1 week ago
BONK started the week connected a volatile note, with the Solana-based memecoin climbing to an August precocious of $0.00002841 earlier sliding 8%.
The beforehand marked 1 of its strongest levels successful caller weeks, and was met with swift organization trading that erased overmuch of the aboriginal gains, according to CoinDesk Research's method investigation information model.
Selling unit accelerated betwixt 11:00 and 13:00 UTC, erstwhile trading volumes surged to betwixt 1.12 trillion and 2.16 trillion tokens. This could person been down to coordinated profit-taking, with ample holders rotating retired of positions. The sell-off drove BONK down 8% to a debased of $0.00002554, a determination that tested the cardinal method enactment adjacent $0.00002620.
The token saw a little betterment astatine astir 13:00 UTC pursuing quality a publically traded institution appeared to beryllium readying connected gathering a BONK treasury. Nasdaq-listed wellness beverage institution Safety Shot (SHOT) agreed to acquisition $25 cardinal worthy of the memecoin successful speech for offering $35 cardinal of SHOT shares to BONK's founding contributors.
While overhead absorption astatine $0.00002854 remains the superior method barrier, BONK’s quality to clasp enactment and retrieve from dense selling whitethorn supply the instauration for renewed upside momentum if affirmative marketplace sentiment continues.
Technical Analysis
- Price Range: $0.00002554 to $0.00002841 implicit 24 hours (12% volatility).
- Resistance: $0.00002854 level confirmed arsenic merchantability zone.
- Support: Critical $0.00002620 level held during sell-off.
- Volume Spikes: 1.12–2.16 trillion tokens traded during liquidation.
- Recovery Channel: Higher lows astatine $0.00002565, $0.00002572, $0.00002570.
- Breakout Trigger: $0.00002632 level cleared connected 49.5B token surge.
- Trend Signal: 8% driblet followed by 2% rebound suggests imaginable basal building.
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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