Token

Boost

Value

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bonkdao-launches-token-burning-campaign-to-boost-value/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BONKDAO Launches Token Burning Campaign to Boost Value</a><br></p>
<p style="text-align: justify">BONKDAO announced a new burning campaign aimed at eliminating one trillion BONK tokens, equivalent to approximately $43 million at current prices. This initiative follows the burning of $4 million worth of BONK, a significant <a href="https://en.coin-turk.com/pepe-coin-poised-for-potential-54-price-surge-2/" data-wpel-link="internal" rel="noopener noreferrer nofollow">memecoin</a> on the Solana network, which ranks as one of the largest in its category.</p>
<h2 id="campaign-details">Campaign Details</h2>
<p style="text-align: justify">A blog post from BONKDAO stated, “Token burning reduces the total supply of $BONK, which can increase its value and be beneficial for the community.” The post encouraged community members to contribute by using the #LetsBONK hashtag or by placing sports bets on BONKbets to facilitate more token burns.</p>
<p style="text-align: justify">According to CoinGecko data, BONK’s price surged by 14% in the last 24 hours and 100% over the past week, elevating its market cap to $3 billion, making it the fifth largest memecoin in the <a href="https://en.coin-turk.com/top-on-chain-detective-zachxbt-faces-defamation-suit-calls-for-crypto-community-support/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> space.</p>
<h2 id="new-integrations-and-exchange-listings">New Integrations and Exchange Listings</h2>
<p style="text-align: justify">The announcement of the BURN campaign coincided with the news shared by the Aerodrome team that BONK had integrated with Coinbase-supported L2 Base via the Wormhole protocol. Additionally, <a href="https://en.coin-turk.com/binance-resolves-crypto-withdrawal-issue/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>.US added BONK to its platform on Wednesday.</p>
<p style="text-align: justify">Currently, there are around 12,200 posts tagged with #LetsBonk on the X platform.</p>
<h2 id="origins-of-bonk">Origins of BONK</h2>
<p style="text-align: justify">BONK was launched in the winter of 2022, shortly after the collapse of the FTX exchange, with 50% of the token supply airdropped to the Solana community. According to its about page, one of BONK’s main objectives was to “reward the Solana community, which had a particularly difficult year in 2022.”</p>
<p style="text-align: justify">The burning campaign launched by BONKDAO aims to reduce token supply and potentially positively influence its price. This move, which encourages community participation, is viewed as part of a broader strategy to increase BONK’s market value. Community members will continue to monitor whether this campaign contributes to BONK’s long-term value.</p>
<p>The post <a href="https://en.coin-turk.com/bonkdao-launches-token-burning-campaign-to-boost-value/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BONKDAO Launches Token Burning Campaign to Boost Value</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

BONKDAO Launches Token Burning Campaign to Boost Value

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