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BONK Drops 7% Despite $51 Million Worth of Tokens Burned During BURNmas
Memecoin Bonk, inspired by dog-themed memes, faces a significant decline despite a massive token burn event that removed 1.69 trillion tokens worth over $51 million from circulation. The event, known as BURNmas, failed to prevent the cryptocurrency's price drop.
Delayed BURNmas Execution
The Bonk team originally planned to conduct the token burn on Christmas Day, December 25, but delays pushed the event to the following day, December 26. The initiative was part of a marketing campaign that included:
Burning 1,000 BONK tokens for every post on the X platform (formerly Twitter) with the hashtag #LetsBONK.Burning 10,000 BONK tokens for every new follower on Instagram and TikTok.
Initially set to burn 1 trillion tokens, the community's support allowed the burn to reach 1.69 trillion tokens, representing 1.85% of the total supply, which now stands at 90.97 trillion tokens, according to CoinGecko data.
Why Is BONK's Price Falling?
Token burns are typically employed as a strategy to increase value by reducing supply. However, BONK has failed to replicate its November success, where a similar event saw prices soar by 56% and market capitalization reach an all-time high of $4.38 billion.
Following the December 26 burn event, BONK's price dropped by 7.2%, amid a broader market decline. Its market capitalization now stands at $2.3 billion.
Community Frustration
The delay in the BURNmas event has sparked frustration within the BONK community. Some users voiced concerns over the team's lack of communication.
A user on X, BestBets, directed criticism toward a Bonk team member known as “Nom”:
“Prices keep dropping because you guys don't keep your word and fail to communicate,” said BestBets.
“Lying to the community will cost you progress and coin holders,” added another user, PootieCoin.
BONK Still Among Top Memecoins
Despite the decline, BONK remains the fourth-largest memecoin by market capitalization, totaling over $105 billion. Its competitors include Dogecoin, Shiba Inu, and Pepe, according to CoinGecko data.
#Bonk , #Memecoins🤑🤑 , #CryptoNewss , #burning , #PricePredictions2024
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Delayed BURNmas Execution
The Bonk team originally planned to conduct the token burn on Christmas Day, December 25, but delays pushed the event to the following day, December 26. The initiative was part of a marketing campaign that included:
Burning 1,000 BONK tokens for every post on the X platform (formerly Twitter) with the hashtag #LetsBONK.Burning 10,000 BONK tokens for every new follower on Instagram and TikTok.
Initially set to burn 1 trillion tokens, the community's support allowed the burn to reach 1.69 trillion tokens, representing 1.85% of the total supply, which now stands at 90.97 trillion tokens, according to CoinGecko data.
Why Is BONK's Price Falling?
Token burns are typically employed as a strategy to increase value by reducing supply. However, BONK has failed to replicate its November success, where a similar event saw prices soar by 56% and market capitalization reach an all-time high of $4.38 billion.
Following the December 26 burn event, BONK's price dropped by 7.2%, amid a broader market decline. Its market capitalization now stands at $2.3 billion.
Community Frustration
The delay in the BURNmas event has sparked frustration within the BONK community. Some users voiced concerns over the team's lack of communication.
A user on X, BestBets, directed criticism toward a Bonk team member known as “Nom”:
“Prices keep dropping because you guys don't keep your word and fail to communicate,” said BestBets.
“Lying to the community will cost you progress and coin holders,” added another user, PootieCoin.
BONK Still Among Top Memecoins
Despite the decline, BONK remains the fourth-largest memecoin by market capitalization, totaling over $105 billion. Its competitors include Dogecoin, Shiba Inu, and Pepe, according to CoinGecko data.
#Bonk , #Memecoins🤑🤑 , #CryptoNewss , #burning , #PricePredictions2024
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
📣 Big News ! 🧭
🦊 Shiba Inu BURNING 🔥
🐶 Floki Inu BURNING 🔥
📣 Kusama Speaks on Burning 1 Trillion Shiba Inu Tokens
🐕 While Shiba Inu (SHIB) and Floki Inu (FLOKI) are burning tokens like wildfire, there's talk about the difference in the amounts burned by each project.
