BONK Surges by 10% to Reach $0.000027 Amid Profit-Taking
BONK experiences its most substantial daily gain in recent weeks, hitting $0.000027 before a minor pullback due to profit-taking.
Key Highlights:
- BONK increased by 10% to $0.000027, with some profit-taking leading to a slight decrease.
- A support level was maintained at $0.000024, prompting an overnight surge.
- Increasing trading volumes indicate institutional involvement amid rising volatility.
BONK experienced a notable surge, climbing 10% from $0.000025 to $0.000027 during a 24-hour timeframe. The meme token based on Solana exhibited significant movement in a $0.000031 range, indicating 13% volatility.
The rally was supported by consistent volume, surpassing a 24-hour average of 956.8 billion tokens, reflecting robust participation from both retail and institutional investors. However, gains proved unsustainable, with a pullback to $0.00002646 during the morning hours in the U.S. due to profit-taking by larger holders.
In context, this trading activity follows recent announcements from Nasdaq-listed Safety Shot, which detailed a $25 million allocation for the BONK ecosystem.
Technical Insights:
- Support level: $0.000024
- Resistance level: $0.000027
- Average daily volume: 956.8B tokens
- Selling spike: 38 billion tokens observed at 12:52 UTC during a 1% decline.
