$BONK: Could Meme Coin’s “BURNmas” Event Spark a 300,000% Price Explosion?
$BONK: Could Meme Coin’s “BURNmas” Event Spark a 300,000% Price Explosion?
The popular BONK coin is preparing for the long-awaited “BURNmas” event, where a trillion BONK tokens will be burned 🔥 by Christmas. This massive token burn could lead to a massive price surge 📈, with some predictions suggesting a 300,000% increase.
🔴Current market performance:
BONK is up 0.5% in the past 24 hours, reaching $0.00003175, although the overall cryptocurrency market is down 1%.
🟣BURNmas effect:
The BONK DAO is planning to burn at least 🔥 trillion tokens by December 25, which could lead to a significant price surge. BURNmas tracker predicts 1.6 trillion BONK🔥 tokens will be burned, and the inventor claims the long-term price target is $0.11.
🟣Community participation:
BONK DAO team and community members are encouraged✅ to promote the token during BURNmas. For every#LetsBONKtweet, 100,000 BONK tokens will be burned🔥.
🔵Technical analysis:
BONK charts are pointing to a potential intermediate bottom📉, with the RSI rising again after dropping to near 30. The 30 period average may have completed its decline📉 compared to the 200 period average, which could lead to a rally📈 above the long-term indicator.
🔴Price expectations:
Some predictions suggest that BONK could recover to $0.000050 by Q1 2025 and $0.00010 by Q2. However, these predictions are subject to market volatility and the success of the BURNmas event.
✅Will BONK's "BURNmas" Event Cause a Massive Price Explosion?
Only time will tell.