The price of the Bonk token (BONK), which is based on plans to burn up 280 billion tokens, has risen significantly.
Mon, 22 Apr 2024, 02:49 am UTC
After a surge in memes and an important proposal for a treasury burning to remove 280 billion tokens the price of Bonk (BONK) soared by 43%, signaling a renewed interest from investors and possible market stabilization.
Bonk Tokens Jump 43% – Meme Coin Rally Driven and Major Treasury Proposal
According to reports, the price of Bonk (BONK), an animal-themed token that runs on Solana’s blockchain, has soared by 43% as a result of a rally in meme currencies and a proposed massive burn for 280 billion tokens. U.Today.
BONK’s 24-hour trading volume has increased 391%, totaling $431.53 million. BONK’s trading volume for 24 hours has increased by 391% to $431.53 millions.
BONK reached intraday highs at $0.00002192. This extends a 3-day rally that began on 18 April with a low of $0.00001357. BONK’s fourth-day gain will be if today’s price closes positive.
Bonk’s price rise can be attributed to a number of factors. The most important is the recent resurgence in meme coins on the cryptocurrency market. Investors focused their attention on the Solana Ecosystem as meme coins gained popularity.
Investor interest in Bonk Coins Increases amid Proposal of Burning 280 Billion tokens
Bonk’s price rise may have not been due solely to the rally of meme coins; it might have also been influenced by an important proposal to burn up to 280 billion BONK Tokens.
The announcement in the a TweetBONK DAO has been approached by BONK to dispose of 280 billion BONK.
BONK DAO plans to burn 278 393,137 215, BONK, which is 100% of BONK that BONK DAO generated under the revenue sharing agreement it has with BONKBot, since BONK DAO’s establishment at the end 2023.
Bonk’s community is a fan of the concept and sees it as an effective way to stabilize the market for the coin. It also encourages growth. The anticipation of the approval has driven a buying frenzy and driven Bonk stock up.
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