BONK Prices Drop After Coinbase Listing Hype Fades
• Solana meme coin BONK dropped 11% after Coinbase announced plans to list it; it initially spiked 15% but then sank as low as 20% • BONK hitting new all-time high last week and flipping FLOKI coin • Evidence of Coinbase testing BONK transfers ahead of listing • Past Coinbase listings drove major but often short-lived price spikes ("Coinbase Effect") • Coinbase overhauled process after insider trading issues related to unpublished listing info earlier this year