2 months ago
BONK is backmost successful the spotlight, rallying 8.7% implicit the past 24 hours and reaching a precocious of $0.0000235 earlier settling astatine $0.00002215. The surge came with 2.27 trillion tokens traded, a 67% summation implicit mean volume, signaling increasing organization and retail interest.
Speculation continues to equine astir a imaginable 2x leveraged BONK ETF from Tuttle Capital, portion broader optimism astir Solana’s recently launched ETF has helped thrust superior into the ecosystem. However, BONK's momentum isn’t conscionable fueled by marketplace sound - its ecosystem fundamentals are strengthening rapidly.
The standout catalyst is BONKbot, present the largest Telegram-based trading bot by volume. BONKbot has generated an awesome $4.35 cardinal successful monthly fees, eclipsing competing bots and providing a tangible gross watercourse for the community.
Complementing this growth, BONK precocious saw a $200,000 hackathon victor emerge, injecting further enactment and innovation into the ecosystem.
Technically, BONK has breached retired of a month-long downtrend channel, with buyers holding the $0.0000218 level and concisely establishing caller enactment astatine $0.0000230 earlier a humble pullback, according to CoinDesk Research's method investigation model. With supply-side narratives (like the pending 1 trillion token burn) and expanding usage cases, BONK whitethorn beryllium primed for continued upside.
Technical Analysis Highlights
- BONK traded successful an 8.7% scope betwixt $0.0000218 and $0.0000235 from July 6 astatine 15:00 UTC to July 7 astatine 14:00 UTC.
- Volume spiked to 2.27T, marking a 67% surge implicit the regular mean and confirming a high-volume breakout.
- BONK recovered coagulated enactment astatine $0.0000218, with accordant buying unit passim the session.
- A crisp rally peaked astatine 10:00 UTC, followed by a breakout to $0.0000230, which concisely acted arsenic support.
- The token slipped 2.7% successful the last hour, from $0.0000228 to $0.0000222, amid profit-taking.
- Volume surged to 42.3B astatine 13:26 UTC, followed by a late-session spike of 145B astatine 13:59 UTC, triggering a method pullback.
- Support astatine $0.0000225 broke nether pressure, present acting arsenic absorption heading into the adjacent session.
Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, see CoinDesk's afloat AI Policy.
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