Heavy Sell-Off in Meme Tokens Sends BONK Down 12%

BONK Falls 12% as Whale Selling and Fed Uncertainty Hit Memecoin Market

BONK, the Solana-based memecoin, plunged 12% over the past 24 hours, dropping from $0.0000317 to $0.0000276 amid aggressive whale selling and broader market caution ahead of the U.S. Federal Reserve’s upcoming interest rate decision. The CoinDesk Memecoin Index (CDMEME) fell over 8%, reflecting widespread weakness across meme assets.

The token’s decline was marked by extreme volatility, with a trading range of $0.0000045—an intraday swing exceeding 16%. Selling intensified around the $0.0000322 resistance level, where trading volume surged to 1.03 trillion tokens, according to CoinDesk Research’s technical analysis model.

The heaviest activity came at 20:00 UTC on July 29, when volume peaked at 2.59 trillion tokens in a single hour, sharply accelerating BONK’s drop.

While the token briefly stabilized near $0.0000280—a key support zone—bullish momentum failed to materialize. BONK quickly slipped again from $0.00002848 to $0.00002809, losing 1.37% in a short span.

A notable flash crash occurred between 10:47 and 10:52 UTC on July 30, with BONK tumbling 3.13% in just five minutes as over 60.6 billion tokens changed hands. The sudden move suggests a combination of liquidation events and algorithmic trading under stress.

Technical Snapshot:

• Trading Range: $0.0000322 (resistance) to $0.0000276 (support), with 16% intraday volatility
• Sell-Side Pressure: 1.03T tokens traded near resistance; 2.59T traded during peak hour
• Support Breach: $0.0000280 failed to hold after repeated tests
• Flash Crash: 3.13% drop in 5 minutes, driven by 60.6B tokens exchanged
• Trend Outlook: Persistent sell-side dominance with little bid-side recovery

Market participants remain cautious as macro uncertainty looms, with traders potentially de-risking memecoin positions ahead of the Federal Reserve’s policy announcement.