BonkDAO is converse to burn more than 1.6 trillion BONK tokens payment roughly $fifty three.5 million, as piece of the team’s vacation marketing campaign to lengthen the memecoin’s scarcity.

BonkDAO’s vacation marketing campaign, “BURNmas,” is a team-powered deflationary event with the target of burning one trillion BONK tokens by Christmas.

Burning tokens refers to reducing a cryptocurrency’s total offer by casting off them from circulation and usually aids in label upswings for cryptocurrencies. The upcoming burn represents practically 1.8% of BONK’s total offer of roughly 92.7 trillion tokens.

Correct by contrivance of BURNmas, BONK supporters could well well discontinuance a group of actions to make a contribution to the total quantity burned. Shall we stammer, tweeting the hashtag #LetsBonk, following the memecoin’s accounts on various social media platforms, and putting wagers on BONKbets every resulted in the elimination of tokens.

Learn More: Crypto Degens Trail Up Having a guess Market on Whether Hyperliquid Blockchain Will Win Hacked

BURNmas started on Nov. 15 and ends on Tuesday at 7:01 p.m. EST, acknowledged a tweet from the memecoin’s yarn.

The discontinuance of BURNmas comes more than a month after BonkDAO conducted its outdated burning event in November when $4 million payment of BONK used to be eradicated from the memecoin’s circulation. Following BONK’s November burn, the memecoin’s market cap jumped about 75% from $2.3 billion to over $4 billion in the span of every week, per buying and selling platform DexTools.

Despite slumping practically 27% in the final 30 days to alternate fingers at $0.00003261, BONK has increased 6.1% previously 24 hours to a market cap of practically $2.5 billion, market records from CoinGecko shows.

At recent costs, BONK is the largest memecoin on Solana, ahead of dogwifhat (WIF) and is also the fourth largest memecoin across all blockchains, trailing DOGE, SHIB, and PEPE.