Bonk ($BONK ) Market Update: Governance Fallout Crushes Price, Recovery Remains Fragile
$BONK is trading near $0.00000298, down roughly 36% over the past 11 days as the fallout from a governance attack continues to weigh heavily .
Key Crisis: An attacker exploited BONK's DAO governance to drain 4.426 trillion BONK (~$21.2M)** from the treasury, then systematically dumped the tokens into exchanges. The address has now moved **1.626 trillion BONK** to CEXs, with the final batch hitting Coinbase, netting only **$13.58M after selling into the decline . Korean exchanges Upbit and Coinone delisted BONK on September 7th, removing a critical liquidity pool .
Technical Picture: BONK is attempting to recover from oversold conditions. The Money Flow Index sits at 65.57, showing improving capital inflows, and Parabolic SAR dots have flipped bullish. Key resistance is $0.00000364**; a confirmed breakout could target **$0.00000455. Support sits at $0.00000281**, with deeper downside at **$0.00000253 .
Binance Trade Setup: The structural damage from the governance exploit and continuous CEX deposits makes this a high-risk recovery play. A cautious long only if $BONK reclaims $0.00000364** with volume, targeting **$0.00000400–$0.00000455**, stop below **$0.00000281. DYOR — the attacker's remaining supply is a persistent overhang.
#Bonk #MEME #analises #Binance
$BONK is trading near $0.00000298, down roughly 36% over the past 11 days as the fallout from a governance attack continues to weigh heavily .
Key Crisis: An attacker exploited BONK's DAO governance to drain 4.426 trillion BONK (~$21.2M)** from the treasury, then systematically dumped the tokens into exchanges. The address has now moved **1.626 trillion BONK** to CEXs, with the final batch hitting Coinbase, netting only **$13.58M after selling into the decline . Korean exchanges Upbit and Coinone delisted BONK on September 7th, removing a critical liquidity pool .
Technical Picture: BONK is attempting to recover from oversold conditions. The Money Flow Index sits at 65.57, showing improving capital inflows, and Parabolic SAR dots have flipped bullish. Key resistance is $0.00000364**; a confirmed breakout could target **$0.00000455. Support sits at $0.00000281**, with deeper downside at **$0.00000253 .
Binance Trade Setup: The structural damage from the governance exploit and continuous CEX deposits makes this a high-risk recovery play. A cautious long only if $BONK reclaims $0.00000364** with volume, targeting **$0.00000400–$0.00000455**, stop below **$0.00000281. DYOR — the attacker's remaining supply is a persistent overhang.
#Bonk #MEME #analises #Binance