition
According to a post on X, Solana-based project Bonk Inu has outrightly purchased Exchange Art. While the announcement did not disclose the figures surrounding the deal, Bonk Inu says it will preserve art on the Solana network.
The acquisition will see the phasing out of Exchange Art’s leadership and replacement with a brand-new team. Internationally exhibited artist JT Liss has been tapped to lead the operations at Exchange Art amid grand plans to improve Solana’s creator economy.
“Bonk has officially acquired the art marketplace Exchange Art,” read the announcement. “The goal? To preserve and elevate the culture around creating, collecting, and appreciating art on-chain.”
Bonk Inu co-founder TheOnlyNom disclosed that the top Solana memecoin will continue Exchange Art’s streak of promoting art in the ecosystem. The co-founder confirmed plans to integrate Exchange Art with the BONK Art Masters initiative.
“It’ll continue to expand the reach of artists creating works on the platform, improving the financial incentives for both creators and collectors,” said TheOnlyNom.
Price To Rally On The Back Of The Acquisition?
At the moment, the BONK price is largely uneventful following reports of Exchange Art Acquisition. It has fallen by 6% over the last 24 hours and currently trades at $0.00001361.
The meme coin indicates no signs of an upswing, with daily trading volumes down by 30% over the last day at $107 million. The dog-themed coin has lost 77% since hitting its previous all-time high, but community sentiment remains enthusiastic.
On the other hand, Solana (SOL) price is up 2% amid frenetic meme coin activity in its ecosystem. On the back of meme coin activity on the network, pundits say SOL can rally 96% to reach $270.
Despite the buzz around dog-themed tokens, Cathie Wood predicts that memecoins will lose value in the coming years.
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