BONK at a 3-Year Low: Upbit Delisting Flattens the First Floor

Upbit delisting is driving BONK toward multi-month lows

Upbit's decision to end trading support removed a meaningful liquidity tier, and BONK is already reacting.

BONK traded near $0.00000255, down nearly 7%, after being pushed to its lowest level since November 2023. With trading support set to end on September 7, 2026, the move looks less like routine meme-coin volatility and more like a near-term repricing after the loss of a major South Korean venue.

Why the selloff started before trading actually stopped

The pressure was building before the final delisting date. Upbit first flagged BONK as a caution asset on July 7 and later decided to end support after a review found unresolved security issues and delayed material disclosures. For BONK, that matters beyond lost access to one exchange: it also signals weakening trust in the token's listing standing.

Sellers still look in control

Some traders may still hold while the September 7 deadline approaches, betting that positioning becomes crowded before support ends. But the shorter-term setup remains weak. The announcement triggered an immediate spike in selling activity and reinforced a bearish trend that has already weighed heavily on price since May.

The key near-term question is whether BONK can stabilize after losing Korean accessibility and taking a hit to market confidence, or whether this marks the start of a broader liquidity unwind.