BONK Plummets 9% From ATH as Exchange Dumps Drown Out Burn Rally
Memecoin's hype meets harsh reality—again.
BONK's deflationary burn mechanism got steamrolled by a wave of exchange transfers today, sending the token tumbling 9% from its recent peak. The sell pressure hit just as the community was celebrating token burns—because nothing says 'decentralized finance' like whales dumping on retail.
Key details:
- Price drop coincides with major CEX inflows
- Burn news buried under sell orders
- Classic crypto theater: narrative vs. liquidity
Another day, another reminder that in crypto, the 'fundamentals' are just the garnish on a volatility sandwich.
Technical Analysis Highlights
- BONK moved between $0.00003185 and $0.00003763, a 15% swing.
- The price dropped 9% from a peak at 15:00 UTC to $0.00003430 by 16:00 UTC.
- Strong support held at $0.00003185-$0.00003230 amid multiple overnight retests.
- From 03:00 UTC, the price rallied to $0.00003438, showing short-term stabilization.
- Between 11:10 and 12:09 UTC, BONK fell 2% to $0.00003433.
- Reduced volume during final minutes suggests declining bearish momentum.
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