Bonk Inu (BONK) Burns Over 5 Trillion Tokens As Its Price Decreases By 50%
Developers behind the Solana-based memecoin project Bonk Inu burnt almost 5 trillion tokens, or 5% of the entire supply, earlier on Friday. The action claimed to have essentially burnt all tokens reserved for project developers.
As prices fell by roughly 50% in the last 24 hours, 5% of the token supply that is allocated to the team has been burned. In the last 24 hours, CremaFinance exchanges and Gate.io have implemented bonk-based trading events and NFT mints, increasing the memecoin’s usability for traders and holders. Over the last five days, over four million transactions were recorded, indicating that holders were actively participating.
Source
@TradeCryptoNow
