BONK Memecoin to Burn $50 Million to Commemorate 2nd Anniversary

BONK, a Solana dog-themed memecoin, will burn 1.69 trillion tokens, worth approximately $54 million and around 2% of its total supply, during its BURNmas event, according to a recent X post . The event will proceed once community members approve the burn via a DAO vote. The move follows a Nov. 13 burn where $3.15 million worth of BONK tokens were burnt, which caused the price to rise over 50% to an all-time high market capitalization of $4 billion. However, its market cap has dropped since then and is now at $2.3 billion, according to Coingecko data . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io