Bonk’s price has increased by 0.5% in the last 24 hours, reaching $0.00003175 despite a 1% decline in the broader cryptocurrency market. However, the meme coin remains 12% lower over the past week, 31% down for the month, and 45% below its all-time high of $0.00005825 recorded on November 20.
BURNmas Event and BONK’s Potential Comeback
Signs indicate a potential resurgence for Bonk, as the project’s DAO recently announced plans to burn at least 1 trillion BONK by December 25 as part of the BURNmas initiative. The BURNmas tracker projects that up to 1.6 trillion BONK may be burned, and the project’s founder has set a long-term price target of $0.11.
What Is BURNmas?
Launched through a blog post on November 15, BURNmas is a promotional campaign designed to raise awareness of the token. Alongside the planned token burns, Bonk’s DAO and team are encouraging community engagement through social media campaigns.
Burning Mechanism Explained
Under BURNmas, Bonk DAO burns 100,000 BONK for every tweet featuring the #LetsBONK hashtag. The initiative has exceeded expectations, with a projected burn total of 1.6 trillion BONK—equivalent to 1.7% of the total supply and 2.2% of the circulating supply. Despite these efforts, BONK’s price has yet to react positively, aligning instead with the broader market’s decline.
Technical Indicators Suggest a Possible Rebound
BONK’s technical indicators hint at a potential recovery. Its Relative Strength Index (RSI) has begun climbing after nearing the oversold level of 30. Additionally, the 30-period moving average shows signs of reversing its downward trend against the 200-period moving average, suggesting possible upward momentum in the coming weeks.
Challenges Ahead
One notable concern is BONK’s reduced trading volume, which currently stands at $300 million, significantly lower than its November peaks. However, market optimism could improve with the upcoming inauguration of Donald Trump, potentially leading to favorable crypto legislation. If conditions align, BONK could rise to $0.000050 by Q1 2025 and $0.00010 by Q2.
Exploring Alternative Meme Tokens
For traders seeking opportunities beyond BONK, new tokens with strong fundamentals may offer significant potential. Low-cap coins often experience impressive gains during their early stages, particularly those with promising use cases and active presale campaigns.
Spotlight on Flockerz (FLOCK)
Flockerz (FLOCK) is an emerging ERC-20 token that has raised $7.7 million in its ongoing presale. This innovative vote-to-earn token rewards holders for participating in governance decisions, offering an additional avenue for passive income through staking. With a capped supply of 12 billion tokens, FLOCK allocates 25% each for staking and governance rewards, ensuring long-term value for its community.
Final Opportunity to Join Flockerz Presale
Flockerz’s presale is set to conclude in 30 days, with tokens currently priced at $0.006504. Interested investors can visit the project’s official website to secure their share before the token lists on exchanges, potentially at higher prices.
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