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What is Ponke token, the self-proclaimed degenerate gambler with anger issues

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Ponke (PONKE) isn’t your typical financial instrument. It’s a self-proclaimed “degenerate gambler with anger issues” bouncing bitcoin across the Solana blockchain, leaving a trail of memes and volatile price swings in its wake.
Ponke, the cryptocurrency native to the Solana blockchain, has been making waves in the crypto community with its notable presence.
Ponke has garnered a significant following amongst crypto enthusiasts, even attracting the attention of veteran investor Davinci Jeremie. In 2013, Jeremie famously urged people to buy just $1 of Bitcoin, which has since rocketed in value.
Now, he seems to have set his sights on another crypto: Ponke.

Like I said I would buy $100 of $PONKE and here it is I have some Ponke.
— Davinci Jeremie (@Davincij15) January 20, 2024

While Jeremie’s voice carries weight, he’s not the only one buying Ponke. Crypto Xis full with influencers like Crypto Rover throwing their support behind the project.

I just bought $1,000 worth of $PONKE
— Crypto Rover (@rovercrc) January 22, 2024

As of January 2024, Ponke’s price stands at around $0.061, reflecting a substantial increase of approximately 29.9% in 24 hours and an impressive 135.5% rise over the last week​.
Ponke can be traded on both decentralized and centralized exchanges, with Raydium being the most active trading platform for Ponke/SOL pairs. The 24-hour trading volume of Ponke is over $7 million, indicating a significant market activity​

50% of the total token supply is allocated to the community treasury, which is intended to fund future development and initiatives.
25% of the tokens are allocated to the project team and advisors.
Another 25% is allocated to the initial liquidity pool.
There is a 1% transaction fee on all PONKE transfers, with 50% of this fee burned and the remaining 50% directed towards the community treasury.

Price history of Ponke
Since its inception, Ponke has experienced dramatic fluctuations in its price. It reached its all-time high on December 25, 2023, at approximately $0.08, but also saw an all-time low on January 3, 2024, dropping to around $0.01.

PONKE price over the past 7 days

Ponke is a gamble, in every sense of the word. Its lack of clear utility and reliance on memes and community hype raise valid concerns about long-term sustainability. Yet, there’s an undeniable allure to its playful defiance and focus on community empowerment.
But remember, like any gamble, invest cautiously and only what you can afford to lose.

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