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A Telegram trading bot for Solana-based memecoin has reached the $250 million mark in daily trading volumes, outpacing Coinbase’s entire Base chain. 
The meme coin frenzy appears to be signaling signs of reaching its top as even trading bots now rivaling entire sidechains in trading activity. According to <a href="https://dune.com/whale_hunter/bonkbot" target="_blank" rel="noreferrer noopener">data</a> from analytical service Dune, <a href="https://crypto.news/tag/bonk/" target="_blank" rel="noreferrer noopener">BonkBot</a>, which facilitates trading of Solana’s meme coin BONK, has reached an impressive daily trading volume of $251 million, generating nearly $1.4 million in fees. 
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 <img loading="lazy" decoding="async" width="1024" height="487" src="https://crypto.news/app/uploads/2024/03/biushdas-1024x487.png" alt="Telegram bot BonkBot tops $250m in daily trading volume - 14" class="wp-image-14259450">
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 BonkBot’s trading volume and fees | Source: Dune
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 You might also like: <a href="https://crypto.news/cryptoquant-ceo-says-meme-coins-are-worse-than-shitcoin-icos-sparks-heated-debates/"> CryptoQuant CEO says meme coins are ‘worse than shitcoin ICOs,’ sparks heated debates </a> 
For comparison, <a href="https://defillama.com/dexs/chains" target="_blank" rel="noreferrer noopener">data</a> from DefiLlama shows that the Coinbase-powered <a href="https://crypto.news/tag/base/" target="_blank" rel="noreferrer noopener">Base</a> sidechain recorded approximately $212 million in daily trading volume, while <a href="https://crypto.news/tag/polygon/" target="_blank" rel="noreferrer noopener">Polygon</a> witnessed $156.8 million. Should its growth trajectory continue, BonkBot’s next target would be Thorchain, which boasts a trading volume of $307 million as of Mar. 19. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="694" height="183" src="https://crypto.news/app/uploads/2024/03/bsliufhds.png" alt="Telegram bot BonkBot tops $250m in daily trading volume - 15" class="wp-image-14259451">
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 Trading volume by chains | Source: DefiLlama
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</figure> 
Despite the exponential growth in trading volume, the BONK token itself is facing challenges, experiencing a 21% decline to $0.0000204, according to CoinMarketCap. Originally conceived by Solana enthusiasts in the aftermath of FTX’s collapse in November 2022, BONK <a href="https://crypto.news/solana-price-is-recovering-amid-interest-in-its-meme-coin-bonk/" target="_blank" rel="noreferrer noopener">aims to boost</a> optimism within the Solana ecosystem. It has swiftly gained traction within Solana’s community, serving as an incentive for various applications built on the blockchain. 
 Read more: <a href="https://crypto.news/bonk-surges-56-as-meme-coins-gain-momentum/"> BONK surges 56% as meme coins gain momentum </a>

Telegram bot BonkBot tops $250m in daily trading volume

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