The memecoin BONK just took a heavy hit. In the last 24 hours, its price has dropped by over 8%, deepening its weekly losses. This comes as a surprise, considering BONK was up more than 40% over the past month — but the latest move suggests the hype may be cooling off fast.
📉 Bears Take Control
BONK is now inching closer to a critical demand zone between $0.00001546 and $0.00001405 — a range where strong buy orders typically reside. If bulls want to stop the bleeding, this is the area to defend.
If that support collapses, BONK could tumble to the next lower targets around $0.00001178, $0.00001043, or even $0.00000888.
🔍 Market Metrics Are Flashing Red
According to liquidation data, BONK is now trading in a high-liquidity cluster between $0.000016 and $0.00001448, which often marks volatile territory.
More troubling is the Taker Buy/Sell Ratio, currently sitting at 0.8457. That means 54.18% of traders are betting against BONK, while just 45.82% are long.
The liquidation stats paint an even grimmer picture:
🔹 Short positions liquidated: only $1,990
🔹 Long positions liquidated: a staggering $205,000
This massive imbalance — over 100x — suggests the market is punishing bullish traders, a hallmark of a strongly bearish phase.
💡 But There’s One Bright Spot: Spot Market Activity
Despite the pressure, one bullish element remains — and that’s spot buying interest.
Over the last 24 hours, BONK saw $2.55 million in spot purchases. Weekly total? More than $18.6 million — the highest volume recorded since late January. If this demand holds, especially within the demand zone, a short-term reversal remains possible.
📌 Key Takeaways:
🔹 BONK is down 8% in one day, facing strong bearish sentiment
🔹 Critical demand zone between $0.00001546 and $0.00001405 may decide what happens next
🔹 Massive long liquidations show bulls are being wiped out
🔹 Spot buying is surging — offering a potential support lifeline
#Bonk , #memecoin , #CryptoMarket , #BEARISH📉 , #crypto
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