🔴 Claim Free Airdrop
👨💻 Shiba Inu's lead developer, Shytoshi Kusama, explained why they can't match Floki's trillion-token burn. He highlighted Shiba's decentralized nature and his focus on benefiting the community rather than just burning tokens for the sake of it.
🚀 Floki Inu has made waves with its recent burn of over 200 billion tokens, pushing its price to new heights. Despite the difference in burn quantities, both FLOKI and SHIB prices have soared, showing the community's excitement and support for these projects.
💪 Whether it's trillions or billions, both projects are igniting excitement in the crypto world and proving the strength of community-driven initiatives.
🔥 Keep holding, keep burning, and let's see where the meme coin frenzy takes us next! 🚀
claim Free Reward 🔥
#HotTrends #trendingtopic $SHIB $FLOKI #burning
🦊 Shiba Inu BURNING 🔥
🐶 Floki Inu BURNING 🔥
📣 Kusama Speaks on Burning 1 Trillion Shiba Inu Tokens
🐕 While Shiba Inu (SHIB) and Floki Inu (FLOKI) are burning tokens like wildfire, there's talk about the difference in the amounts burned by each project.
🔴 Claim Free Airdrop
👨💻 Shiba Inu's lead developer, Shytoshi Kusama, explained why they can't match Floki's trillion-token burn. He highlighted Shiba's decentralized nature and his focus on benefiting the community rather than just burning tokens for the sake of it.
🚀 Floki Inu has made waves with its recent burn of over 200 billion tokens, pushing its price to new heights. Despite the difference in burn quantities, both FLOKI and SHIB prices have soared, showing the community's excitement and support for these projects.
💪 Whether it's trillions or billions, both projects are igniting excitement in the crypto world and proving the strength of community-driven initiatives.
🔥 Keep holding, keep burning, and let's see where the meme coin frenzy takes us next! 🚀
claim Free Reward 🔥
#HotTrends #trendingtopic $SHIB $FLOKI #burning
Hello everyone
🚨breaking news🚨
#BINANCE burned 1.4 Billion of $LUNC
#WEEX burned 5.1 Milion of LUNC
Those amounts are related to April
As you know those amounts are less than expected because in April the volume of trading was low due to BTC halving, Middle East crisis and FED decision of cutting interest percentage
All crypto are down following BTC as always and this is clear, but a bullrun is near
Always thanks to the #Community for keep going and supporting the #burning of LUNC
Please share the message 🙏🫶
Let's gooo, be positive 💪💪💪🚀🚀🚀
#roadto1usd
🚨breaking news🚨
#BINANCE burned 1.4 Billion of $LUNC
#WEEX burned 5.1 Milion of LUNC
Those amounts are related to April
As you know those amounts are less than expected because in April the volume of trading was low due to BTC halving, Middle East crisis and FED decision of cutting interest percentage
All crypto are down following BTC as always and this is clear, but a bullrun is near
Always thanks to the #Community for keep going and supporting the #burning of LUNC
Please share the message 🙏🫶
Let's gooo, be positive 💪💪💪🚀🚀🚀
#roadto1usd
$BTTC Queima 🔥🔥🔥 sai deste corpo que não te pertence!!! Assim como no Museu Ipiranga houve a algum tempo atrás queimas e destrosos e depois uma grande REFORMA no patrimônio Público, assim teriam que ser este $BTTC haja paciência na minha cabecinha🧠, espero que esta Cripto não vire obra de Museu estilo Mona Lisa, Povão sera que este BTTC sera a próxima obra da Mona lisa?? Denominado: "BTTC Lisa*, kkkkkk
#monalisa #bttc🔥🔥🔥 #BTTCLOVERSclack #BinanceSquareFamily #burning
$BTC
#monalisa #bttc🔥🔥🔥 #BTTCLOVERSclack #BinanceSquareFamily #burning
$BTC
$LUNC 🚨Breaking New🚨
The amount burned by tax reached 6 Billion and the day is not finish yet
In my opinion today is possible to reach 10 Billion burned by tax
I always said, more volume = more #burning
Imagine what amount #Binance will burn with this kind of volume 🚀🚀🚀
The #lunc holders are not going in panic
Our goal is to reduce the total supply
The trader can do what they want
#roadto1usd
Someone time ago said:
The amount burned by tax reached 6 Billion and the day is not finish yet
In my opinion today is possible to reach 10 Billion burned by tax
I always said, more volume = more #burning
Imagine what amount #Binance will burn with this kind of volume 🚀🚀🚀
The #lunc holders are not going in panic
Our goal is to reduce the total supply
The trader can do what they want
#roadto1usd
Someone time ago said:
КАК ЦЕНА BINANCE COIN (BNB) ОТРЕАГИРУЕТ НА СЖИГАНИЕ ТОКЕНОВ СТОИМОСТЬЮ $1 МЛРД ?
