TechFlow news — Earlier on Friday, the developers behind Bonk Inu (BONK), a Solana-based memecoin project, burned more than 5 trillion tokens, equivalent to 5% of the total supply. BONK claims this move effectively eliminates all tokens originally allocated to the project's development team. Members of the Solana community view this burn as a step toward legitimizing the Bonk Inu project, which has actively avoided insider token sales and predatory practices.
Data shows that BONK has seen over 3 million transactions in the past three days. As of Friday, the number of unique BONK holding wallets has surged from fewer than 25,000 at the beginning of the week to over 86,000. However, heavy token selling has restrained BONK’s price gains—despite rising over 2,000% in the past week, BONK dropped more than 40% in the last 24 hours as early investors took profits, while several cryptocurrency exchanges launched BONK futures, allowing traders to short the token.Read more
