BONK DAO Burns 1.69 Trillion Tokens During ‘BURNmas’ Event, Pushing Price Up

1.69 trillion BONK tokens have been officially burned during the community-driven holiday event, “BURNmas,” pushing Solana-based memecoin’s price up

Solana-based memecoin BONK (CRYPTO: BONK) has burned 1.69 trillion tokens during a community-driven holiday event dubbed “BURNmas.”

The burn was executed on Thursday, December 26, from the BONK Decentralized Autonomous Organization’s (DAO) multi-signature wallet.

According to a post on its X account, the burn surpassed community expectations, with nearly $52 million worth of tokens being permanently removed from circulation.

Hey BONKers, a quick BURNmas Update:

During the campaign, the BONK community exceeded The Dog's (and the DAO's) expectations and REALLY showed up❗️❗️❗️

The final number of $BONK gathered by these incentives is over 1,690,000,000,000

All that remains now is a DAO multisig… pic.twitter.com/GtZ16u3FK7

This burn represents 1.85% of the 90.97 trillion BONK tokens currently in circulation, down from the original supply of 100 trillion.

The BURNmas event, which was held on December 26, followed a revised proposal from BONK DAO that updated the original plan.

Initially scheduled for December 25, the event was delayed after members voted to increase the burn from 1 trillion to 1.69 trillion tokens.

BURNmas came more than a month after BonkDAO’s previous token burn in November, which saw $4 million in BONK tokens being removed from circulation.

The move is part of BONK’s broader efforts to optimize its tokenomics, boost the token’s value and maintain a healthy market supply.

BONK Price Today

Despite BURNmas initially appearing to underperform — with BONK's price dropping over 7% on Wednesday — the token later recovered, making it one of the few memecoins to register gains over the past week.

In the past 24 hours, BONK is up 8.5% from its low of $0.00003004, trading at $0.00003269 at the time of writing, as per CoinMarketCap data.

Solana-based BONK is up nearly 29.6% in the past week, while most major dog-themed memecoins saw more modest gains, with Dogecoin (CRYPTO: DOGE) up 11.4% and Shiba Inu (CRYPTO: SHIB) gaining 12.8%.

All these coins have seen double-digit declines over the past 30 days, coinciding with a broader crypto market sell-off as Bitcoin (CRYPTO: BTC) struggled to regain the $0.100k mark and holiday-induced low trading volumes.