BONK's price rebounded following the burn of 1.69 trillion tokens, with the reduced supply boosting its value.

The memecoin BONK, hyped for its dog-themed nature, has hit a rough patch. Even after the big token burn event on December 26—where 1.69 trillion tokens worth $51 million were burned—the price still dropped by 7.2%.

Bonk was expected to take center stage on Christmas Day with a promised 1.69 trillion BONK token burn, but delays left community members outraged and a potential 50% rally in question. The post Holders Turn on BONK After ‘BURNmas' Flop – Can BONK Price Rally 50% Again? appeared first on Cryptonews.

The Bonk (BONK) token experienced a 7.2% decline in price following the recent token-burning event, which successfully removed 1.69 trillion BONK tokens.

Solana-based meme coin Bonk continued its downward rally despite the project recently burning 1.69 trillion BONK tokens. On Dec. 26, over 1.8% of BONK's entire supply, amounting to 1.

BONK, one of Solana's popular meme tokens, is trading at $0.000031, close to its one-month low. This marks a significant drop from its November 22 peak of $0.000053. Open interest in BONK has also fallen to $8.32 million, the lowest in three months, as traders shift their focus to other assets.

The Bonk team initially promised to execute the burn on Christmas Day, but didn't get around to it until a day later on Dec. 26.

The newly launched PENGU token has stolen the spotlight after becoming the largest Solana-based memecoin by market capitalization. The token's rally has gathered massive interest from large-scale investors, who have heavily invested in the token over the last few days.

Bonk DAO voted in favor of another decrease in the token's supply. The community gathered 1.69T tokens, which were burnt from the DAO's multi-sig wallet.

Despite the token burn, BONK struggles with resistance and bearish market sentiment, limiting potential gains.

In late November, the developing team behind the popular Solana-based meme coin coin BONK proposed to burn 1 trillion tokens that the community would contribute during an event named BURNmas. On Wednesday, they announced that they have surpassed that target and will now be burning a total of 1.

Pudgy Penguins (PENGU) price has surged 12% in the last 24 hours, surpassing BONK to become the largest meme coin in the Solana ecosystem with a market cap of approximately $2.5 billion.

The Solana-based meme coin BONK is preparing for a burn of 1.69 trillion tokens, valued at approximately $55 million. This is following its successful BURNmas campaign.

BonkDAO's “BURNmas” event plans to burn 1.69 trillion BONK tokens worth $54 million, reducing the total supply by 1.8%.

The broader Solana meme coin market surged to $18.2 billion, representing a 10.3% increase over the last day, driven by PENGU's performance.

A $54.52 million worth of token burn is the goal of this Solana meme community-driven project to increase BONK's demand in the crypto market.

WhiteBIT, a leading European cryptocurrency exchange has significantly expanded its collateral offerings by adding 60 new cryptocurrencies. This raised the total number of collateral assets supported to over 80 and added more versatility to the trading platform.

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According to widely-followed crypto influencer ‘artchick,' Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) will not be the main meme coin beneficiaries of a rally. The influencer's forecast hinges on Bitcoin (CRYPTO: BTC) maintaining its momentum and Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) outperforming.

Apart from day traders, the rest should be wary of BONK's bullish chances until the $0.00004 resistance is flipped to support.

Bonk has risen by 0.5% in the past 24 hours, as its DAO gears up to burn over 1 trillion BONK. The post BONK Targets 1 Trillion Burn by Christmas – Could Prices Explode 328,000%? appeared first on Cryptonews.

The better-performing altcoins have lost between 20-30% during this downturn so far. However, in the memecoin niche things are a lot worse, with losses amounting to 40-60%.

Fear and uncertainty fill the Solana (SOL) meme coin scene! Tokens like Dogwifhat (WIF) and Bonk (BONK) are bleeding value, leaving many investors frustrated and anxious. Once the darling of internet culture, these coins have seen their prices plummet, sparking questions about their future.

Bonks community-backed 1 trillion token burn is sparking fresh momentum as the $0.11 price goal takes center stage. With a Christmas deadline and rapid market growth, Bonk is capturing the attention of crypto investors worldwide.

The founder's daring price objective has added gasoline to the fire of market speculation. More than 810 billion tokens have already been verified for burning since the campaign's debut.

