Just when you thought meme coins were over, along comes Bonk (CRYPTO: BONK), the new dog-themed meme coin that started trading at the very end of 2022. Bonk has had two price spikes in the first week of trading in 2023, and some people are already calling it the next Shiba Inu (CRYPTO: SHIB).

Although there are certainly similarities between Bonk and Shiba Inu, there is reason to be skeptical about any meme coin, especially one as new as Bonk. Here's what you need to know about Bonk.

Let's start with the obvious similarity -- the Bonk mascot is a lovable Shiba Inu dog. As such, Bonk is the latest in a long line of dog-themed meme coins that started with Dogecoin.

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Source Fool.com