1 ноября BNB Chain объявила о завершении 29-го квартального сжигания, что привело к уменьшению общего объема криптовалюты.
Важное событие, похоже, значительно повлияло на настрой быков BNB. Разбираемся с помощью ончейн-метрик и технических индикаторов, хватит ли у них сил на то, чтобы начать полноценное ралли.
Инвесторы снова заинтересовались Binance Coin
BNB Chain объявила о сжигании 1,77 млн BNB стоимостью более $1 млрд. Сжигание токенов способствует уменьшению общего предложения, что потенциально поддерживает бычий настрой держателей актива.
Событие заметно повлияло на активность инвесторов. На графике ниже показано, что показатель Balance of Power (BoP) вырос после сжигания, что указывает на улучшение настроений среди участников рынка.
Показатель Weighted Sentiment, отражающей общее отношение рынка к криптовалюте, также демонстрирует рост. Это означает, что большинство инвесторов верят в положительную динамику BNB, что может способствовать росту спроса на альткоин.
#BNB #Binance #burning $BNB
1 ноября BNB Chain объявила о завершении 29-го квартального сжигания, что привело к уменьшению общего объема криптовалюты.
Важное событие, похоже, значительно повлияло на настрой быков BNB. Разбираемся с помощью ончейн-метрик и технических индикаторов, хватит ли у них сил на то, чтобы начать полноценное ралли.
Инвесторы снова заинтересовались Binance Coin
BNB Chain объявила о сжигании 1,77 млн BNB стоимостью более $1 млрд. Сжигание токенов способствует уменьшению общего предложения, что потенциально поддерживает бычий настрой держателей актива.
Событие заметно повлияло на активность инвесторов. На графике ниже показано, что показатель Balance of Power (BoP) вырос после сжигания, что указывает на улучшение настроений среди участников рынка.
Показатель Weighted Sentiment, отражающей общее отношение рынка к криптовалюте, также демонстрирует рост. Это означает, что большинство инвесторов верят в положительную динамику BNB, что может способствовать росту спроса на альткоин.
#BNB #Binance #burning $BNB
Hello everyone
I will just let you know that the total amount to BURN $LUNC (already considered the 10B target) is:
At current price are 1.018.969.343,7999 USD
For someone is huge amount, but considering that #binance and #WEEX are burning, is really possible and also there are so many people that #burning daily 🤗
Can you imaging that 1 Milion people buy 1000$ of #lunc and burn it? 😍
Nothing is impossible
Stay positive 💪
#terraclassic #community
I will just let you know that the total amount to BURN $LUNC (already considered the 10B target) is:
At current price are 1.018.969.343,7999 USD
For someone is huge amount, but considering that #binance and #WEEX are burning, is really possible and also there are so many people that #burning daily 🤗
Can you imaging that 1 Milion people buy 1000$ of #lunc and burn it? 😍
Nothing is impossible
Stay positive 💪
#terraclassic #community
$SHIB I believe shiba and #pepe hve the nxt potential of reaching 1 dollar in less than 5yrs and just imagine the market caps of both each a trillion i guess that's what all crypto gurus say but they are so low because #burning is the prime factor we are really on the right truck to our success but this gurus will tell you different approaches for this two tokens but wait until half of the total supply of this tokens are burnt you may never ever and i mean ever believe how wise your decision was hodl and wait for the burns its just going to be perfect time may trick you to sale but patience is virtue just imagine bitcoin in 2013 you wouldn't believe it would be what it is well I tell you meme tokens are the way to go not btc its too late
🔺🔺$FLOKI ____🔥 for FLOKI updates ⏫️⏫️⏫️
Floki: More than 1.737 billion FLOKI tokens were burned last week, worth more than $404,000
FLOKI - BUY
Reason: The recent token burn by Floki indicates a reduction in supply, which could potentially drive up the price due to increased scarcity.
