I don't even think you have a cold calling range here, its 3bet or fold and with 88 you got to fold.

Yatahay Network - $0.10 NL FAST (6 max) - Holdem - 6 players
Hand converted by PokerTracker 4: http://www.pokertracker.com

BTN: $12.29
SB: $35.95
Hero (BB): $14.38
UTG: $26.83
MP: $10.20
CO: $16.14

SB posts SB $0.05, Hero posts BB $0.10

Pre Flop: (pot: $0.15) Hero has 8h 8s
UTG raises to $0.28, fold, fold, BTN raises to $0.99, SB calls $0.94, fold, UTG calls $0.71

Flop : ($3.07, 3 players) 2h 8c Jd
SB checks, UTG checks, BTN bets $1.53, SB calls $1.53, UTG calls $1.53

Turn : ($7.66, 3 players) Kh
SB checks, UTG checks, BTN bets $3.83, SB calls $3.83, UTG calls $3.83

River : ($19.15, 3 players) 5d
SB checks, UTG checks, BTN bets $5.94 and is all-in, SB calls $5.94, fold

BTN shows Ad Kd (One Pair, Kings)
(Pre 77%, Flop 86%, Turn 93%)

SB shows 9d Ks (One Pair, Kings)
(Pre 23%, Flop 14%, Turn 7%)

BTN wins $29.48
Rake paid $1.31

If only my IQ was a few dozen points lower like my opponents here, I would have won an absolutely monster hand.

4 bet or fold is probably the optimal in this spot for the reasons you said, UTG still to act and can force you out of the pot still.

Need to stop thinking about one spot where you could have won money. Many more spots you slowly bleed money here, Also, you may have raised the flop and forced out the Kings that hit top pair on the turn and won a small pot. Also, JJ and KK are in the ranges here too and you lose a monster.