BONK Falls 8% After Institutional Profit-Taking Amid Short-Term Recovery Push

BONK, the Solana-based memecoin, experienced a sharp 8% decline following a significant climb to its August high of $0.00002841 on August 11, 2025 [1]. The initial surge was met with heavy institutional trading, which quickly curtailed much of the early gains. The price dropped to a low of $0.00002554 during a volatile session, testing the key technical support level near $0.00002620 [1].

The sell-off intensified between 11:00 and 13:00 UTC, during which trading volumes surged between 1.12 trillion and 2.16 trillion tokens. This spike in activity is believed to have stemmed from coordinated profit-taking and position rotation by large holders [1]. The selling pressure caused the token to retreat significantly, despite the strength of its earlier gains.

A brief recovery was observed around 13:00 UTC, triggered by news that a publicly traded company appeared to be considering the inclusion of BONK in its treasury. Specifically, Nasdaq-listed health beverage firm Safety Shot (SHOT) reportedly agreed to purchase $25 million worth of BONK, in exchange for offering $35 million worth of SHOT shares to the memecoin’s contributors [1]. This development provided a short-term boost to the token’s price, signaling potential renewed interest from corporate investors.

Despite this temporary uplift, BONK remains under pressure near the $0.00002620 support level. Technical analysis indicates that the price range over the last 24 hours was between $0.00002554 and $0.00002841, representing 12% volatility. The key resistance remains at $0.00002854, which has been identified as a sell zone. A break above this level could signal further upside potential, while a sustained close below $0.00002620 may intensify downward momentum [1].

Volume spikes during the liquidation period highlight the aggressive nature of the sell-off, with over 2 trillion tokens traded in a short span. This suggests a high level of participation from large market players, further amplifying the volatility. The token has, however, shown resilience, forming higher lows at $0.00002565, $0.00002572, and $0.00002570, which could indicate the formation of a base for future gains [1].

The 8% drop followed by a 2% rebound suggests that BONK could be in the early stages of a consolidation phase. If the support level holds and positive sentiment continues, the token may build the foundation for a new upward move. However, until overhead resistance is cleared, market participants remain cautious about its near-term direction.

Source: [1] BONK Retreats 8% After Climbing to August High

https://www.coindesk.com/markets/2025/08/11/bonk-retreats-8-after-climbing-to-august-high