- BonkDAO burned 1.69 trillion BONK tokens, 1.8% of its total supply, surpassing its one trillion Burnmas target.
- BONK remains Solana’s top memecoin, ranking fourth globally, with a $2.5B market cap and growing on-chain activity.
- Community-driven deflationary strategies like Burnmas show BONK’s dedication to fostering loyalty and boosting token value.
BonkDAO successfully burned 1.69 trillion BONK tokens valued at $54.52 million during its “Burnmas” campaign. Launched on November 15, the initiative aimed to burn one trillion tokens by Christmas.
The community participation pushed the burn count far above the expectations, peaking on December 25. This burn, approximately 1.8% of BONK’s total supply of 92.7 trillion tokens, shows the project’s commitment to deflationary measures.
Burnmas Record Token Reduction
The Burnmas campaign, designed to reduce the circulating supply of BONK tokens, saw active engagement from the BonkDAO community. Initially targeting one trillion tokens, the campaign exceeded its goal, reaching 1.69 trillion tokens burned.
This reduction in supply shows the community’s determination to enhance the token’s value and utility. Such initiatives have demonstrated financial significance in the past.
After the previous burn in November, valued at $4 million, BONK’s market cap surged by 75% in a week, from $2.3 billion to over $4 billion. BONK had a price dip of 6.58% over the last day to $0.00003261, but up by 2.29% in the last 7 days.
BONK Dominates Solana’s Memecoin Sector
BONK remains Solana’s largest memecoin, with a market cap nearing $2.5 billion. Its prominence extends to the broader crypto market, where it ranks as the fourth-largest memecoin globally, behind DOGE, SHIB, and PEPE.
Boasting Solana’s high-speed and cost-effective infrastructure, BONK has a loyal user base while driving substantial on-chain activity. This integration boosts BONK’s significance not only as a memecoin but also as a contributor to Solana’s broader blockchain ecosystem.
BONK’s success lies in its community-driven approach. By involving holders in the Burnmas campaign, BonkDAO transformed its user base into active participants.
This strategy has increased BONK’s engagement, boosting the token’s position in the crypto market. The Burnmas campaign is a testament to the influence of community involvement and strategic deflationary practices.