Most meme coin prices rebounded on Saturday, Dec. 21, after falling for most of the week, with their combined market cap rising by 4.7% to $109 billion. Shiba Inu (SHIB) price rose by 12.6% to an intraday high of $0.

The $0.00004 resistance zone identified on the daily chart had a sizeable concentration of liquidation levels around it.

In a recent recovery on Saturday, Solana-based BONK led the rally among dog-themed meme coins, as Bitcoin bounced back above $98,000 after a steep drop to around $93,000 on Friday. Memecoins Surge As per data from Coingecko, BONK surged 30%, while Dogecoin, Shiba Inu, Dogwifhat and Floki Inu surged as much as 20%.

Bonk has unveiled its bold plan to burn 1 trillion tokens as part of its ongoing “BURNmas campaign”, with its founders predicting a price target of $0.11. If the BONK token reaches this price, it would represent an incredible 328,000% gain from its current price.

Memecoins are known for their high volatility and tend to outperform major tokens during price rallies, serving as a leveraged bet

Story Highlights The live price of the BONK token is BONK coin price may reach a high of $0.000085 by the end of 2024. BONK, with a potential surge, could reach a maximum of $0.0050 by the end of 2030.

The crypto market is facing significant this week and the price of meme coins like Floki and Bonk are falling sharply today following a dire outlook from the Federal Reserve regarding inflation and the pace at which they plan to cut rates next year.

Prominent cryptocurrency and stock trading platform Robinhood continued to expand its meme coin offering with the listing of Bonk. According to a Dec. 20 announcement, the Solana-based meme coin will now be accessible to over 24 million Robinhood users.

Some of crypto's best meme coins have been rocked by a sharp downturn, with tokens like Pepe, Bonk, and Floki suffering catastrophic losses. Hailed as the tokenized epitome of internet culture and speculative euphoria, holders of these tokens now wonder if there is much future in them.

The market cap of Solana meme coin Bonk (BONK) has dropped by $1.8 billion within the last 30 days. This drawdown came amid the token 34.11% price decrease.

Here is how some of your favorite assets concluded the week.

Solana meme tokens are still highly active, with five assets breaking the $1B market cap barrier. AI agents are also boosting Solana meme activity.

BONK finds itself under increasing selling pressure as its recent rally falters, raising concerns about the token's ability to sustain its upward momentum. Struggling to maintain its gains, the price has started a fresh drop toward the $0.00002962 key support level, indicating a possible bearish continuation.

On-chain data shows $45.73 million in BONK token outflows from exchanges during December 2024, coinciding with bullish technical patterns and a 5.65% price increase in the last 24 hours.

In a recent YouTube video, crypto analyst Crypto Banter revealed top altcoins that could soar up to 50x during this market rally. As excitement builds in the crypto space, these coins are drawing massive attention from investors eager for big gains.

On-chain metrics reveal that exchanges have witnessed $45.73 million worth of BONK outflow.

Bonk (CRYPTO: BONK) continues to chase Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB), performing slightly better than its two bigger rivals over the past 24 hours. Cryptocurrency Price Market Cap 24-Hour Trend 7-Day Trend Bonk (CRYPTO: BONK) $0.00003949 $2.98 billion +2% -8.4% Dogecoin (CRYPTO: DOGE) $0.4148 $60.9 billion +0.2% -8.1% Shiba Inu (CRYPTO: SHIB) $0.0000288 $16.9 billion +0.2% -10.1% Trader Notes: Crypto trader Cold Blooded Shiller noted Bonk chart is reflecting a huge weekly retest:

One of the famous memecoins, Bonk is feeling the heat of market movements. Its recent performance has been shaky. Its failed attempts to pass the latest resistance has raised concerns if it is losing power. Is there any chance to recover? Is bonk preparing for a rally? Let's analyse the market and find out.

Bitcoin crashed nearly 10% below its all-time high of $104,088 to a low of $94,150 on Monday. The flash crash was short-lived, but it dragged down altcoins and meme coins like Dogecoin, Shiba Inu, Pepe, Dogwifhat and Bonk.

The cryptocurrency market saw another decline on Dec. 10, 2024, with Bitcoin dropping below $95,000 for the second time in recent days, causing widespread liquidations.

Many larger-cap alts have marked substantial losses, but meme coins lead the pack.

Meme coins took a hard hit as Bitcoin plunged on Monday and liquidations surged, with Dogecoin and others still showing red.