Despite a slight pullback, BONK's recent rally is supported by a potential deflationary catalyst, as the token approaches a key resistance level.
BONK experienced an 8.39% increase, rising from $0.000028 to $0.000029, continuing its bullish momentum. The token reached an intraday high of $0.00003 before retreating to $0.000029, with increased sell-side pressure noted. A significant deflationary event is anticipated, as the protocol plans to burn 1 trillion tokens upon reaching 1 million on-chain holders, which would reduce the circulating supply considerably.