BONK Slides 6% as Sellers Dominate, Despite Growth of Bonk.fun
2025-07-09 13:35:14
Main Idea
BONK's price dropped 6% due to heavy selling pressure, but its long-term prospects remain strong with Bonk.fun's dominance in Solana token launches and ongoing token buybacks and burns.
Key Points
1. BONK fell 6% to $0.00002161 as sell volume overwhelmed support zones.
2. Bonk.fun leads Solana token launches, with $539 million in daily volume across 200,000 projects.
3. Platform fees from Bonk.fun are being used for BONK buybacks and burns, reducing supply and reinforcing value.
4. Despite short-term selling pressure, community sentiment remains positive about BONK's long-term potential.
5. Resistance at $0.000022–$0.0000222 remains intact, keeping BONK in a consolidation phase.
Description
BONK tumbled 5.6% in the past 24 hours , falling $0.00002161 after a wave of selling pressure reversed earlier gains and broke through key support zones. Despite the near-term pullback, underlying ecosystem developments continue to support a broader bullish narrative. Attempts to reclaim $0.000022 between 20:00 UTC-21:00 UTC faltered despite 716.32 billion tokens in turnover, signaling deepening bearish control. However, beneath the surface, BONK’s foundations are strengthening. Bonk.fun platfor...
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