Signal strength: HIGH
Signal time: 2024-03-24 17:25:13 GMT
#FLOKI🔥 #burning #FLOKI/USDT #FLOKIUSDT #SignalAlert
Always DYOR. It’s not a financial advice, but our POV on the most likely asset move amid the event. What’s yours?
Floki: More than 1.737 billion FLOKI tokens were burned last week, worth more than $404,000
FLOKI - BUY
Reason: The recent token burn by Floki indicates a reduction in supply, which could potentially drive up the price due to increased scarcity.
Signal strength: HIGH
Signal time: 2024-03-24 17:25:13 GMT
#FLOKI🔥 #burning #FLOKI/USDT #FLOKIUSDT #SignalAlert
Always DYOR. It’s not a financial advice, but our POV on the most likely asset move amid the event. What’s yours?
Hello everyone
Just remember that on 1st May #Binance and #WEEX they will release the data of #burning of $LUNC
The #Community is giving a lot of support for the burning and we need to implement it to achieve our target of 1$
take in mind that there are people that bought SHIBA and PEPE that have a more tokens on circulation than LUNC and just check their market cup.
if is possible for them, for sure is possible for LUNC
All together we can make it
LUNC is not dead, just believe and we can make it happen
As I said, all together with the support of BINANCE and WEEX we can burn it
At this price the total value of burning it's around 700 Milion of USD
Take in mind that there are more than 5 Milion of address that have LUNC, so to implement the BURNING is very possible
if you like, share the message also to those people that use other exchanges platform
We are strong 💪
Never give up 🚀🚀🚀
#roadto1usd
Just remember that on 1st May #Binance and #WEEX they will release the data of #burning of $LUNC
The #Community is giving a lot of support for the burning and we need to implement it to achieve our target of 1$
take in mind that there are people that bought SHIBA and PEPE that have a more tokens on circulation than LUNC and just check their market cup.
if is possible for them, for sure is possible for LUNC
All together we can make it
LUNC is not dead, just believe and we can make it happen
As I said, all together with the support of BINANCE and WEEX we can burn it
At this price the total value of burning it's around 700 Milion of USD
Take in mind that there are more than 5 Milion of address that have LUNC, so to implement the BURNING is very possible
if you like, share the message also to those people that use other exchanges platform
We are strong 💪
Never give up 🚀🚀🚀
#roadto1usd
Hello everyone
To those ignorant that sometime offending me commenting my post
I never promote any crypto
There is a big difference between Supporting and Promoting
Yes I'm #Holding $LUNC and supporting it with the #Community and giving my effort in #burning when I can
Just for example I posting this snapshot to make someone to understand why I'm supporting Lunc
Shiba market cap 14 Billion with 589 TRILLION
LUNC market cap 610 Milion with 6.7 TRILLION
watch which price LUNC can get with that market cap
#roadto1usd
To those ignorant that sometime offending me commenting my post
I never promote any crypto
There is a big difference between Supporting and Promoting
Yes I'm #Holding $LUNC and supporting it with the #Community and giving my effort in #burning when I can
Just for example I posting this snapshot to make someone to understand why I'm supporting Lunc
Shiba market cap 14 Billion with 589 TRILLION
LUNC market cap 610 Milion with 6.7 TRILLION
watch which price LUNC can get with that market cap
#roadto1usd
$LUNC 🚨🚨🚨Breaking News🚨🚨🚨
#Binance burned 1.7 Billion in 23rd batch related from 1st to 30th June
Now the total supply is 6.78 T
The total #burning touch 125.5 Billion of #lunc
Probably more news are coming in this month, because community is waiting for TFL action of burning
Always said, more volume = more burning
#roadto1usd Let's go 🚀🚀🚀
#Binance burned 1.7 Billion in 23rd batch related from 1st to 30th June
Now the total supply is 6.78 T
The total #burning touch 125.5 Billion of #lunc
Probably more news are coming in this month, because community is waiting for TFL action of burning
Always said, more volume = more burning
#roadto1usd Let's go 🚀🚀🚀
600M GMT Burned 😱😱 1000X Loading?
