For BONK to reach a price of $0.1, it would require a significant reduction in its total supply through token burning. Estimates suggest that tens of trillions of tokens would need to be burned, which poses logistical challenges given the current market dynamics and the massive supply of BONK coins. Current Market Dynamics
Circulating Supply: BONK Coin has a circulating supply of approximately 66 trillion tokens, with a maximum supply nearing 93.5 trillion.
Market Capitalization Requirement: To achieve a price of $0.1, BONK would need a market capitalization of around $10 trillion, which is significantly higher than the current market caps of major cryptocurrencies like Bitcoin and Ethereum combined.
Token Burn Strategy
Aggressive Burns Needed: Recent burn campaigns, such as the planned burning of 1 trillion tokens by Christmas 2024, are steps in the right direction, but the scale of burns required to reach $0.1 would need to be extraordinarily large.
Example Calculation: If BONK's circulating supply were reduced to around 100 trillion tokens through aggressive burns, achieving a price of $0.1 would still necessitate a market cap that exceeds current realistic valuations.
Challenges to Achieving $0.1
Adoption and Utility: For BONK to reach $0.1, there must be a significant increase in adoption and practical use cases, which are currently lacking.
Market Sentiment: The price of BONK is heavily influenced by market sentiment and trends, making it susceptible to volatility and speculative trading.
Conclusion
Unrealistic Without Major Changes: Achieving a price of $0.1 for BONK Coin is highly improbable without drastic reductions in supply through extensive token burns, massive adoption, and a fundamental shift in market dynamics.
