## Bonk to Burn $54.52 Million Worth of BONK Solana-based meme coin Bonk (BONK) has announced plans to burn 1.69 trillion BONK ($54.52 million at the time of writing) through a multi-sig vote by the BONK DAO. This burn represents approximately 1.8% of BONK's total supply. The burn is scheduled to take place on February 21st, 2023. The BONK team says that the burn is intended to "reduce the circulating supply of BONK and increase its value." It is not yet clear how the burn will affect the price of BONK. However, the announcement has been met with positive sentiment from the BONK community. BONK is a Solana-based meme coin that was launched in December 2022. It has quickly gained popularity, reaching a market capitalization of over $1 billion at one point. The BONK team has been praised for its marketing efforts and community engagement. It remains to be seen whether the BONK burn will be successful in increasing the value of the coin. However, the team's commitment to the project is clear, and the burn is a sign that they are serious about making BONK a long-term success. ```

#BONK