1 Trillion Burn Picks Pace, Founder Gives $0.11 Price Target

Bonk has unveiled its bold plan to burn 1 trillion tokens as part of its ongoing “BURNmas campaign”, with its founders predicting a price target of $0.11. If the BONK token reaches this price, it would represent an incredible 328,000% gain from its current price. Moreover, the token surged 30% in the last 24 hours on the news of listing on the Robinhood exchange. The token momentum continues to build, signaling strong potential for future growth.

BONK’s Token Burn Plan Fuels Market Optimism

The latest update on the BONK token burn has gained notable traction from market enthusiasts. Besides, the bold price target set by the founder has further fueled discussions in the market. Notably, excitement is building as the token gears up for its highly anticipated “BURNmas” event, which aims to make a significant dent in its supply before Christmas.

The campaign was launched on November 15th and has gained a massive attraction, with over 810 billion tokens already confirmed for burning. As Christmas is near, the community is targeting to achieve the 1 trillion milestone by December 24. “BURNmas” combines scarcity-driven economics with community engagement as every tweet using the hashtag #LetsBONK contributes 100k tokens to burn.

BONK’s 1 Trillion Burn Hustle is Breaking the Crypto Grid

The Solana meme token BONK is going hard with its BURNmas campaign, edging toward an insane 1 trillion tokens burned.

810.57 billion BONK are already locked for burn, with a huge assist from #LetsBONK tweets – each… pic.twitter.com/yBTBtUwlmw

— Mario Nawfal’s Roundtable (@RoundtableSpace) December 21, 2024

This initiative has energized BONK supporters globally, showcasing their collective commitment to the token’s ecosystem. By reducing supply and increasing scarcity, the burn event aims to create long-term value while reinforcing BONK’s relevance in the highly competitive crypto landscape.

What’s Next For The Meme Coin’s Price?

BONK price was trading at $0.0000339, showing a 30% increase in the last 24 hours. The top meme coin boasts a market cap of $2.57 billion and a trading volume of $851 million, reflecting its strong market presence. Over the last three months, its price has surged by 92%, outperforming many other tokens. It’s also the only top 10 meme coin to achieve 30% growth in the past 24 hours, further cementing its rising popularity among investors.

Its Futures open interest has grown significantly, up by 28% to $385 million, indicating sustained interest from traders amid the BONK token burn optimism. Notably, Bybit contributed $311 million to BONK’s futures volume, as per Coinglass, showcasing the exchange’s dominant role in the token’s derivatives trading activity.

Meanwhile, amid this, the token founders known as Nom(@TheOnlyNom) have set an ambitious price target of $0.11. If the token prices reach this, it would result in a staggering 328,000% gain from its current value. This ambitious target highlights the growing confidence in its potential to make a major impact in the crypto market.

Moreover, BONK recently achieved a significant milestone with its listing on the Robinhood exchange on December 20. The listing has already boosted its visibility and market activity, contributing to the 30% surge in the price in the last 24 hours. The increased accessibility on a mainstream platform like Robinhood marks a pivotal moment for BONK, enhancing its reach among retail investors and further validating its market presence.

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Coingape Staff

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.