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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 memecoin on the Solana 
$171 network, which ranks as one of the largest in its category.
Campaign Details
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.
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 cryptocurrency space.
New Integrations and Exchange Listings
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, Binance.US added BONK to its platform on Wednesday.
Currently, there are around 12,200 posts tagged with #LetsBonk on the X platform.
Origins of BONK
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.”
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.
