๐จ๐จ๐๐๐๐โ๐ฌ ๐๐๐๐๐ฆ๐๐ฌ ๐๐ฎ๐ฌ๐ก: ๐ ๐๐ซ๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐๐จ๐ค๐๐ง ๐๐ฎ๐ซ๐ง ๐๐ฒ ๐๐ก๐ซ๐ข๐ฌ๐ญ๐ฆ๐๐ฌ โ ๐๐๐ง ๐๐ซ๐ข๐๐๐ฌ ๐๐ค๐ฒ๐ซ๐จ๐๐ค๐๐ญ?๐จ
$BONK , the meme-inspired cryptocurrency, has seen a modest 0.5% increase in the past 24 hours, currently trading at $0.00003175, despite the broader crypto market experiencing a 1% dip. However, the token remains down by 12% over the past week, 31% for the month, and a staggering 45% from its November 20 peak of $0.00005825.
As part of its "BURNmas" initiative, BONKโs DAO has announced plans to burn at least 1 trillion tokens by December 25, with projections now suggesting the burn could reach 1.6 trillion BONK. This initiative, aimed at bolstering the tokenโs value, has the community rallying behind the cause, incentivized by activities such as burning 100,000 BONK for every tweet with the hashtag #LetsBONK. While this burn represents just 1.7% of $BONK โs total supply and 2.2% of its circulating supply, itโs a symbolic move that may reinvigorate investor sentiment.
Technically, BONKโs charts signal a potential recovery. The RSI is bouncing back from oversold levels, while the 30-period moving average appears to be stabilizing relative to the 200-period average. Despite a concerning drop in trading volume compared to Novemberโs highs, these indicators hint at a possible upward trajectory in the coming weeks. Optimists in the community speculate that BONK could reclaim $0.000050 by early 2025, with a stretch target of $0.00010 by mid-year.
Although the current burn and promotional activities havenโt yet ignited significant price movements, factors like an expected market resurgence tied to broader political and legislative developments in early 2025 could provide the catalyst $BONK needs. For now, the cryptoโs loyal community is betting on its long-term potential, with some daring to dream of its ambitious price goal of $0.11.
