The Solana-based meme coin BONK has seen a significant surge in value, with a 30% increase in the last 24 hours. This sudden jump in price can be attributed to the BONK DAO’s ambitious plan to burn 1 trillion tokens through a community-driven campaign. The price of BONK has also seen a 116% pump in the last seven days, with the token currently holding a $3.49 billion market capitalization.
The BONK DAO has unveiled “BURNmas,” which is being described as the largest on-chain community-driven burn event in Solana’s history. The campaign will run from November 15 at 12:01 am UTC through December 24, with the accumulated tokens scheduled for burning on Christmas Day at 12:01 am UTC.
The burn initiative introduces multiple engagement-based criteria for token burning, including social media participation, new followers across Instagram, TikTok, and YouTube, and various ecosystem activities. The campaign also extends to gaming, social media, and trading activities within the BONK ecosystem.
The DAO’s burn initiative spans multiple platforms and activities within the BONK ecosystem. For instance, team BaoBao Animation views will trigger burns of 10,000 BONK per view, while BONKbets platform will result in 50,000 BONK per bet.
This massive token burn has the potential to significantly reduce the circulating supply of BONK, which could lead to a surge in demand and, subsequently, the price of the token. As the community comes together to participate in the burn campaign, it will be interesting to see how the price of BONK reacts.
Predictions:
* BONK could potentially reach a market capitalization of $5 billion by the end of the year, driven by the success of the BURNmas campaign.
* The token burn could lead to a significant increase in demand, resulting in a price surge of up to 50% in the next few weeks.
* The success of the BURNmas campaign could establish BONK as a top meme coin in the Solana ecosystem, potentially leading to increased adoption and usage.
Overall, the BONK DAO’s ambitious plan to burn 1 trillion tokens has the potential to spark a meme coin revolution. As the community comes together to participate in the burn campaign, it will be exciting to see how the price of BONK reacts. Will the token be able to reach new heights, or will the market correct itself? Only time will tell.
