PONS token market cap has rebounded to $523 million, marking a 12% increase in 24 hours. The project disclosed that 29.34% of the total supply has been burned, and 80% of protocol fees will continue to be used for buybacks. Market participants are reminded of the high volatility of meme coins.
GMGN data shows PONS has climbed back above a $500 million market cap. Right now, it sits at $523 million, up more than 12% over the past 24 hours.
The Pons team said 29.34% of the total PONS token supply has been burned so far. And 80% of protocol-generated fees will keep going toward buying back PONS tokens.
Market sources warn that meme coin prices can swing hard. So, they advise investors to stay cautious.
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