Bonk on Base (BONK)

BONK treasury withdrawal address, transferred 4,000억 BONK to Coinbase

https://t.co/NxJHhuLyK4 https://t.co/muouebL6Pz

According to on-chain analyst Yujin's monitoring, an address that previously received 4.426 trillion BONK (valued at about $21.2 million at the time) from the Bonk treasury via a governance proposal transferred another 400 billion BONK to Coinbase today, worth about $1.28 million. The same address transferred 1.186 trillion BONK to Binance yesterday, valued at about $4.11 million. To date, it has moved a total of 1.626 trillion BONK to CEXs, worth about $5.58 million. Within 11 days since receiving the treasury funds, BONK’s price fell from roughly $0.0000047 to $0.000003, a drop of about 36%. https://t.co/KMKoyvHaJN

I’ve always found governance incidents harder to price than protocol exploits.

One exposes weaknesses in decision-making, the other raises questions about the underlying technology. They aren’t the same risk.

Looking at $BONK here, it feels like the market has spent the past few days lumping everything together.

Meanwhile, the ecosystem still has over 1.1M holders, 400+ integrations and more than $1B processed through BONKTrade in 2026.

I’m watching cause the sentiment will eventually catch up with the actual distinction.