BONK Struggles as Major Treasury Sell Off Continues

The price of BONK has faced heavy pressure recently, falling 40 percent since a major treasury event on July 6. The decline follows news that a single entity drained 4.426 trillion tokens worth over 21 million dollars from the project treasury. Market participants are watching the situation closely as this supply hits the open market.

Recent data shows the same trader responsible for the initial drain has sold an additional 800 billion tokens. This recent move added another 2.48 million dollars in selling volume, further pushing the token price down. Investors are worried that these consistent liquidations could keep the price suppressed for some time.

Traders should monitor the token price for signs of support as selling volume continues. Many are waiting to see if the wallet holding these tokens finishes its sales or if more supply will hit the exchanges. Keep an eye on market sentiment to see if buyers step in to absorb the remaining liquidity.