BONK Price Slumps After Upbit Delisting Announcement

The BONK price plummeted by over 8% after Upbit announced its plans to delist the memecoin. This move is likely to intensify selling pressure and drag the token's price below a crucial support level.

The recent decline has reinforced the prevailing bearish trend, with the BONK price stuck within it since May. As a result, the token has lost nearly 70% of its value over this period.

The Upbit delisting announcement has triggered a wave of selling across the market, with investors reassessing their exposure to the memecoin. The removal of trading support from a major exchange like Upbit could weigh on market participation and limit demand from South Korean investors.