Meme tokens are experiencing significant losses, with $BONK taking a notable hit. The Solana( $SOL )-based meme coin plunged by 12%, dropping from $0.0000317 to $0.0000276 as investors reacted to the upcoming Fed policy update. Whales have begun unloading their holdings, causing BONK's trading volume to skyrocket to 2.59 trillion tokens within just one hour. The market panic intensified at 20:00 UTC, leading to automated sell-offs and rapid price dips. Even a key support level near $0.0000280 failed to hold, indicating a troubling trend for the token. As the market remains volatile, investors are left to navigate the uncertainties surrounding meme coins.
