Institutional Sell-Off Drives 14% Decline in BONK as Market Turns Defensive

Solana meme coin BONK dropped sharply on Monday, shedding 14% in 24 hours as institutional players rushed to exit amid a broader risk-off mood across crypto markets.

The token fell from $0.000035 to $0.00003096, with trading volume surging above 2.39 trillion BONK, signaling large-scale repositioning. CoinDesk Research’s technical model flagged heavy selling pressure near the $0.000036 mark—where over 2.6 trillion tokens were liquidated in a wave of institutional exits.

Some relief appeared overnight as support formed near $0.000031, absorbing 1.48 trillion tokens. Still, bulls failed to regain control, and a sharp 3% drop between 13:06 and 14:05 UTC pulled BONK lower once more.

High-frequency trading models suggest further weakness could follow, with momentum trends pointing to a break below $0.000031. Should that level fail to hold, the $0.000030 psychological threshold may be tested next.

Technical Snapshot:

13.6% daily loss; high of $0.00003565, low of $0.00003062.
Resistance at $0.000036 coincided with a spike in sell volume.
Interim support around $0.000031 held briefly before fading.
Final-hour trading saw a dip from $0.000032 to $0.000031 on 60B+ tokens.
Algorithms spiked in activity between 13:53–14:03 UTC, hinting at stop-loss flows.
Downside pressure remains dominant unless fresh demand emerges.