$BONK rises over 12% as community accepts token burn

BONK gained 77% weekly after token burn proposal and Revolut listing.

Even when the market fell, BONK gained 12% on Wednesday.

In the last week, meme-themed tokens have surged, suggesting a meme currency frenzy.

Bonk (BONK) rose 12% on Wednesday as other cryptocurrencies fell. BONK's spectacular surge following a community-approved token burn request and growing meme currency interest.

BONK and other Solana viral currencies boomed during the early March meme mania. After the early April crypto market slump, the dog-themed cryptocurrency plummeted.

BONK rose over 77% in the week after the fourth Bitcoin halving over the weekend.

The Bitcoin halving helped numerous meme currencies soar, but BONK's price rose due to significant events. BONK DAO planned to burn almost 280 billion BONK from its Treasury. They "represent 100% of the BONK earned by BONK DAO from its revenue sharing agreement with BONKBot since its launch in late 2023," claimed BONK. BONK rose sharply following the news.

Token burning are positive because their supply contraction might cause a price gain if demand remained or increased. The council voted to enable all BONK holders to vote on Wednesday. BONK DAO said on X, "The community vote ended with 418,625,159,192 votes in favor, which represented a 99.9% support of the proposal."

BONK rose over 12% in 24 hours after the plan was approved. While the crypto market fell, BONK still made money on Wednesday.

Listing on European Fintech business Revolut may have helped BONK's success by exposing it to its 40 million consumers.

BONK rallies with others. Several meme currencies have had substantial price rises due to important integrations.

WIF rose 6% today and 31.6% last week. Following WIF's permanent futures listing on Coinbase International Exchange, Coinbase rose Thursday. Meme currencies like Floki (FLOKI), Pepe (PEPE), Shiba Inu , and Book of Meme (BOME) all gained heavily this week. Meme sector interest has surged, suggesting a meme coin frenzy may resume.

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