In the wild ride that is cryptocurrency, market crashes come and go, but the one on October 10, 2025, stands out as particularly brutal. Sparked by former President Donald Trump's surprise announcement of 100% tariffs on Chinese imports, the event led to a staggering $16 billion in liquidations across major assets like Bitcoin, Ethereum, and Solana. For context, liquidations happen when leveraged positions—bets on price movements using borrowed money—are forcibly closed due to sudden price drops, amplifying the sell-off in a cascade effect.

Seasoned crypto enthusiast and BONK ecosystem contributor Bjoern Bonk, who goes by @bjoernbonk on X, shared his thoughts in a recent post. Having been in the space since 2021 and weathered storms like the FTX collapse, Bjoern described this crash as "truly unique." He emphasized that it wasn't driven by fundamental issues in the projects themselves but by mechanical factors: excessive leverage, thin liquidity, and the timing on a Friday night when trading volumes are low. This setup created a perfect storm for stop-loss orders to trigger, snowballing into widespread panic selling.

As captured in the price snapshot Bjoern shared, Solana (SOL) dipped 2.64% to around $183.84, reflecting the broader market pain that saw SOL plummet up to 16% during the height of the chaos. Bitcoin (BTC) hovered at $112,510 with a slight 0.43% drop, and Ethereum (ETH) edged up 0.12% to $3,841.4. But here's the standout: BONK, the beloved Shiba Inu-themed meme coin on Solana, bucked the trend with a 6.77% gain, trading at $0.000001466. This resilience highlights why meme coins like BONK often dance to their own beat, driven by community hype and quick rebounds rather than traditional market logic.

Bjoern remains optimistic, stating he's "still bullish" on the fourth quarter of 2025, particularly for BONK. He urges folks not to get "shaken out by the noise," pointing out that the underlying catalysts—think Solana's high-speed blockchain tech and BONK's growing ecosystem of tools like Bonk DAO and community initiatives—remain intact. For those new to BONK, it's a Solana-based meme token launched in late 2022 as a fun, community-owned project. It gained massive traction during Solana's recovery from the FTX fallout, symbolizing the network's comeback with its deflationary mechanics (token burns) and viral marketing.

What Caused the Liquidation Cascade?

To break it down simply, leverage in crypto trading lets you amplify gains but also magnifies losses. When prices drop sharply—as they did after the tariff news—exchanges automatically liquidate positions to cover loans, flooding the market with sell orders. Reports from sources like CoinDesk and Forbes detail how this "flash crash" wiped out billions, with Solana feeling the heat due to its popularity in high-risk meme coin trading.

Why BONK Is Shining Through the Storm

Meme coins thrive on sentiment, and BONK's quick recovery could stem from its strong community support and lower correlation to broader market fundamentals. Unlike blue-chip assets, BONK benefits from rapid hype cycles—think social media buzz and ecosystem integrations. Bjoern, who builds for Bonk DAO and BONKmirror, sees this as a sign of strength, encouraging holders to "keep the bigger picture in mind" as we're "witnessing history in the making."

If you're eyeing meme tokens amid this volatility, BONK's performance post-crash makes it a prime example of how these assets can offer outsized returns. Just remember, crypto is unpredictable—always do your own research and consider risk management strategies like avoiding heavy leverage.

As the market steadies, keep an eye on Solana's ecosystem for more developments. Let's BONK on—stay tuned for updates on meme-insider.com for the latest in meme token news and analysis.