Bonk On ETH (BONKONETH) is primarily used for trading and speculative purposes within the cryptocurrency market. As a meme coin, its value is largely influenced by community engagement, social media trends, and market speculation. The token also aims to bring liquidity to decentralized exchanges (DEXs) and be integrated across various decentralised applications (dApps) on the Ethereum network. There are no transaction taxes associated with BONK, which encourages its use for small transactions and tipping within its community.

Although 'BONK' was the ticker assigned at the deployment of the Bonk On ETH Token's smart contract, it is already in use by another asset that has a larger market presence and higher trading volume on major exchanges. Due to this pre-existing association and to avoid confusion in the marketplace, the alternative ticker 'BONKONETH' has been adopted for this token. This designation is specifically used to ensure that assets are distinctly identified.