How does Bonk perform burning?

🔥 How does the BONK coin burn process work?
The BONK token, which is a meme coin based on the Solana network, uses a burning mechanism as a means to reduce supply and increase scarcity, which could theoretically contribute to raising its value over time. Here's how the process works:
🧠 What does "burning" mean in the world of cryptocurrencies?
- Burning means sending an amount of the currency to a non-recoverable address known as a "burn address".
- This address cannot be accessed by anyone, and therefore the currencies transferred to it are considered out of circulation forever.
- The goal is to reduce the total supply, which increases the scarcity of the currency and enhances its value if demand remains stable or rises.
🔥 BURNmas Campaign: Burning a Trillion BONK
- In December 2024, the BONK community launched a campaign called BURNmas.