BONK memecoin plunges 12% after Upbit delists it over security concerns

The BONK memecoin dropped 12% within 12 hours following Upbit's announcement to delist BONK trading pairs due to security risks and potential user harm. This triggered a 270% surge in trading volume and increased sell pressure, intensifying bearish sentiment. BONK's price fell below key support levels, raising the possibility of a short squeeze and a temporary bounce before further declines if Bitcoin also weakens. The delisting highlights growing caution around memecoins amid security concerns.