Bonk token jumps 14% then slides 40% after treasury drain and extreme greed signal

Bonk (BONK), a Solana‑based meme coin, surged 14% on Sunday, reaching a 0.00920 won price and posting an extreme‑greed sentiment score of 99 on Upbit’s gauge. The rally came with heavy trading, about 91.9 billion won ($66 million) in 24‑hour turnover, making it one of the day’s most active assets.

Separate analysis notes that a wallet legally drained 4.426 trillion BONK (≈$21.2 million) from the token’s treasury on July 6 and has since sold another 800 billion BONK (≈$2.48 million). Since that incident the token has fallen roughly 40%, trading near $0.00000272. The remaining 2.4 trillion BONK in the same wallet, worth about $6.94 million, continues to pose selling pressure, with analysts warning that further liquidations could push the price toward the $0.00000100 level.