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.
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.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/bonk-to-burn-1-trillion-tokens-after-nearing-1-million-holders/