Heightened Institutional Selling Sends BONK Down 5%

BONK Breaks Lower as Selling Pressure Escalates

BONK, a meme coin native to the Solana ecosystem, declined nearly 5% over the past 24 hours, dropping from $0.000028 to $0.0000266, as broader crypto markets weakened under renewed macroeconomic pressure.

A rejection near $0.000029 during the 16:00 UTC window marked the beginning of the slide, with trading volume spiking to 764.44 billion tokens — a strong signal of distribution from institutional or large-scale holders, according to CoinDesk’s technical analysis model.

Although support briefly held near $0.000026, with significant inflows of over 1.17 trillion tokens around midnight and again at 08:00 UTC, buyers were unable to reverse the trend. Price continued to soften through the European trading session.

At 13:54 UTC, BONK dropped another 3% intraday, hitting a low of $0.0000254 on a burst of sell volume exceeding 59 billion tokens. The move confirmed a breakdown below key support and completed the formation of a descending channel — a pattern that typically signals continued bearish momentum.

BONK staged a mild rebound during U.S. morning hours, climbing to $0.0000275, but the recovery lacked strong follow-through and failed to restore confidence.

The selloff came amid rising global risk aversion. Fresh U.S. tariffs have triggered a defensive shift in investor behavior, prompting outflows from speculative assets such as cryptocurrencies — a familiar pattern during macro-driven volatility.

Key Technical Signals

• BONK fell 7% from $0.000028 to $0.000026 over 24 hours
• Heavy resistance at $0.000029 confirmed by 764.44B in sell volume
• Buying pressure near $0.000026 was met with 1.17T+ tokens, but failed to stabilize price
• Intraday drop to $0.0000254 triggered by 59.77B token sell-off at 13:54 UTC
• Breakdown below support forms descending channel, bias remains bearish