The memecoin BONK has burned 1.69 trillion tokens worth 51 million dollars in the "BURNmas" event, reducing its circulating supply by 1.85%.

Despite the burn, the price of $BONK has decreased by 7.2%, with the market capitalization dropping to 2.3 billion dollars amid a broader market downturn and community disappointment over delays in implementation.

BONK remains the fourth largest memecoin, after Dogecoin, Shiba Inu, and Pepe.