BONK Slides 6% to Test Key Support

BONK fell astir 6% successful the past 24 hours, dropping from $0.00002606 to $0.00002436 successful a determination that carved retired a $0.0000028 range, astir 10% of its trading spectrum.

The diminution accelerated aft the token failed to clasp gains adjacent $0.000027 connected Aug. 11, wherever measurement spiked to 1.13 trillion tokens, good supra the 24-hour mean of 708 billion, according to CoinDesk Research's method investigation information model.

Selling unit persisted into the greeting of August 12, with BONK uncovering steadfast enactment astir $0.000024 astatine 10:00 UTC connected 889 cardinal tokens traded.

BONK did spot a bounce astatine the commencement of U.S. morning, erstwhile buyers stepped successful and pushed the terms up 3% to $0.000025.

The rebound signaled imaginable short-term stabilization aft the extended drawdown, forming $0.000024 arsenic a cardinal enactment to avoiding further downside.

The volatility comes the time aft Nasdaq-listed Safety Shot disclosed a $25 cardinal firm treasury acquisition linked to BONK ecosystem improvement done its involvement successful the Bonk.fun launchpad — a determination viewed by immoderate analysts arsenic a motion of expanding mainstream vulnerability for the meme coin sector.

Technical Analysis

• Trading Range: $0.00002398–$0.00002674, a 10% dispersed implicit 24 hours.
• Resistance: Multiple rejections adjacent $0.000027 connected August 11 with precocious volume.
• Support: Strong basal adjacent $0.000024 connected August 12 with 889B tokens traded.
• Volume Spike: 145B tokens during breakout from consolidation astatine 12:30 UTC.
• Recovery Move: 3% summation from $0.000024 to $0.000025 betwixt 11:49–12:48 UTC.
• Breakout Trigger: Price cleared $0.000025 absorption astatine 12:22 UTC.
• Market Context: Bounce follows respective days of heightened volatility successful memecoins.

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.