20 hours ago
BONK experienced a steep 12% drawdown implicit the past 24 hours, declining from $0.0000317 to $0.0000276, portion the broader CoinDesk Memecoin Index fell much than 8%.
The terms enactment unfolded wrong a wide $0.0000045 range, an intraday volatility of implicit 16%, with coordinated selling astir the $0.0000322 level, wherever transaction measurement surged to 1.03 trillion tokens, according to CoinDesk Research's method investigation information model.
The astir terrible downward question was observed astatine 20:00 UTC connected Tuesday, with BONK dropping precipitously connected a single-hour measurement spike of 2.59 trillion tokens.
The selloff could beryllium linked to traders pre-positioning up of the Federal Reserve’s upcoming FOMC announcement.
While method enactment began forming astir $0.0000280, sellers regained control, sending the token from $0.00002848 to $0.00002809, a 1.37% drop.
Particularly notable was a five-minute interval from 10:47 to 10:52 UTC connected July 30, erstwhile BONK fell 3.13% with implicit 60.6 cardinal tokens traded, underscoring the beingness of assertive automated liquidation activity, according to the model.
Technical Analysis Highlights
- Price Range: $0.0000322 (high) to $0.0000276 (low), reflecting 16% intraday volatility.
- Resistance: $0.0000322 observed with 1.03T tokens traded during coordinated merchantability wave.
- Support: Critical portion adjacent $0.0000280 tested aggregate times nether organization pressure.
- Peak Selling Hour: 20:00 UTC connected July 29 with 2.59T tokens exchanged.
- Flash Sell-Off: 3.13% driblet successful 5 minutes (10:47–10:52 UTC) with 60.6 cardinal tokens traded.
- Volume Behavior: Persistent imbalance betwixt sell-side execution and bargain orders.
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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