Recently the GMT team repurchased 600 million GMT tokens for $100 million and allocated them to the BURNGMT plan, indicating their firm commitment to the ecosystem. This decision not only indicates their confidence in GMT’s long-term stability but also shows the strength and importance of the project. Here's why participating in this event matters and how it benefits the ecosystem and its community.
Importance Of BURNGMT Event
The 600 million #GMT tokens that are 10% of the total supply, belong to early advisor, team, and investor allocations. These tokens, unlocked in the past, are now placed under a 60-day voting lock-up, giving opportunity to the community to decide their fate. If the majority votes to burn these tokens, it would significantly reduce the circulating supply, which can become the cause of increasing scarcity and, in turn, value.
Must Participate in the BURNGMT Event:
1. Active Governance: By voting, participants actively shape GMT’s future. The event indicates the decentralization ethos, letting users make critical decisions.
2. Attractive Rewards: Participants share in a pool of 100 million $GMT as staking rewards, with daily interest settled at 8 a.m. Hong Kong time. Early stakers gain higher yields, making it a biggest opportunity for long-term believers.
3. Ecosystem Strength: #Burning these tokens would further solidify the project’s sustainability by reducing inflation and aligning supply with real-world use cases.
The #BURNGMT event isn't just about burning tokens; it’s a community-driven effort to shape the GMT ecosystem. Participating in this maga endeavor shows your commitment to shaping a thriving, robust future for GMT. The question is: Will you catch this opportunity to make history with GMT?
Recently the GMT team repurchased 600 million GMT tokens for $100 million and allocated them to the BURNGMT plan, indicating their firm commitment to the ecosystem. This decision not only indicates their confidence in GMT’s long-term stability but also shows the strength and importance of the project. Here's why participating in this event matters and how it benefits the ecosystem and its community.
Importance Of BURNGMT Event
The 600 million #GMT tokens that are 10% of the total supply, belong to early advisor, team, and investor allocations. These tokens, unlocked in the past, are now placed under a 60-day voting lock-up, giving opportunity to the community to decide their fate. If the majority votes to burn these tokens, it would significantly reduce the circulating supply, which can become the cause of increasing scarcity and, in turn, value.
Must Participate in the BURNGMT Event:
1. Active Governance: By voting, participants actively shape GMT’s future. The event indicates the decentralization ethos, letting users make critical decisions.
2. Attractive Rewards: Participants share in a pool of 100 million $GMT as staking rewards, with daily interest settled at 8 a.m. Hong Kong time. Early stakers gain higher yields, making it a biggest opportunity for long-term believers.
3. Ecosystem Strength: #Burning these tokens would further solidify the project’s sustainability by reducing inflation and aligning supply with real-world use cases.
The #BURNGMT event isn't just about burning tokens; it’s a community-driven effort to shape the GMT ecosystem. Participating in this maga endeavor shows your commitment to shaping a thriving, robust future for GMT. The question is: Will you catch this opportunity to make history with GMT?
#flokiinu Takes Off! Burns Tokens and Soars 455% This Month
Floki Inu (FLOKI), a popular memecoin, has been on fire lately! Not only has the price gone up a whopping 455% so far this month (March 2024), but the project has also been burning a massive amount of tokens, potentially contributing to the price surge.
Burning tokens? What's that?
Imagine you have a collection of rare trading cards. Burning tokens is like taking some of those cards and taking them out of circulation forever. This can make the remaining cards rarer and potentially more valuable.
