$BONK Market Analysis
Current price: 0.00000344 USDT, 24h +4.56%; 24h range: 0.00000328–0.00000345, trading volume approximately $1.52 million. The price has rebounded from recent lows, but remains relatively low overall, with weak upward momentum.
1. South Korea’s Upbit had previously delisted the BONK spot trading pair due to the ongoing BonkDAO governance attack that began in July this year. Hackers used malicious governance proposals to drain approximately 4.43 trillion BONK from the treasury. Security firm Halborn estimated the losses at around $20 million. Bithumb, meanwhile, removed its trading warning label on August 7.
2. In the wake of the incident, BONK fell below key moving averages. It dropped about 9.5% in a single day in early October, reaching an area near its all-time low.
3. Over the past 24 hours, as the broader market stabilized, BONK rebounded around 4.6% from its lows. However, trading volume of just over $1.5 million indicates limited market participation.
Liquidity in the South Korean market has been significantly impaired following Upbit’s delisting. Trust in BonkDAO is still being restored after the security incident. The current price is about 94% below its November 2024 all-time high. The meme sector is sentiment-driven and highly volatile.
In the short term, the 0.00000353–0.00000369 area is a dense resistance zone, while 0.00000328–0.00000312 offers near-term support. In the medium term, the impact of the incident has largely been priced in, and whether the price can stabilize depends on activity in the Solana ecosystem and the community’s next steps. In a nutshell: A low-level rebound has emerged following the incident, but caution is advised when chasing the price higher; wait for a pullback to support before considering staggered entry opportunities.
Current price: 0.00000344 USDT, 24h +4.56%; 24h range: 0.00000328–0.00000345, trading volume approximately $1.52 million. The price has rebounded from recent lows, but remains relatively low overall, with weak upward momentum.
1. South Korea’s Upbit had previously delisted the BONK spot trading pair due to the ongoing BonkDAO governance attack that began in July this year. Hackers used malicious governance proposals to drain approximately 4.43 trillion BONK from the treasury. Security firm Halborn estimated the losses at around $20 million. Bithumb, meanwhile, removed its trading warning label on August 7.
2. In the wake of the incident, BONK fell below key moving averages. It dropped about 9.5% in a single day in early October, reaching an area near its all-time low.
3. Over the past 24 hours, as the broader market stabilized, BONK rebounded around 4.6% from its lows. However, trading volume of just over $1.5 million indicates limited market participation.
Liquidity in the South Korean market has been significantly impaired following Upbit’s delisting. Trust in BonkDAO is still being restored after the security incident. The current price is about 94% below its November 2024 all-time high. The meme sector is sentiment-driven and highly volatile.
In the short term, the 0.00000353–0.00000369 area is a dense resistance zone, while 0.00000328–0.00000312 offers near-term support. In the medium term, the impact of the incident has largely been priced in, and whether the price can stabilize depends on activity in the Solana ecosystem and the community’s next steps. In a nutshell: A low-level rebound has emerged following the incident, but caution is advised when chasing the price higher; wait for a pullback to support before considering staggered entry opportunities.