2 months ago
BONK tumbled 5.6% successful the past 24 hours, falling $0.00002161 aft a question of selling unit reversed earlier gains and broke done cardinal enactment zones. Despite the near-term pullback, underlying ecosystem developments proceed to enactment a broader bullish narrative.
Attempts to reclaim $0.000022 betwixt 20:00 UTC-21:00 UTC faltered contempt 716.32 cardinal tokens successful turnover, signaling deepening bearish control.
However, beneath the surface, BONK’s foundations are strengthening. Bonk.fun platform, intimately tied to the token, has surged to dominance - accounting for 55% of Solana token launches. Over 200,000 projects person launched connected the platform, generating 24-hour trading measurement of $539 million connected Tuesday.
Millions successful level fees are being redirected toward BONK buybacks and burns, reducing proviso and reinforcing value. Community sentiment connected X (formerly Twitter) reflects this shift, with users progressively framing Bonk.fun's ascent arsenic a structural marketplace stock rotation successful favour of BONK.
While determination whitethorn beryllium continued selling unit successful the abbreviated term, BONK’s expanding ecosystem inferior and assertive tokenomics suggests deeper resilience - and imaginable upside - beyond the contiguous chart.
Technical Analysis Highlights
- BONK dropped 6% from $0.000023 to $0.00002161 implicit 23 hours.
- $0.000023 was rejected with a 752.4 cardinal measurement surge astatine 18:00 UTC.
- Multiple failed bounces astatine $0.000022 contempt 716.32 cardinal successful turnover confirmed weakening support.
- Price tested the $0.000021–$0.000022 portion repeatedly, present acting arsenic a caller base.
- Short rally from 08:55-09:54 UTC reached $0.000022, with a 43.08 cardinal spike astatine 09:44.
- Resistance astatine $0.000022–$0.0000222 remains intact, keeping BONK successful a choky range.
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.
English (US) 