The crash not only exposed fragility in meme coin liquidity but also highlighted potential opportunities for long-term believers in meme token Bonk (BONK).
The $15 Million Meltdown
Unipcs revealed that he suffered a $15 million loss after extreme volatility wiped out his leveraged positions in Bonk (BONK) and Fartcoin (FARTCOIN).
While Bitcoin (BTC) and Ethereum (ETH) saw moderate declines of around 13%, altcoins and meme tokens plunged by as much as 70%–99% within minutes.
'the LORD gave, and the LORD hath taken away; blessed be the name of the LORD' — Job 1:21
yesterday's liquidation event is the most brutal i've witnessed in my time in crypto
i got wiped out on ALL my perps positions
literally everything
eight figures: $30 million+ at peak… pic.twitter.com/EvOmaZT0rZ
— Unipcs (aka 'Bonk Guy') 🎒 (@theunipcs) October 11, 2025
The event was largely confined to centralized exchanges, suggesting a liquidity or market-maker malfunction rather than a systemic market-wide collapse .
Reports surfaced that stop-loss orders failed, margin additions became impossible, and cascading liquidations accelerated the wipeout.
Despite the loss, Unipcs maintained optimism, stating he would overhaul his trading frameworks, cutting leverage, strengthening risk controls, and safeguarding positions from exchange-level failures.
He remained confident in a potential Q4 recovery rally and the broader crypto cycle’s long-term profit potential.
BONK Price Analysis: Massive Recovery Setup?
Bonk (BONK), one of Solana’s most volatile meme tokens, has entered a crucial accumulation phase after an extended downtrend.
As shown in the weekly chart, BONK is trading near the $0.000015 zone, currently forming a descending wedge pattern, a structure often preceding major reversals.
The price recently retested its long-term support between $0.000010–$0.000012, an area that has historically triggered strong rebounds.
The RSI stands around 42, suggesting BONK is nearing oversold territory, while the MACD is flattening, hinting at bearish exhaustion.
Source: TradingView
If bulls defend this key support and BONK breaks above the descending resistance line near $0.000020, the next major target lies at $0.00010, representing a potential 539% rally from current levels.
On the other hand, failure to hold above $0.000010 could trigger another 30–40% correction before long-term buyers step in.
Buy the Dip Opportunity
Historically, extreme drawdowns have preceded outsized recoveries once liquidity stabilizes and market sentiment rebounds.
BONK’s association with the Solana ecosystem, combined with rising developer and retail activity, adds a speculative but promising foundation for recovery.
For disciplined investors, this could be a classic “buy-the-dip” setup ahead of a potential market resurgence.
