BONK Declines 6% as Bears Take Control, While Bonk.fun Continues to Grow
BONK Slides 6%, But Bonk.fun’s Growth and Token Burns Signal Long-Term Potential
BONK fell 5.6% in the past 24 hours, trading at $0.00002161 on Wednesday. Despite strong trading activity, the memecoin slipped below key support levels as selling pressure weighed on prices.
Attempts to reclaim the $0.000022 level between 20:00 and 21:00 UTC failed, even with turnover exceeding 716 billion tokens, reflecting continued market caution.
Bonk.fun Powers Ecosystem Expansion
While BONK’s price struggles, its ecosystem is rapidly expanding. Bonk.fun, closely linked to BONK, has captured over 55% of new token launches on the Solana network. More than 200,000 projects have launched through Bonk.fun, generating a significant $539 million in 24-hour trading volume as of Tuesday.
Importantly, fees collected by Bonk.fun are used to fund BONK buybacks and token burns, effectively reducing the token’s circulating supply—a move that could support prices over the longer term. Many in the community on X (formerly Twitter) see Bonk.fun’s momentum as a sign of lasting strength for BONK.
Short-Term Pressure, Long-Term Optimism
- BONK dropped from $0.000023 to $0.00002161 over the past day.
- Resistance at $0.000023 remains firm, rejecting a rally despite 752 billion tokens traded at 18:00 UTC.
- Persistent selling keeps BONK from holding above $0.000022, signaling weak support.
- The $0.000021–$0.000022 range is now acting as a critical support zone.
- A brief surge between 08:55 and 09:54 UTC lifted BONK back to $0.000022, fueled by a spike of 43 billion tokens, but gains were short-lived.
- Sellers continue defending the $0.000022–$0.0000222 zone, containing price action.
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