- Bonk announces 2.02 trillion token burn: The BONK team revealed plans to burn a massive number of tokens to reduce supply and boost scarcity, marking the end of the BONKDragon event and the celebration of the 2025 Lunar New Year.
- Price remains stuck despite the burn: BONK’s price has dropped 28.73% in the past week and is currently trading at $0.000018, trapped in a descending channel with weak demand and bearish momentum.
- Bearish outlook persists: Technical indicators, including the MACD, show continued selling pressure. If BONK fails to break resistance at $0.000023, it risks further declines to $0.000012 without increased demand.
The Bonk (BONK) team has unveiled plans to burn 2.02 trillion tokens, a move aimed at reducing supply and boosting scarcity. The announcement was made via the project’s official X account. However, despite the burn news, BONK’s price has remained largely stagnant, reflecting broader market pressures linked to recent political tensions around U.S. trade wars.
BONK Price Plunges, Burn Strategy in Focus
Earlier this week, BONK’s price dropped to $0.000016 before slightly recovering to $0.000018. Yet, the token is still down 28.73% over the past seven days and remains 70% below its all-time high.
To address concerns about oversupply, the team announced at 3:26 AM UTC that it would remove 2.02 trillion tokensfrom circulation. This burn marks the conclusion of the BONKDragon event and also celebrates the 2025 Lunar New Year.
“As part of the BONKDAO commitment to sustaining tokenomics, the council has identified 2.02 trillion BONK as the next burn event, celebrating the end of the BONKDragon campaign and the 2025 Lunar New Year,” the team stated.
However, this effort has yet to reignite investor confidence. The price remains trapped within a descending channel, creating a pattern of lower highs and lower lows on the 4-hour chart.
Price Analysis: BONK Faces Bearish Momentum
BONK’s technical outlook continues to signal trouble. The memecoin is trading within a descending triangle on the daily chart, with key support at $0.000018. This pattern suggests that sellers are maintaining control, especially with demand for BONK remaining weak.
Additionally, the Moving Average Convergence Divergence (MACD) indicator has entered negative territory, reinforcing bearish momentum. If BONK fails to break above the triangle’s upper trendline, it risks falling further to $0.000012.
Potential Scenarios: Correction or Reversal?
For BONK to escape its current downtrend, a surge in demand would be required. If momentum turns bullish, the price could rally toward $0.000030. However, for this to happen, the token must first overcome resistance at $0.000023 and validate a breakout.
Until then, BONK may remain range-bound between $0.000016 and $0.000019, with bears firmly in control of the market direction. Investors are keeping a close eye on upcoming price action to determine whether the burn event will eventually drive a recovery—or if the memecoin remains stuck in a prolonged slump.
