BONK pumps 30%, BONK DAO to burn a trillion coins by holiday

Solana-based meme coin BONK surged 30% in the last 24 hours as BONK DAO announced an ambitious plan to burn 1 trillion tokens through a community-driven campaign.

The price of Bonk (BONK) has also seen a 116% increase in the last seven days. The token currently has a market cap of $3.49 billion.

Subtitle: CoinGecko

BONK is currently the second largest Solana (SOL) meme coin behind dogwifhat (WIF).

BONK DAO BURNmas SUPER yarn

Mission: Burn 1 Trillion $BONK until christmas

The campaign includes BONK burning transactions based on certain participation criteria.

Here’s how you can help The Dog with the largest on-chain community-driven burn event in Solana history👇 pic.twitter.com/tcSY5W3vd9

— BONK!!! (@bonk_inu) 15 November 2024

BONK’s BURNmas campaign details

BONK DAO introduced “BURNmas”. The project described this as the largest on-chain community-driven burn in Solana history.

The campaign will run from 12:01 UTC on November 15 until December 24, and the accumulated tokens are planned to be burned at 12:01 UTC on Christmas Day.

The burn initiative introduces multiple interaction-based criteria for token burns.

Social media engagement will trigger the burning of 1,000 BONK for every #LetsBONK post on X. At the same time, new followers on Instagram, TikTok and YouTube will result in burning 10,000 BONK per platform. The campaign covers various ecosystem activities.

BONK has established itself as an important meme coin in the Solana ecosystem, with a market cap of $3.49 billion, just behind Dogwifhat’s $3.75 billion valuation.

DAO’s burning initiative spans many platforms and activities within the BONK ecosystem, including gaming, social media and trading activities.

BONK burn mechanism malfunction

The program includes various write triggers on different platforms:

BaoBao Team Animation views: 10,000 BONK per view BONKbets platform: 50,000 BONK per bet BONKmark transfers: 50,000 BONK per card sent Moonwalk fitness game: 100 BONK per step New BERN holders: 100,000 BONK per holder (minimum 10,000 BERN) BONKlive and Saturnbot trading: 50,000 BONK per dollar traded

The initiative’s progress can be tracked in real time via BURNmas.com, allowing community members to monitor the impact of the campaign as it approaches its Christmas Day climax.

Burning activities are often used by various projects, including breast coins such as Shiba Inu (SHIB), to reduce their circulating supply.