BONKDAO has kicked off an ambitious initiative to burn one trillion BONK tokens, representing an approximate value of $43 million based on current market rates. This campaign follows a previous burn of $4 million in BONK tokens, marking a significant move in the realm of memecoins on the Solana blockchain.
What Are the Goals of the Burning Campaign?
The campaign aims to decrease the total supply of $BONK, which is expected to enhance its market value and benefit the community overall. In a blog post, BONKDAO highlighted the importance of community involvement, urging members to use the #LetsBONK hashtag or participate in sports betting on BONKbets to amplify the burning process.
Which New Platforms Have Integrated BONK?
The launch of this burning campaign aligns with an announcement from the Aerodrome team regarding BONK’s integration with the Coinbase-supported L2 Base through the Wormhole protocol. Additionally, Binance.US welcomed BONK to its trading platform earlier this week.
In recent data from CoinGecko, BONK has seen a price increase of 14% in just 24 hours and a staggering 100% rise over the past week, positioning it as the fifth-largest memecoin in the cryptocurrency market with a market cap of $3 billion.
- The token burning strategy is designed to reduce supply and potentially boost value.
- Community involvement is crucial for the campaign’s success.
- Recent integrations with major platforms enhance BONK’s visibility and trading opportunities.
Launched in late 2022, BONK aimed to reward the Solana community during a challenging year. The current burning campaign represents a strategic effort to not only reduce token supply but also to elevate BONK’s market presence as community engagement continues to be a focal point for its long-term value.