BONK Price Drops 40% Since Treasury Drain as Fresh Token Sales Raise More Selling Fears

BONK price dropped 40% since a treasury drain on July 6. Lookonchain reports the trader who legally drained 4.426 trillion BONK ($21.2M) sold another 800 billion BONK ($2.48M). Fresh token sales raise fears of further selling pressure, leaving BONK struggling to find a solid footing as on-chain activity worries holders.