Time to Sell BONK? a Lot of People Think So – but This Analyst Doesn’t

BONK is having a rough day, but instead of running for the exit, whales are quietly buying the dip.

The meme coin is down over 9% today and trading volume has taken a hit, dropping more than 19%. BONK price is now sitting at around $0.00002791, well below its recent high of $0.00005916 earlier this month

Retail traders are taking some profits. But according to analyst SK, smart money whales have been heavily bidding as the price falls deeper, a signal that this might not be the top after all.

First time covering $BONK Smart money whales are HEAVILY bidding $BONK as the price falls deeper, an extremely healthy sign The bonk eco is obviously the centerpiece ecosystem of Solana and it always has been, the value $BONK and it’s community bring to the table is… pic.twitter.com/TsVF7sibXT

— sk (@skmakeit) July 30, 2025

Why the Sudden Drop?

Today’s sell-off wasn’t just about BONK; it hit the entire crypto market. Better-than-expected U.S. economic data triggered a broad risk-off reaction. Job numbers came in stronger than forecast, and Q2 GDP jumped to +3%, up from Q1’s contraction. That crushed hopes for near-term Fed rate cuts.

With bond yields rising and liquidity draining from the system, riskier assets, especially meme coins like BONK, were hit the hardest. Bitcoin fell less than 1%, but BONK price dropped over 9% due to its higher beta to macro conditions. Simply put, the market panicked, and BONK took a punch.

But while retail flinched, whales saw an opportunity.

Is This Just a Healthy Pullback?

That’s what some analysts and on-chain watchers believe. Even though momentum has cooled, the broader BONK ecosystem is far from fading. In fact, there’s a major new development fueling long-term excitement: Microbonk.

Microbonk, launched this week, is the first on-chain BONK treasury, built on Solana and powered directly by BONK

Introducing $MBONK The first — and soon the largest — on-chain Bonk treasury.Built on Solana, powered by $BONK.We’re turning meme hype into long-term value with: Smart treasury design Dual-token flywheel ( $BONK + $MBONK) Protocol-driven buybacksBonk isn’t just… pic.twitter.com/dybTWz4hmm

— Microbonk (@Microbonk__) July 30, 2025

It’s introducing a dual-token system with protocol-driven buybacks, aiming to convert meme hype into something more sustainable. BONK, they say, is evolving into a treasury-backed digital asset, not just a joke with a dog logo.

Read More: HBAR Adoption Confirmed? This Analyst Highlights Hedera’s Tokenization Power – But Not Without Controversy

What’s Next for BONK?

CaptainAltcoin’s founder still sees BONK as one of his top bets for the current cycle, even if the recent action has been “not playing out so well” in the short term. He’s not alone, many in the Solana community still view BONK as the heart of the network’s meme economy. And with smart money doubling down during this dip, it’s clear not everyone is throwing in the towel.

BONK price just took a hit, no doubt. But the whales are buying, the fundamentals are expanding, and the community is holding strong. This could be a short-term shakeout or the setup for the next leg higher. Either way, one thing’s clear: BONK isn’t done barking yet.

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The post Time to Sell BONK? A Lot of People Think So – But This Analyst Doesn’t appeared first on CaptainAltcoin.