BONK Sinks 12% as Meme Token Sector Faces Heavy Sell-Off

Solana-based BONK token plunged as transaction volumes spiked to 2.59 trillion amid large holders offloading ahead of the Fed’s policy meeting. BONK experienced a steep 12% drawdown over the last 24 hours, declining from $0.0000317 to $0.0000276, while the broader CoinDesk Memecoin Index fell more than 8%. The price action unfolded within a broad $0.0000045 range, an intraday volatility of over 16%, with coordinated selling around the $0.0000322 level, where transaction volume surged to 1.03 trillion tokens, according to CoinDesk Research's technical analysis data model. The most severe downward movement was observed at 20:00 UTC on Tuesday, with BONK dropping precipitously on a single-hour volume spike of 2.59 trillion tokens. The selloff could be linked to traders pre-positioning ahead of the Federal Reserve’s upcoming FOMC announcement. While technical support began forming around $0.0000280, sellers regained control, sending the token from $0.00002848 to $0.00002809, a 1.37% drop. Particularly notable was a five-minute interval from 10:47 to 10:52 UTC on July 30, when BONK fell 3.13% with over 60.6 billion tokens traded, underscoring the presence of aggressive automated liquidation activity, according to the model. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE. CoinDesk Analytics is CoinDesk's AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets. All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk's editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article. CoinDesk Analytics operates under CoinDesk's AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk's approach to AI-generated content in our AI policy. https://www.coindesk.com/markets/2025/07/30/bonk-sinks-12-as-meme-token-sector-faces-heavy-sell-off #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple