BONK, the Solana-based memecoin, slipped below $0.00001000 ahead of a dYdX governance vote, with elevated trading volumes signaling increased market positioning.
The token fell 3.94% over the past 24 hours to $0.000009492. Earlier, BONK tested resistance at $0.000010273, where volume surged 137% above the 24-hour average to 1.61 trillion tokens, according to CoinDesk Research. The rally faltered, reversing into lower highs and breaking multiple support levels.
By session close, BONK stabilized near $0.000009380, though attempts to reclaim lost ground remained limited. The Dec. 11 vote on integrating BONK into the dYdX Chain has drawn market attention. If approved, BONK would receive 50% of protocol trading fees in exchange for developing a dedicated frontend, expanding its utility.
Resistance at $0.000010273 and support near $0.000009380 frame a temporary equilibrium. Volume patterns suggest positioning activity rather than strong directional conviction, leaving BONK at risk until it reclaims levels above $0.000009600.
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