Solana News Today: Institutional Selling Drives BONK's Sharp 45% Retreat

BONK, the Solana-based meme coin, has experienced a notable price decline, breaking below a critical support level and retracing nearly 45% from its mid-July peak. As of August 18, 2025, the token is trading at $0.000023, down 6% in the last 24 hours and down 13% from its price one week ago. The token has seen a broader decline over the past month, with its price dropping 32.18% compared to the peak it reached in early July. The price has now moved significantly below its all-time high of $0.000059, recorded on November 20, 2024, marking a 61% decline from that level [1].

The recent price action has been marked by significant volatility, particularly among institutional traders. BONK traded within a 4% range in the past 24 hours, with a high of $0.00002645 and a low of $0.00002485. The token has seen trading volumes exceeding 2.39 trillion tokens at times, indicating heavy repositioning among larger market participants. This selling pressure has pushed the price further below critical levels and weakened the token’s relative strength compared to other meme coins. For example, BONK underperformed against peers like WIF and TRUMP in daily price movements, despite a 30% gain over the year [1].

BONK’s market position has also weakened in terms of trading volume and rankings. The token has dropped out of the top-10 daily and weekly memecoin rankings by volume, with its 24-hour trading volume currently at $282 million. While this remains a substantial figure, it pales in comparison to the $6.37 billion in trading volume recorded over the past 30 days. Despite this, BONK’s dominance in the broader memecoin market remains at 0%, reflecting its declining influence relative to the overall category [1].

The token’s fundamentals have not changed significantly, but its circulating supply has continued to rise. BONK currently has a circulating supply of 80.69 trillion tokens, accounting for 91% of its maximum supply of 88.87 trillion. The market cap stands at $1.84 billion, with a fully diluted valuation of $2.02 billion, assuming all tokens are in circulation. Institutional selling and increased volatility have been key factors contributing to the current downturn, with some market observers noting a risk-off environment that has affected the Solana-based token ecosystem [1].

Looking ahead, BONK’s ability to regain lost ground may depend on broader market sentiment and key developments in the Solana ecosystem. Recent news includes corporate treasuries planning to acquire up to $115 million in BONK by year-end, signaling potential institutional interest that could provide support in the long term. However, in the short term, the token faces a challenging technical outlook, with its price now testing critical support levels after a sharp pullback from its mid-July highs [1].

Source: [1] BONK Price, BONK Price, Live Charts, and Marketcap (https://www.coinbase.com/price/bonk)