Can Bonk avoid deeper losses after hacker moved stolen tokens to Binance?

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Bonk drops 7.65% as sell risk rises

Highlights

Bonk faces near-term selling pressure after a hacker transferred $4.1 million in stolen tokens to Binance, raising supply concerns.
Investor uncertainty persists as the attacker still controls a substantial portion of stolen tokens, with risk of further exchange liquidations.
Technical indicators signal a dominant downtrend for BONK/USD, with price consolidation expected between $0.00000277 and $0.00000323 and high downside probability.

Hacker token transfers to Binance deepen near-term selling risk

A major factor weighing on Bonk was the movement of approximately $4.1 million in stolen tokens by the hacker responsible for the recent $21.2 million exploit, who transferred this amount to Binance, according to Invezz. This sudden increase in potential market supply has heightened concerns over near-term selling, as the tokens could quickly be liquidated. Further exacerbating sentiment, Fxstreet reports the hacker retains a significant quantity of stolen tokens, continuing to pose a risk of additional transfers to exchanges and creating ongoing uncertainty for holders.

Bearish momentum prevails as multiple technical indicators confirm weakness

Technically, BONK/USD faces immediate resistance at the Ichimoku Kijun, set at $0.0000032, with price action also capped below the MA-20, MA-50, and well beneath the long-term MA-200. The Relative Strength Index (RSI) is at 30.57, indicating a sell signal, while the Commodity Channel Index (CCI) is in oversold territory. Both the Moving Average Convergence Divergence (MACD) and the Average Directional Index (ADX) point to a firmly established downtrend. Bull/Bear Power shows sellers maintaining control, whereas Stochastic RSI and the Awesome Oscillator present a neutral and non-committal stance, respectively. This conflux of indicators confirms prevailing bearish momentum, though not all oscillators confirm downside extremes.

Limited rebound odds as downside risk overshadows short-term consolidation

Over the next two to three trading days, Bonk is expected to consolidate within a range of $0.00000277 to $0.00000323, reflecting typical volatility relative to current levels. With upward probability assessed as very low and downside risk remaining elevated, a sustained rebound is unlikely in the near term. If the price breaks above $0.0000032, a short-lived recovery attempt may unfold, but a move below $0.00000277 would reinforce the dominant downtrend and potentially open the way for further declines.

Viktoras Karapetjanc, analyst at Traders Union, believes the recent hack continues to weigh on Bonk (BONK) by undermining sentiment and keeping buyers cautious. He sees market participants reacting to the ongoing risk of additional token dumps, with broader volatility and technical pressure reinforcing defensive positioning. The expert notes that confidence may improve only if the supply overhang eases and price holds above key resistance. "If Bonk can absorb the supply shock and reclaim $0.0000032, recovery momentum could build, but for now, the bears remain in control," Karapetjanc says.

Earlier, analysts noted that Bonk faced heightened selling pressure and persistent bearish momentum following the recent exploit involving stolen tokens. The current outlook reinforces this negativity, with ongoing hacker activity continuing to undermine sentiment and leaving Bonk exposed to additional downside risk if further transfers to exchanges occur.

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

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.