BONK, the Solana-native meme cryptocurrency, declined almost 5% during the last 24 hours, sliding from $0.000028 to $0.0000266.
Value rejection close to $0.000029 through the 16:00 hour was supported by elevated transaction quantity of 764.44 billion tokens, a sign of aggressive distribution from bigger holders, based on CoinDesk’s technical evaluation knowledge mannequin.
Help makes an attempt at $0.000026 had been bolstered by spikes in buying and selling exercise above 1.17 trillion tokens through the midnight and 08:00 UTC intervals, however these inflows proved inadequate to reverse the broader downward development.
The selloff continued through the European. afternoon, with BONK falling 3% intraday from $0.000026 to $0.0000254, led by quantity spikes above 59 billion tokens at 13:54 UTC. This breakdown from the $0.000026 ground has now created a descending channel formation, establishing a brand new bearish construction with value motion drifting towards the psychologically important $0.000025 zone.
BONK noticed a slight restoration throughout mid-morning within the U.S., lifting to $0.0000275 to restore among the injury from earlier.
Sentiment stays fragile throughout the broader crypto market, with introduction of fresh U.S. tariffs on imports creating a “risk-off” sentiment, inflicting traders to maneuver away from riskier belongings like cryptocurrencies. This can be a frequent sample the place world financial uncertainty results in capital flowing out of extra risky markets.
Technical Evaluation
- BONK fell 7% from $0.000028 to $0.000026 over the 24-hour interval
- Agency resistance at $0.000029 confirmed by 764.44B tokens in promote quantity
- Heavy shopping for close to $0.000026 failed to carry amid 1.17T+ token quantity spikes
- 3% drop from $0.000026 to $0.0000254 in last hour, led by 59.77B tokens at 13:54
- Decrease highs and a breakdown from the $0.000026 assist verify bearish channel sample
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