Institutional Liquidations Drive 5% Decline in BONK

BONK Falls Below Support as Market Turns Defensive

Solana-based meme token BONK declined nearly 5% over the past day, falling from $0.000028 to $0.0000266, as broader crypto markets faced selling pressure tied to a deteriorating macro backdrop and risk-off sentiment.

Resistance emerged at the $0.000029 level during the 16:00 UTC hour, where a notable spike in sell-side volume — totaling 764.44 billion tokens — signaled strong distribution activity from larger holders, according to CoinDesk’s technical models.

Attempts to defend the $0.000026 area saw intensified buying activity, with volume surging past 1.17 trillion tokens during the midnight and 08:00 UTC sessions. Despite this, bulls failed to sustain momentum, and the downtrend deepened.

By early afternoon in Europe, BONK dropped another 3% intraday, breaking below the $0.000026 mark to reach $0.0000254. The decline was accompanied by a sudden 59.77 billion-token volume spike at 13:54 UTC, confirming a short-term breakdown and the formation of a descending channel — a bearish continuation pattern.

While BONK staged a brief recovery in mid-U.S. trading, rising to $0.0000275, the bounce was insufficient to reverse the broader technical weakness.

Crypto sentiment remains fragile amid the rollout of new U.S. tariffs, which have prompted investors to scale back exposure to high-volatility assets. The result is renewed downward pressure across risk-sensitive tokens, including BONK.

Technical Overview