CandleFocus BONK Plunges 7% Despite BURNmas Burning $51M Worth of Tokens
2024-12-27
Author: Content Editor
The BONK decentralized autonomous organization (DAO) has burned 1.69 trillion BONK tokens, worth $52 million, as part of its efforts to optimize token economics and create long-term value for stakeholders. This burn was part of the "BURNmas" initiative, initially intended to burn 1 trillion tokens but was extended. Despite a price drop after the burn, BONK remains the fourth-largest memecoin in a market worth $105 billion.
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