BONK Drops 9% From Peak as Exchange Transfers Overwhelm Burn News
The Solana-based memecoin initially surged on the heels of a 500 billion token burn announcement before a Galaxy Digital-linked wallet moved $18.75 million worth of BONK to major crypto exchanges, triggering a 9% pullback in under an hour.
Despite the reversal, BONK stabilized above the $0.00003400 level with support in the $0.00003185-$0.00003230 zone, according to CoinDesk Research's technical analysis data model. Trading activity surged as speculative flows responded to conflicting signals: bullish supply reduction versus the bearish pressure of potential sell-side liquidity injections.
The broader crypto market's shift toward altcoins continued to boost meme token trading volumes as with bitcoin's market dominance weakening. BONK has benefited from increased institutional and retail attention, even as its price action remains volatile and sensitive to on-chain movements.
Technical Analysis Highlights
BONK moved between $0.00003185 and $0.00003763, a 15% swing.
The price dropped 9% from a peak at 15:00 UTC to $0.00003430 by 16:00 UTC.
Strong support held at $0.00003185-$0.00003230 amid multiple overnight retests.
From 03:00 UTC, the price rallied to $0.00003438, showing short-term stabilization.
Between 11:10 and 12:09 UTC, BONK fell 2% to $0.00003433.
Reduced volume during final minutes suggests declining bearish momentum.
Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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Under her leadership, the Foundation has helped build green schools, fund scholarships, support women-led farming cooperatives, restore coral reefs and launch countless programs aimed at strengthening communities and protecting the region's natural resources. 'When you see change happening,' she told me in an interview, 'it keeps you driven.' Heidi Clarke, executive director of the Sandals Foundation, alongside three women volunteers. Courtesy of the Sandals Foundation Clarke brings a unique lens to the work. Raised in Kingston, she studied education and child psychology, then spent years volunteering in Caribbean schools before formally stepping into the nonprofit world—and her background still informs Clarke's mission and the mission for the Sandals Foundation. 'Education underlies everything we do,' she says. 'Whether it's environment or health—education is the foundation for all of it.' Clarke's leadership style is warm and collaborative. She jokes that she has 20,000 people working for her, since everyone at Sandals and Beaches plays a role in the Foundation's work. But her immediate team is just eight people strong. 'Everybody here has a voice and something to bring to the table,' she says. 'You have to be able to lead from the ground up and from the top down. And if we work as a team, we allow each voice to be heard.' One of Clarke's biggest priorities is ensuring that every project the Foundation undertakes is driven by local needs. 'We're not the experts at everything,' she says. 'So what we've recognized is that within our communities, there are grassroots organizations that are doing incredible work and they just need assistance to scale up what they're doing.' Over the years, she's cultivated a model built on partnership and trust—aligning closely with community leaders, government stakeholders and local changemakers to build programs that are sustainable and scalable. Making Authentic Connections One of the most powerful examples of that model in action is the Foundation's long-running partnership with the Grenada Network of Rural Women Producers (GRENROP). What began as a small effort to provide basic training and infrastructure has grown into a thriving collective of 65 women farmers. Today, they're selling fresh produce to local hotels, operating a coconut processing facility and hosting farm-to-table lunches that allow travelers to connect with the land—and the women—who make it all possible. Two women farmers from the Grenada Network of Rural Women Producers (GRENROP) stand proudly in a lush, tropical field, each holding freshly harvested squash. They wear matching purple GRENROP shirts, smiling beneath the Caribbean sun. Courtesy of the Sandals Foundation Theresa Marryshow, GRENROP's president, grew up on her family's farm and has spent her career advocating for women in agriculture. 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