BONK recorded a notable 8.39% increase rising from $0.000028 to $0.000029, marking a continuation of the token’s bullish momentum following earlier rebounds, with a clearly outlined construction of ascending lows consolidating across the $0.000027–$0.000028 vary.
Because the token approached the psychologically important $0.00003 resistance stage, elevated sell-side stress materialized, capping additional advances regardless of bullish fundamentals, in keeping with CoinDesk’s technical evaluation knowledge mannequin.
The token reached an intraday excessive of $0.00003 at roughly 09:58 UTC earlier than retreating. BONK fell 1.58% to $0.000029, retracing a part of its earlier rally. The pullback was accompanied by heightened quantity, suggesting localized profit-taking slightly than a broader development reversal.
The latest rally is underpinned by a looming deflationary catalyst: BONK’s protocol is ready to burn 1 trillion tokens upon reaching 1 million on-chain holders, which might mark one of many largest burns within the meme token’s historical past and scale back circulating provide considerably.
Technical Evaluation
- $0.000027 to $0.00003 (10.7% vary)
- Sturdy consolidation close to $0.000027–$0.000028
- $0.00003 proved formidable, triggering a 1.58% pullback
- Spiked throughout reversal interval, confirming bearish rejection at resistance
- Bullish construction with greater lows; short-term bearish retracement underway
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