Trader Loses $15 Million in Meme Coin Crash, BONK Recovery Possible
The recent crash in meme coins, including Bonk (BONK), revealed liquidity issues but also highlighted potential opportunities for long-term holders.
The $15 Million Meltdown
- A trader known as Unipcs reported a $15 million loss due to volatility affecting his leveraged positions in BONK and Fartcoin (FARTCOIN).
- Bitcoin (BTC) and Ethereum (ETH) saw declines of around 13%, while altcoins and meme tokens dropped by 70%–99% rapidly.
- The issue was mainly on centralized exchanges, indicating possible liquidity or market-maker problems.
- Stop-loss orders failed, margins couldn't be added, and cascading liquidations worsened losses.
- Unipcs plans to revise trading strategies, reduce leverage, enhance risk controls, and protect against exchange failures.
- He remains optimistic about a Q4 recovery and long-term crypto profitability.
BONK Price Analysis: Massive Recovery Setup?
- Bonk (BONK) is in an accumulation phase after a downtrend, trading near $0.000015 and forming a descending wedge pattern.
- The price retested support between $0.000010–$0.000012, historically leading to rebounds.
- The RSI at 42 indicates BONK is nearing oversold territory; MACD is flattening, showing bearish exhaustion.
- If bulls defend support and break resistance near $0.000020, a 539% rally to $0.00010 could follow.
- Failure to hold above $0.000010 might cause a 30–40% correction before buyers return.
Buy the Dip Opportunity
- Historically, large drawdowns have preceded recoveries when liquidity stabilizes and sentiment improves.
- BONK's ties to the Solana ecosystem and increased developer activity offer a speculative recovery foundation.
- This may present a "buy-the-dip" opportunity for disciplined investors ahead of a potential market rebound.