BONK Targets 1 Trillion Burn by Christmas—Could Prices Explode 300,000%?

Bonk has increased 0.5% in 24 hours to $0.00003175 while the cryptocurrency market dips 1% today.

The meme currency has fallen 12% in a week, 31% in a month, and 45% from its November 20 all-time high of $0.00005825.

With its DAO planning to burn at least 1 trillion BONK by December 25 for its ‘BURNmas’ celebration, Bonk may be making a return.

The BURNmas tracker currently predicts 1.6 trillion BONK will burn, and its inventor claims $0.11 is its long-term price objective.

In addition to burning, Bonk's DAO and team are urging community members to promote the token during BURNmas, which was revealed in a November 15 blog post.

Bonk DAO burns 100,000 BONK for every #LetsBONK tweet during BURNmas.

With 1.6 trillion BONK expected burn, the community seems to be surpassing expectations.

This represents 1.7% of BONK supply and 2.2% of circulation.

This may explain why the BONK price hasn't responded to BURNmas given these tiny amounts.

It's fallen with the market's post-election rally hangover.

Today, BONK's chart shows that its RSI (purple) is rising again after dropping close to 30 a few days ago, suggesting an intermediate bottom.

The coin's 30-period average (orange) may have completed decreasing relative to the 200-period average (blue), and it may rise above the longer-term indicator in the next days and weeks.

BONK's $300 million trading volume is low compared to November's peaks, which is concerning.

The inauguration of Donald Trump next month might boost the market, and crypto-friendly legislation may follow.

BONK may rebound to $0.000050 by Q1 2025 and $0.00010 by Q2.

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