Ethereum News Today: BONK Drops 6-8% Amid Institutional Selling, Tests $0.000024 Support

Generated by AI AgentCoin World
Wednesday, Aug 13, 2025 12:03 am ET2min read
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Aime RobotAime Summary

- BONK, a Solana-based meme token, dropped 6-8% in early August 2025 due to heavy institutional selling and liquidations, testing the $0.000024 support level.

- A $25M institutional purchase by NASDAQ-listed Safety Shot signaled confidence in BONK despite volatility, while Fartcoin fell 12% in the same period.

- The token partially rebounded 3% after hitting key support but remained below its $0.00002841 peak, highlighting ongoing bearish trends and speculative market dynamics.

- Analysts emphasized the $0.000024 level as critical for determining BONK's next move, with potential rebounds or further declines depending on its defense.

- Lack of public communication from BONK's team exacerbated uncertainty, mirroring broader challenges in meme tokens' governance and long-term adoption.

BONK, a Solana-based meme token, experienced a sharp 6-8% price drop in early August 2025, driven by heavy institutional selling and liquidations. The token tested the $0.000024 support level following repeated rejections near $0.000027, signaling a critical moment for traders and investors. Elevated trading volumes during the decline indicated active participation and heightened volatility in the market [1]. The sell-off created uncertainty in the broader meme token space, with Fartcoin recording an even steeper 12% drop over the same period [4].

Despite the initial bearish movement, BONK saw a late-day buying surge, with the price recovering 3% within an hour, stabilizing near key support levels. The rebound suggested strong demand at lower prices and reinforced the significance of technical support in guiding short-term sentiment [2]. This partial recovery did not, however, negate the broader bearish trend, with the token still trading below its previous peak of $0.00002841 [3].

The volatility coincided with broader market dynamics, including a 2.7% July CPI inflation reading that provided a slight tailwind to the crypto market. While BONK remained in a corrective phase, the price action highlighted the token’s resilience amid a highly speculative environment [5]. Analysts noted that the $0.000024 level would be crucial for determining the next move. A successful defense could potentially trigger a rebound toward $0.000027, whereas a break below the level could open the door to further declines [2].

A notable development during the volatility was Safety Shot, a NASDAQ-listed company, purchasing $25 million in BONK for its treasury, marking a significant institutional entry. This move underscored institutional confidence in the token’s ecosystem despite the recent turbulence. The acquisition also raised expectations for long-term stability and increased market participation [4].

BONK’s lack of public commentary from its development team or community leaders during the sell-off further complicated market sentiment. The absence of clear communication may have exacerbated uncertainty, potentially deterring new investors and amplifying price swings. Historical patterns among meme tokens like

Dogecoin
and
Shiba Inu
show similar dynamics, with volatility often tied to speculative interest rather than fundamental value [3].

The price movement and institutional activity around BONK reflect the broader trend of meme tokens attracting both retail and institutional attention. However, the high volatility and lack of clear governance models continue to pose challenges for long-term adoption. While some analysts have forecasted gradual price increases for BONK, these predictions do not align with the recent sharp corrections observed in the market [6].

Source:

[1] BONK Slides 6% to Test Key Support – CoinDesk – [https://www.coindesk.com/markets/2025/08/12/bonk-slides-6-to-test-key-support](https://www.coindesk.com/markets/2025/08/12/bonk-slides-6-to-test-key-support)

[2] BONK Dips 6%, Tests Key Support Amid Elevated Volumes – AInvest – [https://www.ainvest.com/news/bonk-dips-6-tests-key-support-elevated-volumes-mainstream-exposure-2508/](https://www.ainvest.com/news/bonk-dips-6-tests-key-support-elevated-volumes-mainstream-exposure-2508/)

[3] BONK Experiences 8% Decline After August Surge – The – [https://m.economictimes.com/crypto-news-today-live-11-aug-2025/liveblog/123223005.cms](https://m.economictimes.com/crypto-news-today-live-11-aug-2025/liveblog/123223005.cms)

[4] Meme coin news: BONK's $115M deal, LEASH supply twist – CoinJournal – [https://coinjournal.net/news/meme-coin-news-bonks-115m-deal-leash-supply-twist-fartcoin-plunges/](https://coinjournal.net/news/meme-coin-news-bonks-115m-deal-leash-supply-twist-fartcoin-plunges/)

[5] ICP Price Bounces Back After Testing $5.29 Support – CoinDesk – [https://www.coindesk.com/markets/2025/08/12/icp-price-bounces-back-after-testing-usd5-29-support-amid-heavy-volatility](https://www.coindesk.com/markets/2025/08/12/icp-price-bounces-back-after-testing-usd5-29-support-amid-heavy-volatility)

[6] Bonk on ETH (BONK) Price Prediction – Bitget – [https://www.bitget.com/price/bonk-on-eth/price-prediction](https://www.bitget.com/price/bonk-on-eth/price-prediction)