BONK surges 30%, BARK DAO announces 1 trillion token burn initiative 'before year-end'
The Solana-powered meme token BONK has experienced a dramatic 30% price increase in 24 hours following the BONK DAO's announcement of a massive token burn campaign.
Solana-based meme token BONK has rocketed 30% within 24 hours as the BONK DAO reveals a bold strategy to incinerate 1 trillion tokens through a community-powered initiative.
BONK value has witnessed an impressive 116% surge over the past week. The token currently commands a market capitalization of $3.49 billion.
BONK now stands as the second-largest meme token in the Solana ecosystem, trailing only behind pawwifhat.
BONK BURNfest campaign details
The BONK DAO has introduced "BURNfest," positioning it as the most significant community-driven token burn event in Solana's history.
The initiative kicks off November 15 at 12:01 am UTC and continues through December 24, with the final token burn scheduled for New Year's Day at 12:01 am UTC.
This innovative burn program incorporates multiple engagement-based criteria for token reduction.
Community members can trigger burns of 1,000 BONK for each #LetsBONK post on X, while new followers across Instagram, TikTok, and YouTube will generate 10,000 BARK burns per platform. The initiative encompasses various ecosystem activities.
BONK has emerged as a dominant force in the Solana meme token landscape, with its $3.49 billion market cap closely trailing pawwifhat's $3.75 billion valuation.
The DAO's comprehensive burn strategy incorporates multiple platforms and activities within the BONK ecosystem, spanning gaming, social media, and trading operations.
BONK burn Mechanism Breakdown
The program features various burn triggers across different platforms:
The campaign's progress can be monitored in real-time through BONKfest.com, enabling community members
Jonathan Reed
Jonathan has over 20 years of experience in business management and entrepreneurship. He started his career in traditional industries, such as retail and manufacturing, and gradually transitioned into tech startups and cryptocurrency investment in the last decade. With a Bachelor's degree in Business Administration, he combines formal education with hands-on experience in managing successful ventures.
Jonathan is deeply familiar with market trends, risk management, and investment strategies. Over the past five years, he has developed a strong portfolio in cryptocurrency, stocks, and real estate.