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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.