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500 billion burned bonk news about Here’s the latest on the 500 billion BONK token burn: 🔥 What happened? On July 24, 2025, the BONK project announced that 500 billion BONK tokens—worth approximately $16.7 million to $18.6 million—were permanently removed from circulation, funded by fees collected via the LetsBONK (BonkFun) launchpad CoinDesk+15Bitget+15CryptoNews+15. This burn represents around 0.65% of BONK’s circulating supply The Market Periodical. 🧠 Why it matters Deflationary push: Reducing supply creates scarcity, potentially supporting price if demand holds steady Coinspeaker+11My Blog+11CryptoNews+11. Ecosystem support: The burn is part of a broader strategy; LetsBONK has pledged 1% of its revenue to weekly buybacks, reinforcing long‑term support Bitget+15My Blog+15CryptoNews+15. 📉 Market response After the burn announcement, BONK rallied roughly 6%, settling around $0.000034 on July 24, outperforming most Solana memecoins during a sector-wide downturn Bitget+15Coinspeaker+15CryptoRank+15. However, later in the same day, a Galaxy Digital-linked wallet transferred ~$18.75 million of BONK to exchanges, triggering a sharp ~9% drop Yahoo Finance+2AInvest+2CoinDesk+2. The token then consolidated between $0.00003185 and $0.00003400, stabilizing above key support levels Bitscreener+15CoinDesk+15AInvest+15. 📊 Technical outlook MetricKey Levels / DataSupport range~$0.00003185 – $0.00003230Resistance levels~$0.000037 – $0.000042Volume impactDerivatives volume surged ~54%, open interest +12.5% post‐burn Yahoo Finance+1AInvest+1CryptoRankBenzinga+10Coinspeaker+10CryptoRank+10Market sentiment shift154% monthly gain; bullish momentum building Benzinga Bullish analysts suggest a potential move toward $0.000040–$0.000042 if price holds above support. A break below ~$0.00003185 could signal a drop toward ~$0.000028 CryptoRank.

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$BONK On July 24, 2025, the BONK project announced that 500 billion BONK tokens—worth approximately $16.7 million to $18.6 million—were permanently removed from circulation, funded by fees collected via the LetsBONK (BonkFun) launchpad

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