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BONK Price Prediction: Since last weekend, the selling pressure in the cryptocurrency market has eased as the Bitcoin price found stability above $55000. The absence of aggressive sellers has bolstered altcoins to find suitable support, while fast-moving assets like meme coins are already in recovery mode. The phenomena displayed in the Bonk coin as its price rebounded from $0.000018 to $0.000026, registering a 44% jump. Has the correction trend ended? Also Read: Bitcoin Drops As German Govt Offloads Over 5K BTC, Still Holds $1.85B BONK Price Prediction: Bonk DAO Proposal to Burn 84 Billion BONK Tokens BONK Price Prediction| Tradingview The Solana-based Meme coin BONK emerged among the few cryptocurrencies that showed strong resilience against the early July sell-off. Within the last three weeks, the coin price rebounded twice from $0.000018 horizontal support, projecting that buyers are actively buying this dip. A look at the daily chart shows this upswing as the formation of a double bottom pattern. The bullish reversal provides a higher conviction for bottom formation and also a breakout opportunity. Today, BONK’s price has surged by 8% to trade at $0.0000261, while the market cap jumped to $1.78 Billion. This rise is likely driven by the announcement of a proposed significant token burn by the treasury. BONK DAO has received a proposal to BURN ~84B BONK from its Treasury representing the Q2 amount of BONK sent to the DAO from BONKBot. All BONK locked on BonkRewards is now able to vote on community proposals. Voting:https://t.co/akvJAfpCcM — BONK DAO (@bonk_dao) July 8, 2024 Bonk DAO has received a proposal to burn approximately 84 billion BONK tokens from its treasury. This proposal corresponds to the Q2 amount of BONK sent to the DAO from BONKBot. If approved, this burn would reduce the overall supply of BONK tokens, potentially increasing…

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Filed under: News - @ July 9, 2024 7:20 pm