The BONK team has announced the burning of a significant amount of their meme coin, removing a substantial portion from circulation. In a recent X post, the team revealed they destroyed approximately 300 billion BONK tokens, valued at around $8.05 million. These BONK tokens were generated as fees collected from Letsbonk.fun, a platform designed for meme coin issuance within the BONK ecosystem. This burn is intended to reduce the overall supply of BONK, potentially increasing its value and benefiting holders. By removing these fees from circulation, the team is demonstrating a commitment to the long-term health and sustainability of the BONK project. The reduction of supply often leads to increased scarcity, which can positively impact the price and overall market sentiment surrounding the token. ```

#BONK