Bonk (BONK) has gone down by 10% in the past 24 hours as cryptos are once again feeling the sting of President Donald Trump’s tariff increase on Chinese imported goods.
It’s been a week since the dramatic flash crash that pushed crypto assets to levels not seen in months.
Today, the selling spree seems to have resumed as there have been no positive developments on the Trump vs. China front. Moreover, a looming banking crisis in the United States seems to have added additional fuel to the fire and has depressed market sentiment to its lowest point since April this year.
Meme coins as a whole have taken a 9% loss in the past 24 hours while trading volumes have increased by 36%, reflecting the strength of today’s selling pressure.
As a result, Bonk has accumulated a 55% loss since the year started, as it missed the market’s May-September uptrend.
Although altcoin season may have kicked off after BNB Coin (BNB) and Ethereum (ETH) reached new all-time highs, the Solana ecosystem has been lagging behind its peers.
To confirm this, Solana has not yet managed to climb to a new price record, while ETH and BNB did. On-chain data shows a potential reason for this, as daily transactions and active addresses have been on a downtrend for months.
Since one of the most active segments of Solana is meme coins, this favors a bearish outlook for Bonk, as interest in these tokens could be fading due to their poor performance lately.
Bonk Eyes $0.000010 as Downtrend Persists
Bonk has been on a downtrend since July this year as it has been making a series of lower highs. This favors a bearish outlook, but it does not necessarily mean that it will drop to lower levels than the ones seen this year.
It appears that the $0.000010 area has acted as a strong support multiple times in the past, making this the key level to watch if the selling spree accelerates.
If this support holds, the odds favor a strong upcoming bounce for BONK that could push the token to the $0.000016 level in the near term.
The Relative Strength Index (RSI) remains heavily depressed and has not sent any buy signals yet. Hence, traders should wait until this latest wave of panic eases, which could possibly happen if the Federal Reserve cuts interest rates this month as the market expects.
On the opposite side, a break below the $0.000010 mark could result in a much deeper correction to $0.0000080 and could push BONK to “crash” territory as its year-to-date performance would get close to minus 75%.
In the meantime, the best crypto presales of the year, like Snorter ($SNORT) could deliver the highest upside to early investors. This automated trading bot makes it easier to spot hidden gems in the Solana ecosystem that could turn into the next BONK.
Snorter ($SNORT) Prepares to Launch Next-Gen Meme Coin Trading Bot on Telegram
Snorter ($SNORT) is the token behind a new Telegram-based trading bot built for speed, simplicity, and security. Designed for meme coin traders tired of juggling apps, charts, and scams, Snorter lets you snipe new tokens and manage your trades easily through a chat window.
With a single command, users can create wallets, execute trades, or auto-snipe new launches in seconds. The bot’s Solana-powered routing engine delivers near-instant swaps while filtering out blacklist tokens, hidden mints, and honeypot traps. It’s fast, smart, and built for the chaos that on-chain markets are typically known for.
Snorter isn’t stopping there, as the team plans to go multi-chain soon, expanding to Ethereum, BNB Chain, and other major networks. Once the bot starts delivering positive results to early adopters, the demand for $SNORT will rise rapidly.
Early buyers can join the presale now and secure $SNORT at its discounted launch price.
Simply head to the official Snorter website, connect your wallet, and be part of the next evolution of Telegram trading. You can swap USDT or SOL for $SNORT or use a bank card to invest.
