BONK has executed a significant burn event, eliminating 500 billion tokens valued at approximately $16.7 million. The tokens were destroyed using fees accumulated from the project’s launchpad service, reinforcing the meme coin’s deflationary approach designed to reduce overall supply.
Ongoing strategic mechanisms include reallocating 1% of revenue from BonkFun—originally designated for marketing—toward token buybacks and burns. This systematic reduction aims to create upward price pressure by increasing token scarcity and addressing market oversupply.
Market sentiment appears cautiously optimistic, with leveraged traders increasing bullish positions from 56% to 60% within the past 24 hours. Technical analysis indicates a potential 46% price surge to $0.000052 if BONK sustains support at the key $0.000036 level, which aligns with the 1.618 Fibonacci retracement metric.
The token faces a possible correction to $0.000025 should critical support levels fail. BONK’s deflationary strategy remains fundamentally focused on supply contraction to foster long-term price appreciation, contingent upon sustained positive market momentum.