• Currently trading at $0.000026, with a market capitalization of $2.05 billion and a daily volume of $402 million
• The price recently increased by 8.39% after burning 300 billion tokens (worth $8 million) on August 5
• The total tokens burned so far is 11.55 trillion tokens (11.55% of the initial supply, worth approximately $300 million)
• Technical indicators suggest accumulation above the support level of $0.000025 with a bullish crossover between the converging EMA20 and EMA50
Burn mechanism and environmental integration
• The burn operations are modeled through protocol fees collected from the LetsBONK.fun platform, which generated over $1 million in July
• 50% of the platform's revenue is automatically allocated to token burning, creating deflationary pressure
• An additional burn of one trillion tokens is planned when BONK reaches a milestone of 1 million holders
• An institutional sale that occurred on August 1 (59.77 billion tokens in one hour) was offset by the continuous burn mechanism
Trading forecast
• The main resistance level is at $0.00003 with a secondary resistance target at $0.000034 if the upward momentum continues
• A potential rebound of 60% if buyers can maintain control above the current support level
• An investment opportunity to hold the token during periods of volatility to benefit from reduced supply
• Other new Solana cryptocurrencies have not been able to impact BONK's position in the market
