Bonk falls around 9.5% as security breach triggers major selling pressure

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Bonk slides 9.42% today on breach

Highlights

Bonk suffered a major security breach as an attacker exploited a governance proposal, stealing $20–21 million in BONK tokens.
Stolen tokens worth at least $4.1 million have been moved to Binance, raising fears of further liquidations and persistent price pressure.
BONK trades below key moving averages with strong bearish momentum, an expected range of $0.00000228–$0.00000351, and high probability of further downside.

Volatility spikes as attacker liquidates stolen tokens on exchanges

A significant security breach hit Bonk on July 6, enabling an attacker to steal $20–21 million in BONK tokens through a malicious governance proposal exploit. Subsequent transfers of at least $4.1 million in stolen tokens to Binance have amplified concerns, with the hacker still controlling a sizable amount. The incident has heightened volatility and raised the prospect of further price weakness if additional tokens are liquidated.

Anton Kharitonov, expert at Traders Union, points to deepening technical and sentiment weakness following the Bonk breach. He highlights the clean sweep below major moving averages and strong selling momentum, noting the 9.42% drop and persistent volatility. Kharitonov is concerned that the ongoing liquidation of stolen tokens keeps risk elevated, while oversold signals have yet to attract buyers. He believes that lack of bullish follow-through means downside remains the prevailing scenario. "Until the attacker’s liquidation activity ends and buyers regain confidence, I see little foundation for a sustainable rebound in BONK."

Viktoras Karapetjanc, expert at Traders Union, sees current distress as a potential opportunity for forward-looking participants. He notes that oversold levels and heightened volatility could pave the way for a swift rebound if market structure stabilizes. Karapetjanc remains constructive, stressing that the token still holds value despite the breach. He emphasizes that decisive action against further liquidations may quickly restore sentiment. "If Bonk can contain further selling and rebuild trust, I expect the market to offer multiple bullish setups in the near term."

Persistent bearish momentum as all key technical indicators weaken

BONK/USD trades below all its major daily moving averages, with price under the MA-20 at $0.00000411, MA-50 at $0.00000442, and MA-200 at $0.00000632. This positioning signals persistent selling pressure across short-, medium-, and long-term trends, with the broad bearish alignment confirmed by the MA-50 vs MA-200. The nearest ceiling stands at $0.00000302, with the near-term floor at $0.00000228. Momentum indicators remain weak: the Moving Average Convergence Divergence (MACD) and Average Directional Index (ADX) both point to a downward trend, indicating sellers are firmly in control. The Relative Strength Index (RSI) sits at 27.72 and the Commodity Channel Index (CCI) at -199.72, both signaling oversold conditions, while the Stochastic RSI is at 0, confirming oversold status. Bull/Bear Power (BBP) is negative, showing clear intraday dominance by sellers, whereas the Awesome Oscillator (AO) also confirms downside momentum. The pair is down to $0.000003, dropping $0.0000003 or 9.42% for the day after opening with a downside gap of about 6.06%. Price currently trades near its intraday low, and intraday volatility stands at 6.67%. The session reflects strong pressure from sellers immediately after the open.

Earlier, analysts noted that Bonk remained under persistent bearish pressure due to ongoing hacker activity and heightened selling risks following the major exploit. The current technical and on-chain context reinforces this outlook, with increasing volatility and a high probability of further downside now making sustained rebounds unlikely unless a clear shift in sentiment emerges.

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

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