Bonk ($BONK ) is a cryptocurrency that implements token burning mechanisms to reduce its supply and potentially increase its value. These burn events permanently remove a specific amount of tokens from circulation.

Recently, BonkDAO announced the burning of over 1.6 billion BONK tokens, equivalent to approximately $53.5 million, as part of its holiday “BURNmas” campaign. This burn represents about 1.8% of the total BONK supply, which is approximately 92.7 billion tokens.

In previous events, the BONK community has conducted significant burns. For example, in April, 278 billion tokens were burned, resulting in a 40% increase in the price of BONK in less than 24 hours.

Additionally, in July 2024, the burning of 84 billion tokens from the project treasury was approved, with the aim of reducing the circulating supply and improving the scarcity of the token.

These burning strategies seek to decrease the supply of BONK in circulation, creating deflationary pressure that could increase the value of the remaining tokens. However, it is important to note that the actual impact on price depends on various market factors and is not guaranteed.