BONK: Drainer Offloads $2.48M More Post-Treasury Hit

BONK faced fresh selling pressure as the trader who legally drained 4.426T tokens worth $21.2M from the treasury offloaded another 800B BONK for $2.48M.

Since the July 6 incident, BONK has dropped 40% while the address retains 2.4T tokens valued at $6.94M, keeping markets on alert for continued distribution. Historical treasury sales of this scale have repeatedly triggered sharp downside moves in BONK token price impact over the past year.

On the 4h chart, price sits inside the Bollinger Bands with RSI at 19.08 in deep oversold territory and MACD locked in a death cross below zero, while both EMA50 and EMA200 act as immediate resistance layers at current levels; this confluence points to potential exhaustion of the selloff before any relief bounce materializes.