BONK surges more than 12% amid cautious rebound from recent hack-driven slide

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Bonk rises 12.37% today after rebound

Highlights

Bonk's price plunged nearly 40% after a July 6 governance breach allowed an attacker to extract about 4.426 trillion BONK tokens from the DAO treasury.
Despite some renewed buyer interest, market sentiment remains cautious as Bonk trades over 93% below its November 2024 high and the attacker continues to sell large token amounts.
Bonk remains under bearish technical pressure with a high probability of further downside toward $0.00000272–$0.00000197, as momentum signals confirm persistent seller dominance despite intraday volatility.

Sustained selling pressure after governance breach tempers sentiment shift

Bonk experienced a steep decline of nearly 40% after a governance-related security breach on July 6, in which an attacker used a malicious proposal to lawfully withdraw approximately 4.426 trillion BONK tokens from the BonkDAO treasury, worth about $20–21 million. The market cap dropped by around $180 million, and on-chain data shows the individual responsible is still selling large amounts of BONK from a wallet holding about 2.4 trillion tokens. While some renewed buyer interest has been observed, market sentiment remains cautious, and Bonk is trading more than 93% below its November 2024 all-time high, highlighting ongoing weakness in the sector.

Anton Kharitonov, expert at Traders Union, sees persistent structural weakness in Bonk following the recent governance breach. He notes that key moving averages remain unbroken and sellers dominate the market. Treasury-linked selling still weighs on sentiment, with no credible reversal in sight. Technical indicators remain firmly bearish, and support levels look vulnerable as downside momentum persists. "Unless there is a major change in fundamental outlook or sentiment, I expect Bonk to stay pressured and potentially test lower supports in coming sessions."

Viktoras Karapetjanc, expert at Traders Union, views the recent events as an opportunity for Bonk to regain institutional trust as the market stabilizes. He highlights that post-crisis buying, even if modest, hints at underlying demand and renewed participation. Despite the large sell-off, he sees scope for constructive sentiment to emerge as governance reforms are discussed and selling volumes abate further. "With volatility presenting tactical setups and a wide consolidation band, I believe forward-looking investors have a window to position for upside once structural resistance is cleared."

Parshwa Turakhiya, analyst, points to strong short-term volatility and sentiment-driven moves in Bonk post-breach. He notes sellers hold momentum, but oversold signals and intraday swings open space for tactical rebounds on quick reversals. Turakhiya stresses that price action remains choppy within established bands, making rapid shifts likely. "In this setup, I’d watch for sentiment spikes near support and react to momentum, since both downside flushes and fast relief rallies are possible in the coming days."

Persistent downtrend as sellers dominate momentum below key averages

BONK/USD remains below its 20-, 50-, and 200-day moving averages, with the current price of $0.0000032 under the $0.00000397, $0.00000431, and $0.00000627 levels, respectively. This positioning suggests sellers retain control across short, medium, and long-term trends, confirmed by the MA-50 vs MA-200 bearish structure. Short-term trading is defined by resistance at $0.00000382 and support at $0.00000272. Momentum signals are strongly negative: the MACD and ADX reflect continued downside pressure, and the RSI is deep in oversold territory at 24.99975062, echoed by Stochastic RSI and CCI readings. Intraday activity is dominated by sellers, as shown by Bear Power and the Awesome Oscillator signaling persistent weakness, even as Bonk rallied intraday with volatile swings.

Earlier, analysts noted that Bonk was grappling with bearish momentum and persistent selling pressure following a significant governance breach. The latest market developments reinforce this cautious outlook, with traders advised to monitor the $0.00000272 support for potential breakdown risk amid ongoing downside pressure.

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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