Token

Solana

Bonk

Billion

<ul class="news-points">
 <li>Bonk DAO burns 84 billion tokens from its treasury, leading to increased scarcity and value for BONK.</li>
 <li>BONK price rises by 3.38% following the token burn, reflecting cautious optimism among traders.</li>
 <li>Technical indicators indicate a balanced market for BONK, with bullish signals from MACD and a neutral RSI.</li>
</ul>
Bonk DAO, a memecoin project on the Solana network, has taken a significant step by burning 84 billion BONK tokens from its treasury.
This action aims to reduce the circulating supply and bolster the long-term value of the crypto asset. The announcement, made on July 8 through the DAO’s official X (formerly Twitter) account, marked a pivotal move for the community.
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 BONK DAO has received a proposal to BURN ~84B BONK from its Treasury representing the Q2 amount of BONK sent to the DAO from BONKBot. All BONK locked on BonkRewards is now able to vote on community proposals. Voting:<a href="https://t.co/akvJAfpCcM" target="_blank" rel="noopener noreferrer nofollow">https://t.co/akvJAfpCcM</a>— BONK DAO (@bonk_dao) <a href="https://twitter.com/bonk_dao/status/1810365995288244383?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 8, 2024</a>
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Token burning involves permanently removing crypto assets from circulation, often by sending them to inaccessible wallets. This strategy is intended to create scarcity, potentially increasing the value of the remaining tok…
The post <a href="https://coinedition.com/bonk-token-soars-after-84-billion-burn-outperforms-altcoin-market/" rel="noopener noreferrer nofollow">BONK Token Soars After 84 Billion Burn, Outperforms Altcoin Market</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

BONK Token Soars After 84 Billion Burn, Outperforms Altcoin Market

Coin Edition

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