$BONK
BONK, one of the top five memecoins by market cap, is surging as it prepares for a big token burn event. However, the burn might not meet expectations.
The price of BONK has nearly doubled in the past week, making it the third-best-performing memecoin among the top 25 by market cap. It’s now the 39th largest cryptocurrency, with a $3.53 billion market value, according to CoinGecko.
BONK’s recent growth is tied to its BURNMas campaign, where it plans to burn 1 trillion tokens (worth $50.9 million) on Christmas Day. During the campaign, tokens will be burned whenever users interact with BONK’s ecosystem, such as trading on its platforms, tweeting about it, or following its social channels. Each action will result in a set number of tokens being burned.