The Solana-based memecoin BONK executed a burn of 500 billion tokens as part of its aggressive deflationary strategy aimed at reducing overall supply and facilitating price appreciation.
The token burn is funded through a buyback program that allocates 1% of revenue from letsBonk’s marketing initiatives. This recurring mechanism targets prolonged supply reduction while incentivizing long-term holding among investors.
Current technical analysis indicates BONK recently rallied 158%, with critical support levels suggesting a potential 46% price surge toward $0.000052. Conversely, failure to maintain these levels could trigger a retracement to $0.000025, potentially extending losses if May’s high is breached.
The strategic destruction of tokens intends to enhance scarcity and value retention for remaining BONK tokens, establishing favorable conditions for continued bullish momentum should industry sentiment remain positive.