Floki Inu burned over 14.5 billion tokens in the last week alone! That's a lot of FLOKI disappearing, which could be a reason why the price has been climbing.
But there's more to the story...
The recent surge in Bitcoin's price (reaching a new high near $72,000 on March 11th) has created a positive mood among investors, and memecoins like Floki Inu have benefited from this overall bullish sentiment.
Floki Party Time... or maybe not?
The price did see some profit-taking on March 11th after its incredible rally. This is normal, as some investors might choose to cash in on their gains.
What's next for Floki Inu?
It's hard to say for sure. The cryptocurrency market is known for its ups and downs. But one thing's for certain: Floki Inu has made a splash this month with its token burns and impressive price gains.
Stay tuned to Binance Square for the latest updates on Floki Inu and other exciting crypto projects!
Want more crypto insights? Follow me, Rose Williams, for daily breakdowns and analysis!
#Flokibullish
#memecoin
#burning
#HotTrends
Floki Inu (FLOKI), a popular memecoin, has been on fire lately! Not only has the price gone up a whopping 455% so far this month (March 2024), but the project has also been burning a massive amount of tokens, potentially contributing to the price surge.
Burning tokens? What's that?
Imagine you have a collection of rare trading cards. Burning tokens is like taking some of those cards and taking them out of circulation forever. This can make the remaining cards rarer and potentially more valuable.
Floki Inu burned over 14.5 billion tokens in the last week alone! That's a lot of FLOKI disappearing, which could be a reason why the price has been climbing.
But there's more to the story...
The recent surge in Bitcoin's price (reaching a new high near $72,000 on March 11th) has created a positive mood among investors, and memecoins like Floki Inu have benefited from this overall bullish sentiment.
Floki Party Time... or maybe not?
The price did see some profit-taking on March 11th after its incredible rally. This is normal, as some investors might choose to cash in on their gains.
What's next for Floki Inu?
It's hard to say for sure. The cryptocurrency market is known for its ups and downs. But one thing's for certain: Floki Inu has made a splash this month with its token burns and impressive price gains.
Stay tuned to Binance Square for the latest updates on Floki Inu and other exciting crypto projects!
Want more crypto insights? Follow me, Rose Williams, for daily breakdowns and analysis!
#Flokibullish
#memecoin
#burning
#HotTrends
Many friends asked me about the #burning process, I asked artificial intelligence to answer this question. this is the answer of #AI .
Burning in cryptocurrency means sending a token to an inaccessible address, effectively removing it from circulation. This can reduce the supply and increase the value of the remaining tokens.
$BTC $LUNC #Write2Earn #Burnlunc
Burning in cryptocurrency means sending a token to an inaccessible address, effectively removing it from circulation. This can reduce the supply and increase the value of the remaining tokens.
$BTC $LUNC #Write2Earn #Burnlunc
#Shibirium #burning #RATES #YEAR
how much will it cost to burn a trillion SIBA INU tokens???
is it possible to burn 100 trillion SIBA INU in a year??#MemecoinMadness
how much will it cost to burn a trillion SIBA INU tokens???
is it possible to burn 100 trillion SIBA INU in a year??#MemecoinMadness
$required ≤1 trillion
100%
$required >1 trillion
0%
Not possible
0%
1 glasov • Glasovanje zaključeno
hello everyone
$LUNC have reached 5.5 million of holder
calculate if each holder send 100$ of #lunc to the #burning address
I will tell you:
at this price the equivalent of 100$ in LUNC is : 770.000 thousands of LUNC
multiple 770.000 LUNC for 5.5 Million HOLDERS
Did you see how much we can #burn if we want?
Let's go, nothing is impossible
#roadto1usd
$LUNC have reached 5.5 million of holder
calculate if each holder send 100$ of #lunc to the #burning address
I will tell you:
at this price the equivalent of 100$ in LUNC is : 770.000 thousands of LUNC
multiple 770.000 LUNC for 5.5 Million HOLDERS
Did you see how much we can #burn if we want?
Let's go, nothing is impossible
#roadto1usd