BONK Climbs 8% as Market Eyes Trillion-Token Supply Cut
BONK Climbs as Trillion-Token Burn Nears, But Faces Resistance at $0.00003
BONK, the meme-inspired token on Solana, rallied 8.39% on Wednesday, reaching a high of $0.00003 before slipping back to $0.000029. The move extends a recent uptrend marked by rising support levels and growing anticipation around a major deflationary event.
The token traded within a 10.7% range between $0.000027 and $0.00003, with strong consolidation near the lower end. As BONK approached the psychologically significant $0.00003 mark, sellers stepped in, triggering a 1.58% pullback. Trading volumes spiked during the reversal, pointing to short-term profit-taking rather than a structural breakdown.
Driving the momentum is the upcoming burn of 1 trillion BONK tokens—set to be executed once the protocol reaches 1 million on-chain holders. The deflationary milestone would represent one of the largest token burns in BONK’s history, potentially tightening supply and supporting higher valuations.
Technical Highlights:
- Support held firm near $0.000027–$0.000028
- Resistance at $0.00003 remains a key barrier to breakout
- Pullback accompanied by above-average trading volume
- Price structure remains bullish, supported by higher lows
- Deflation narrative continues to attract speculative interest
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