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LAST MINUTE: Developers in this Altcoin have announced that a burn of 1 Trillion Tokens is about to take place!
According to an announcement made from the official X account of BONK (BONK), which is one of the well-known memecoins in the Solana ecosystem, they will hold a token burn event after reaching the level of 1 million token holders.
The BONK developers announced in a statement that the amount of token burn has been set at 1 trillion tokens. This corresponds to approximately 22 million dollars at the time this article is being written. The current market value of BONK is approximately 1.8 billion dollars.
The developers announced a few minutes ago that they are about to reach 1 million token holders, although they did not provide a specific date or time.
It is unknown whether the tokens to be burned will be purchased from the tokens in circulation or whether the burn process will be carried out from the tokens owned by the developers.
It should be noted that memecoins are particularly high-risk assets. In such developments, the expected impact in the cryptocurrency market and memecoins may sometimes be delayed or already priced in. It should also be kept in mind that the burn rate is low compared to the total market value.