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

The BONK price is struggling to find solid footing, and the latest on-chain activity isn’t doing holders any favors. According to Lookonchain, the trader who legally drained 4.426 trillion BONK tokens worth $21.2 million from the BONK treasury has now sold another 800 billion BONK, valued at roughly $2.48 million. Since the July 6 incident, the memecoin has already fallen 40%, adding fresh pressure to an already weakening trend.Another Massive BONK Sale Hits MarketThe latest sale comes from the same wallet that still holds 2.4 trillion BONK, currently worth around $6.94 million. That remaining balance has become another source of uncertainty, with traders watching closely for signs of additional selling.Large token distributions don’t always translate into immediate market declines, but continued liquidation from a single holder can weigh heavily on sentiment, especially when the broader trend is already pointing lower.Long-Term Trend Remains Under PressureThe BONK price is currently trading near $0.00000272 after shedding roughly $0.00001000 since the beginning of 2026. Throughout the year, the token has struggled to produce a sustained recovery, and even June failed to interrupt the broader downtrend.The recent decline following the treasury-related incident has only reinforced that weakness, leaving buyers with little evidence of a meaningful reversal so far.Can BONK Avoid Another Major Breakdown?For now, the market structure remains fragile. If heavy selling resumes from the remaining holdings, the BONK price could continue trending lower. Under that scenario, the psychological level around $0.00000100 may become the next area traders watch.Whether demand returns before additional tokens reach the market will likely determine if BONK price stabilizes or extends its decline in the sessions ahead.