👀👀BONK Leads Meme Coin Rally with a Target of One Trillion! Will It Continue? 👀👀

Dog-themed meme coins have had a weak start to the week, despite gaining up to 30 percent over the weekend.

BONK, one of the largest meme coins, gained 30 percent over the weekend. Dogecoin (DOGE), Shiba Inu (SHIB), Dogwifhat (WIF), and Floki (FLOKI) rose up to 20 percent.

BONK’s burn strategy was effective$BONK

The deflationary approach, in which the BONK team reduced the token supply, was welcomed by the crypto community. BonkDAO, which supports the project, burned 100 billion tokens from the circulating supply in November and announced that it aims to burn another trillion tokens in December. This strategy may have created an expectation that the token would become scarce and its price would increase in the future.

FLOKI on the CFTC's radar$FLOKI

On the other hand, the US Commodity Futures Contracts Commission (CFTC) evaluated FLOKI as a utility token along with Ethereum and Avalanche in its meeting last month. B, one of Floki's developers, stated that this development was an important step for FLOKI, saying, "Floki's metaverse game called Valhalla will be released in the first quarter and the recently launched Floki trading bots have collected more than a million dollars in transaction fees." According to this anonymous source, this situation has made FLOKI an important feature that sets it apart from other meme coins.

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