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Information about Bonk (BONK)
Bonk is the first Dog-type coin for the Solana community, with 50% of the total supply going to user airdrops. The BONK development team wants to create a fun meme coin where everyone has an equal opportunity.
The project aims to bring liquidity to Dexs on the Solana ecosystem and will launch an OPENBONK. Currently, Bonk has become a partner with many prominent projects in the Solana ecosystem such as DEXLAB, Raydium, Solend, Helio….
BONK is the utility token of the Bonk project.
BONK will be Airdrop 50% to the community, divided as follows:
Specifications
News
BONK has been failing significantly, with a decline of 10.45% over the last month. In just the past 24 hours, it has lost another 2.03%, indicating a continuing downward trend.
Market liquidity data reveals long liquidations far exceed short liquidations, with $438,000 in long positions compared to only $6,400 in shorts, illustrating a bearish sentiment.
Technical indicators, including the Parabolic SAR and Bull Bear Power, suggest a sustained bearish market environment, reinforcing the likelihood of further price drops for BONK.
Bonk (BONK) has experienced a 5% increase over the last 24 hours, with its price currently at $0.000011. However, trading volume has dramatically decreased from $175 million to $31,300.
Although BONK shows signs of community engagement and potential price recovery, the wider cryptocurrency market remains bearish, with significant declines noted in Bitcoin and Ethereum.
Traders speculate on Bonk’s price movements, identifying resistance at $0.000012. Successful breakouts could signify further gains. However, negative trends may lead to drops if resistance levels are not cleared.
BONK’s trading volume has decreased by more than 26% recently, leading to increased price volatility despite the price remaining stable.
With around 847 million USD in market capitalization, BONK remains among the top-100 cryptocurrencies. Its drop in trading activity points to potential risks for investors.
Despite fewer trades, the rising number of new addresses suggests continued interest in BONK. However, active addresses have declined substantially, indicating lower engagement from existing users.
BONK’s recent breakout suggests a bullish trend, with many analysts suggesting a potential rise towards a target price of 0.000009 USD based on its current trajectory.
The increase in liquidations indicates significant market activity, leading to a likely short squeeze which can further drive the price of BONK up as buyers enter the market.
The rise in speculative trading activity is evidenced by the uptick in the futures to spot volume ratio, which could lead to significant price movements for BONK.
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