coindoo.com
08 July 2025 03:41, UTC
Bonk (BONK), a prominent memecoin on the Solana network, has announced plans to burn 1 trillion tokens—worth roughly $22 million—after nearing the milestone of 1 million holders.
The news was shared via the project’s official X account, though no exact timeline for the burn has been provided.
With a current market cap of around $1.8 billion, the planned burn represents a relatively small fraction of the total supply.
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Developers have not yet clarified whether the tokens will be removed from circulating supply or come from team-owned reserves.
While the move has stirred excitement in the Bonk community, some analysts caution that token burns, especially in the memecoin space, don’t always lead to meaningful price changes—either due to prior anticipation or limited scale relative to market value.
Nonetheless, the milestone marks a symbolic achievement for the project as it crosses the 1 million user threshold.
