Bonk price dips amid rising selling pressure

Traders Union
All News
Crypto
Bonk drops 10.00% today on breach

Highlights

BonkDAO suffered a major governance exploit, with roughly $20 million drained after an attacker used exchange wallets to seize proposal control.
Exchanges like Upbit suspended Bonk transactions as BonkDAO collaborates with law enforcement and partners to track and freeze stolen assets.
BONK/USD shows sustained bearish momentum, trading below key averages with a high likelihood of further declines toward the $0.00000372–$0.00000527 range.

Asset outflows rise after $20 million DAO hack triggers exchange action

In early July 2026, BonkDAO, the organization managing Bonk's treasury, suffered a governance attack in which an attacker used exchange wallets to amass enough voting power to pass a proposal draining around $20 million from the DAO. The attacker transferred the stolen funds to their wallets and moved portions to exchanges, prompting platforms like Upbit to suspend Bonk deposits and withdrawals. BonkDAO stated it is working with exchanges, the Solana Foundation, bridges, and law enforcement to track, freeze, and recover the assets.

Anton Kharitonov, expert at Traders Union, sees the BONK breach as a major red flag for governance and project stability. He notes that technicals point to heavy downside momentum. The breach has devastated sentiment and triggered platform actions like exchange suspensions. Technically, BONK trades far below every key moving average, which signals entrenched selling pressure. "Until trust and on-chain security are restored, BONK remains highly vulnerable to prolonged declines and further sharp selloffs."

Viktoras Karapetjanc, expert at Traders Union, remains confident about Bonk’s long-term prospects despite the current turmoil. He believes coordinated responses with exchanges, law enforcement, and the Solana Foundation could strengthen future governance and market integrity. The market now offers multiple setups for nimble participants as price stabilizes around key support. "With decisive action and community resilience, I see opportunity for renewed trust and further growth once the treasury issues are resolved."

Jainam Mehta, market strategist, emphasizes the confluence of technical breakdown and negative sentiment following the DAO hack. He sees potential for sideways action within a clear $0.00000372 to $0.00000527 range, but notes heightened volatility could present short-term tactical trades. "A contrarian bounce above resistance is possible, but staying nimble is key in this highly reactive market environment."

Sustained bearish momentum as key averages and indicators break down

BONK/USD is trading well below its 20, 50, and 200-day moving averages at $0.00000444, $0.00000489, and $0.00000655, highlighting persistent seller pressure across all trends. The Ichimoku Kijun at $0.00000454 acts as resistance, with a near-term ceiling at $0.00000444 and an immediate floor at $0.000004. Momentum indicators including MACD and ADX are bearish, while the RSI shows a mild seller bias at 46.56. The Stochastic RSI presents a strong sell at 54.13, and both the CCI and Awesome Oscillator remain neutral. Bull/Bear Power is slightly positive, indicating marginal short-term buying, but the overall setup favors sellers amid heightened volatility and continued price declines.

Earlier, analysts noted that Bonk faced persistent downside pressure and diminished investor confidence following a major security breach and weak technical signals. The current outlook reinforces this bearish scenario, with continued selling dominating price action and downside risks prevailing, making a close below $0.00000372 a potential trigger for further declines.

Source of Data: BONK Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.