BONK Nears 1 Trillion Token Burn as Holder Count Approaches 1 Million

BONK, the native memecoin on the Solana blockchain, is attracting renewed investor attention due to a combination of on-chain activity and strategic moves that are setting the stage for potential price appreciation. Recent developments show that the token is on track for a significant deflationary event as the BONK development team prepares to burn 1 trillion tokens once the on-chain holder count reaches 1 million. As of the latest data, the project is only 32,000 holders away from this milestone, which could happen within days [1]. This comes on the heels of a previous burn of 500 billion tokens, valued at $16.7 million, which further reduced the circulating supply [1].

The token’s recent performance has also shown signs of strength. BONK traded at $0.000034 on Monday morning, representing a 200% increase from last month’s low and a 266% gain from its bottom of the year [1]. The memecoin holds a market capitalization of $2.7 billion but is still trading 40% below its all-time high of November 2024. Despite this, the deflationary mechanism and growing investor confidence are being cited as key drivers for optimism.

Institutional recognition is another factor supporting BONK’s narrative. The token was recently added to Grayscale’s Q3 2025 institutional watchlist, a move that signals broader acceptance in the crypto market and has improved its credibility among investors [1]. This listing has spurred interest beyond speculative trading and may bring more long-term capital into the asset.

Smart money activity has also surged, with large capital investors accumulating BONK at an impressive rate. According to Nansen data, smart money wallets now hold approximately 80.44 billion BONK tokens, a 594% increase since late June [1]. This level of accumulation is often followed by increased retail participation, which can further drive upward price momentum.

From a technical perspective, BONK appears to be setting up for a breakout. The token is forming a symmetrical triangle on the daily chart, a pattern typically associated with significant price action. The 50-day moving average has crossed above the 200-day, forming a golden cross—a classic bullish indicator. The RSI is at 70, suggesting continued buyer activity, while the MACD remains positive, indicating that bullish forces are still in play [1].

If BONK breaks out of its current trend, technical analysts suggest the price could reach around $0.000071, representing a 108% gain from the current price. However, the token must first overcome a key resistance level at $0.000041, which has previously restricted upward movement [1].

Despite its recent gains, BONK remains a highly volatile asset. However, with continued token burns, a growing holder base, and increasing institutional interest, the conditions are favorable for further appreciation in the coming months. The interplay of deflationary strategy, smart money inflows, and improving technical indicators collectively suggest that BONK is positioning itself as a potential breakout candidate within the Solana ecosystem.

Source: [1] https://cryptofrontnews.com/bonk-set-for-breakout-as-token-burn-nears-and/