BONK Plunges 45%: Key Support Shattered as Meme Coin Bleeds Out Since July Peak

Another day, another meme coin getting absolutely rekt.

BONK just got bodied—tumbling through critical support levels like they were wet paper. The token's down a brutal 45% from its mid-July highs, leaving bagholders staring into the abyss.

When Memes Go Wrong

No fancy narratives here—just pure, unfiltered capitulation. Retail piled in chasing green candles, and now they’re learning the oldest lesson in crypto: what goes up, usually comes down harder.

Zero fundamentals, maximum pain. Classic decentralized finance—where the only thing being disrupted is your portfolio balance. Maybe next time they’ll stick to blue chips. Or not—this is crypto, after all.

BONK price: a buy-the-dip moment?

However, there’s a silver lining to this bearish technical picture. The team announced today that they will burn 1 trillion BONK tokens once the memecoin reaches 1,000,000 holders, significantly cutting its circulating supply. According to Solscan, the holder count is currently 974,838, which is only 2.52% (25,162 holders) shy of the 1M milestone.

The Dog is going to burn 1,000,000,000,000 $BONK when it reaches 1,000,000 holders

Just in case you weren’t aware pic.twitter.com/ATWDAhXdeZ

In addition to upcoming token burns, BONK has another major bullish catalyst. Safety Shot, a Nasdaq-listed company known for its patented beverage that rapidly reduces blood alcohol content, recently announced that the company is allocating $25 million in BONK tokens to its treasury. This makes Safety Shot the second publicly announced treasury to hold BONK, following MemeStrategy’s initiative by Everything Blockchain, which aims to build a public portfolio of memecoins including BONK, PEPE, and SPX6900.