The BonkDAO organization announced that it will burn 2024 trillion BONK tokens worth approximately $1 million by the end of December 54,52 as part of the BURNmas event.
The purpose of the event is to reduce the amount of BONK in circulation in order to make token - more scarce and have a positive impact on its cost.
By the end of the year, nearly 1,8% of the entire BONK supply, which currently stands at approximately 92,7 trillion tokens, will be burned. Before part of the asset is permanently removed from circulation, BonkDAO will hold a vote among members of the crypto project community.
The last major BONK burn took place on July 9, 2024, when BonkDAO destroyed 84 million tokens worth about $2 million. After that, the price of the meme asset increased by 25% in just one day.
BONK Memcoin Rate
Over the past 2,26 hours, the BONK memecoin has fallen by almost 0,0000330% and at the time of writing was trading at $2,51. The market capitalization of the joke asset is $279,21 billion, the daily trading volume exceeded $XNUMX million.
Experts expect BONK's price to fluctuate in the lead-up to the burn as crypto investors watch to see how the meme token's massive destruction will impact its market performance.
