BONK Plummets 14% as Big Money Flees—Another ’Risk-Off’ Casualty or Buying Opportunity?

Memecoin bloodbath continues as institutional traders ditch BONK—dropping it like a hot potato in today's risk-averse market.

When the whales sneeze, altcoins catch pneumonia. The 14% nosedive exposes crypto's eternal truth: when traditional markets shiver, speculative assets get hypothermia.

Bonus cynicism: Nothing says 'mature asset class' like double-digit swings because some hedge fund intern rebalanced their 0.0001% altcoin exposure.

Technical Analysis Highlights

• Price dropped 13.6% over 24 hours.
• Trading ranged from $0.00003565 (high) to $0.00003062 (low), a 14.1% swing.
• Institutional selling spiked above 2.6 trillion tokens near resistance at $0.000036.
• Temporary support formed around $0.000031 with 1.48 trillion tokens absorbed.
• Final-hour decline saw BONK fall from $0.000032 to $0.000031, with 60B+ tokens traded.
• Algorithmic trading volumes surged between 13:53–14:03, a potential sign of stop-loss triggers.
• Quant models project possible further decline toward $0.000030 if resistance holds.

 Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.