Despite burning over 1.69 trillion tokens worth 51 million USD, BONK’s value dropped nearly 7% on December 26, 2024, due to a delay in execution. The delay provoked negative community reactions, casting doubt on the project’s transparency and communication.
BONK, the fourth largest Memecoin, saw a decline in community confidence after the delay in the BURNmas event. Scheduled for December 25, the burn was postponed to the 26th without a clear explanation, prompting backlash and skepticism about longer-term trust and engagement.