BonkDAO’s 1.69 trillion token burn: Will it affect BONK’s price?
BonkDAO’s token burn reduced supply by 1.8%, yet BONK faced resistance at $0.00003517. Market sentiment remained bearish, with high short interest and weak technical indicators for BONK. BonkDAO’s decision to burn 1.69 trillion Bonk [BONK] tokens as part of the “BURNmas” event has grabbed attention in the crypto community. With $54.52 million worth of tokens being removed from circulation, the total supply of BONK is reduced by 1.8%. This could have significant implications for the market. At press time, BONK is trading at...