BONK, a meme-based cryptocurrency, experienced a sharp 14% decline in the last 24 hours, driven by aggressive institutional selling and rising macroeconomic uncertainties. The token dropped from a daily high of $0.00003565 to $0.00003062, reflecting growing pressure on speculative assets in a risk-off trading environment.
Meme Token Sell-Off Accelerates as Institutions Exit Positions
Large wallet data indicates that over 2.6 trillion BONK tokens were sold, particularly near the resistance level at $0.000036. The sell-off was largely attributed to institutional traders unwinding positions in response to regulatory jitters and hawkish signals from the U.S. Federal Reserve.
This sharp exodus marks one of BONK’s highest-volume institutional dumping events in recent weeks.
Technical Indicators Confirm Bearish Momentum
From a technical analysis perspective, BONK’s trading range showed extreme volatility. The intraday swing of 14.1% highlights the fragile state of meme coin sentiment under current market conditions.
- Temporary support appeared around $0.000031, with 1.48 trillion tokens absorbed.
- A steep decline in the final hour pushed the token from $0.000032 to $0.000031, with over 60 billion tokens traded.
- Algorithmic trading activity spiked between 13:53 and 14:03, signaling potential stop-loss cascading.
The surge in automated trading volume suggests heightened vulnerability to price manipulation and volatility triggers.
Regulatory Headwinds and Macro Signals Pressuring Risk Assets
The broader crypto market faced downward pressure following signals from U.S. regulators and the Fed’s reaffirmation of its tight monetary stance. This environment has fueled widespread deleveraging, especially in high-risk altcoins and meme assets.
BONK’s recent drop reflects a flight to safety across digital assets, with investors trimming exposure to highly speculative coins amid rising global uncertainty.
Outlook Remains Cautious as Sentiment Weakens
Unless regulatory clarity emerges and macroeconomic indicators stabilize, BONK may continue to face downward pressure. While temporary support has been observed, sustained recovery will likely depend on improved market liquidity and a rebound in overall risk appetite.
Short-term traders should monitor volume spikes and resistance levels closely as volatility remains elevated.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.