The price of the currency $BONK has decreased
by 5.6% over the past 24 hours, down by $0.00002161, following a wave of selling pressure that reversed its previous gains and broke key support levels. Despite the short-term decline, the underlying ecosystem developments still support a broader bullish scenario.
Attempts to recover $0.000022 faltered between 20:00 and 21:00 UTC, despite trading 716.32 billion tokens, indicating increasing bearish expectations.
However, behind the scenes, the fundamentals of $BONK are strengthening. The Bo,nk.fun platform, closely linked to the currency, has emerged strongly, capturing 55% of Solana token launches. Over 200,000 projects have been launched on the platform, achieving a 24-hour trading volume of $539 million on Tuesday.
Millions of dollars in platform fees are being redirected towards BONK buybacks and burns, reducing supply and enhancing value. This shift is reflected in the sentiment of the X community, as users increasingly view the rise of Bo,nk.fun as a structural shift in market share in favor of $BONK .
While there may be continued selling pressure in the short term, the expansion of the BONK ecosystem and active token economy indicate greater resilience - and potential upside - beyond the current chart.
Key technical analyses
BONK fell by 6% from $0.000023 to $0.00002161 over 23 hours.
$0.000023 was rejected with a trading volume increase of $752.4 billion at 18:00 UTC.
Multiple failed rebounds at $0.000022, despite a trading volume of $716.32 billion, confirm weak support.
The price has repeatedly tested the range of $0.000021-0.000022, now forming a new base.
A short-term spike from 08:55 to 09:54 UTC reached $0.000022, with a peak of $43.08 billion at 09:44.
Resistance at $0.000022-0.000022 remains in place, keeping BONK in a tight range.