BONK Token Shockwave: Galaxy-Linked Address Transfers $18.75M After Massive Burn
Main Idea
A Galaxy Digital-linked address transferred $18.75 million worth of BONK tokens to Binance and Coinbase shortly after the BONK project burned 500 billion tokens, causing a 6.34% price drop and sparking market speculation.
Key Points
1. 510 billion BONK tokens ($18.75M) were transferred from a Galaxy Digital-linked address to Binance and Coinbase.
2. The transfer occurred immediately after the BONK project announced a burn of 500 billion tokens.
3. BONK's price dropped 6.34% to $0.00003237 within 24 hours following the transfer.
4. Token burns aim to reduce supply and increase value, but large sell-offs can counteract this effect.
5. Whale movements, like this transfer, can significantly impact market prices and investor sentiment.
Description
BitcoinWorld BONK Token Shockwave: Galaxy-Linked Address Transfers $18.75M After Massive Burn The cryptocurrency world is no stranger to dramatic movements, but a recent event involving the popular meme coin, BONK token , has certainly captured widespread attention. Imagine a colossal amount of digital assets, worth millions, suddenly shifting hands right after a significant event designed to reduce its supply. This isn’t just a hypothetical scenario; it’s precisely what unfolded with BONK token...
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