Key Insights:
- BONK traded in a volatile range of 45% between $0.00001991 and $0.00002123 from September 1 to 2.
- The $30 million financing from Safety Shot, which included $25 million in BONK, underscores emerging corporate adoption.
- An $11.41 million token unlock tested investor confidence but significant buying activity bolstered support.
BONK exhibited notable price fluctuations in a 45% trading range from $0.00001991 to $0.00002123, signaling an increase in volatility. There was heightened selling pressure on Tuesday which coincided with a scheduled $11.41 million token unlock, causing the price to dip from $0.00002102 to a low of $0.00001991 around 21:00 UTC. This downturn spurred an increase in trading volume, exceeding 1.15 trillion tokens as detailed by CoinDesk Research’s technical analysis data model.
Despite this drop, BONK bounced back at the $0.00001990 support level. By the next European morning, it had recovered to $0.00002056, indicating a potential stabilization after the sell-off.
Investors remain focused on Safety Shot’s $30 million financing deal, which was notably funded by $25 million in BONK tokens, marking a significant initiative as the NASDAQ-listed firm becomes the first to include the meme coin in its treasury.
Technical Overview:
- BONK fluctuated within a 45% swing between $0.00001991 and $0.00002123.
- Heavy selling on September 1 raised trading volume to 1.15 trillion tokens between 20:00 and 21:00 UTC.
- Strong institutional buying INTEREST maintained support at $0.00001990.
- The price experienced a recovery, moving from $0.00002035 to $0.00002056 by September 2.
- Resistance was detected around $0.00002120, capping further gains.
- Short-term volatility tightened to a 0.24% range between $0.00002053 and $0.00002058.
- Volume increased above 27.3 billion tokens around 09:50 UTC, indicating continued accumulation.
Disclaimer: This article includes AI-assisted elements and has been reviewed for accuracy.
