Date: Monday, July 15, 2024, 05:16 AM GMT
In the cryptocurrency market, BONK, the Solana-based memecoin, saw a significant surge of 4.43% in 24-hour trading, bringing its price to $0.00002445. The market capitalization of BONK has now reached an impressive $1.16 billion.
This rise follows a major burn activity initiated by BONK DAO. The DAO announced on X (formerly Twitter) that a proposal to burn approximately 84 billion BONK tokens from its treasury had been approved and executed. This move came after a proposal suggested destroying these tokens, which were sent to the DAO by BONKBot during the second quarter.
This proposal has passed and been executed. You can now go to https://t.co/Z7q2JzWTOu and withdraw your BONK. https://t.co/0mVdsmJK3r
— BONK DAO (@bonk_dao) July 14, 2024
Additionally, all BONK tokens locked in BonkRewards are now eligible to participate in community proposal voting, enhancing community engagement and decision-making.
The burn activity and the increased community involvement have likely contributed to the recent surge in BONK’s price, reflecting growing confidence in the project among investors.