Bonk Inu ($BONK ) has gained 0.5% in the past 24 hours, reaching $0.00003175, even as the broader cryptocurrency market experienced a 1% decline. Despite this uptick, the meme token has seen a 12% drop over the past week, a 31% decline in the last month, and remains 45% below its all-time high of $0.00005825 from November 20. However, Bonk’s “BURNmas” initiative, led by its decentralized autonomous organization (DAO), could set the stage for a strong recovery.

The DAO has announced plans to burn at least 1 trillion BONK by December 25, with current projections suggesting as much as 1.6 trillion tokens could be removed from circulation. This event, aimed at increasing scarcity, has been heavily promoted since a November 15 blog post, with the DAO committing to burn 100,000 BONK for every #LetsBONK tweet during this period. Although the anticipated burn represents only 1.7% of the total supply and 2.2% of circulating tokens, the community has exceeded initial expectations, suggesting strong engagement.

While BONK's price hasn't seen significant movement during BURNmas, technical indicators hint at a potential bottoming-out phase. The token's Relative Strength Index (RSI) has rebounded from oversold territory, while its 30-period moving average is poised to cross above its 200-period moving average, signaling a possible bullish trend reversal. Although BONK’s daily trading volume, currently around $300 million, remains subdued compared to November’s highs, broader market catalysts, such as the anticipated inauguration of Donald Trump and potential crypto-friendly regulatory developments, could provide a tailwind. Analys forecast BONK may recover to $0.000050 in early 2025 and possibly reach $0.00010 by mid-year.

The combination of aggressive token burns, community-driven promotions, and favorable market conditions could position BONK for a major rebound. Whether it achieves its ambitious $0.11 long-term price target remains uncertain, but the meme coin’s dedicated following and innovative strategies make it one to watch.

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